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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

28 May 2024
Biotechs boost Edinburgh Worldwide

The Edinburgh Investment Trust ticks off strong year with double digit NAV return

The Edinburgh Investment Trust (EDIN) announced its annual results for the year end 31 March 2023. The NAV total return over the period was 13.4%, exceeding the 8.4% return of the benchmark index. The share price total return was 8.9%. Dividends for the financial year were up 3.8% compared with the previous year, equivalent to […]

28 May 2024
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 28 May 2024 – FGT, IIP

In QuotedData’s morning briefing 28 May 2024: Finsbury Growth & Income Trust (FGT) announced its interim results for the six months ended 31 March 2023. The company’s NAV total return was 5.9% while shares were up 2.7%, underperforming its benchmark index which rose 6.9% over the same period. The principal contributors to the company’s net […]

24 May 2024
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 24th May 2024

Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: • Marble Point Loan Financing (0:21)• Odyssean (4:37)• abrdn European Logistics Income (6:24)• NewRiver REIT / Capital & Regional (9:43)• Great Portland Estates (13:47) […]

Geographies
  • Europe (EU and EEA ex UK)
  • Global
  • UK
Sectors
Companies
24 May 2024
Marble Point Loan Financing : MPLF

Marble Point Loan Financing receives new requisition to speed up liquidation

Marble Point Loan Financing (MPLF) is convening a second round of EGMs (for both its liquidating share class and ordinary share class) following the receipt of a new requisition notice from Freestone Advantage Partners III LP to once again consider its proposals for amending MPLS’s articles of incorporation to allow for a liquidating share opportunity […]

Sectors
24 May 2024
130323 HGT logo

HgCapital’s manager acquires AuditBoard

HgCapital Trust (HGT) has announced that its manager Hg has acquired AuditBoard, which it describes as a leading connected risk platform transforming audit, risk, compliance and ESG management, in a transaction that values AuditBoard at over US$3bn. HGT will invest approximately £87.2m in AuditBoard, with other institutional clients of Hg investing alongside HGT through the […]

Sectors
24 May 2024

Scottish Mortgage reports on “challenging yet rewarding year”

Scottish Mortgage (SMT) has published its annual results for the year ended 31 March 2024. In what its chair, Justin Dowley, describes as a challenging yet rewarding year, SMT provided NAV and share price total returns of 11.5% and 32.5%, which it says compares to at 21.0% return from its FTSE All-World Benchmark. Dowley comments […]

Sectors
24 May 2024

Capital Gearing reports on “far from satisfactory” year

Capital Gearing (CGT) has published its annual results for the year ended 31 March 2024, during which it provided an NAV total of 1.8%, which its chairman, Jean Matterson describes as far from satisfactory when compared to the rise in the consumer price index (CPI) of 3.2%. The share price total return over the period […]

Sectors
24 May 2024
a newspaper sticking out of a grey letterbox

QuotedData’s morning briefing 24 May 2024 – JEMA

In QuotedData’s morning briefing 24 May 2024: JPMorgan Emerging EMEA Securities (JEMA) has announced that further to its announcement on 25 April 2024 that it has been named as a defendant to civil proceedings being brought by VTB in the Russian courts, which were commenced on 17 April 2024 (click here to see our coverage […]

Geographies
  • Africa
  • Europe (EU and EEA ex UK)
  • Middle East
Sectors
23 May 2024
the kelpies

Larger Shires Income explores ways to strengthen revenue account

Over the 12 months ended 31 March 2024, Shires Income generated an NAV return of 5.1% and a share price return of -5.5% (as the discount widened to 13.3%), both behind the 8.4% return delivered by the company’s All-Share Index benchmark. The chairman suggests that “the performance for the year is in line with what […]

23 May 2024
white text on a blue background overlaid with red curved lines

Massive buyback drives recovery in Scottish Mortgage share price

Over the 12 months ended 31 March 2024, Scottish Mortgage returned 11.5% in NAV terms and 32.5% in share price terms, driven by a narrowing discount. It says that these figures compare to a 21.0% return on the FTSE All-World Index. The main driver of the narrowing discount from 19.6% to 4.5% was the announcement […]

Sectors
23 May 2024
a green cup of something hot - tea or coffee? - sitting on an open bookon which is also resting what looks like a napkin 230406 morning

QuotedData’s morning briefing 23 May 2024 – BGLF, CRS, INOV, IPU

In QuotedData’s morning briefing 23 May 2024: Blackstone Loan Financing (BGLF) will hand back €23m to its shareholders by way of a compulsory partial redemption of up to 24,779,142 shares on 10 June 2024. On this basis, a holder of 10,000 shares will have 559 shares redeemed, and receive €518.86 in cash. Crystal Amber (CRS) […]

Companies
22 May 2024
odyssean investment trust logo

Odyssean plans tender offer

Odyssean Investment Trust (OIT) was launched on 1 May 2018. At the time, the board said it would offer shareholders the opportunity to cash in their investment at NAV (less costs) during the trust’s seventh year and every seventh year thereafter. The exact timing of the realisation is up to the board (in consultation with […]

22 May 2024

Outlook remains positive despite modest returns for HICL Infrastructure

HICL Infrastructure (HICL) has announced its annual results for the year ended 31 March 2023. The company delivered a total shareholder return of 1% for the year with an increasing discount rate offsetting steady earnings growth. Despite the middling returns, the company did highlight a number of positive updates for the year, noting the significant […]

Sectors
22 May 2024

Positive year despite increasing UK focus for STS Global Income & Growth Trust

STS Global Income & Growth Trust (STS) announced its annual report for the year ended 31 March 2024. The NAV total return for the year was +4.8%, and the share price total return was +6.1%, compared to a total return of +11.5% in the Lipper Global – Equity Global Income Index. This compares to a […]

Sectors
22 May 2024
a pair of glasses sitting on the corner of a newspaper

QuotedData’s morning briefing 22 May 2024 – IHR, USF

In QuotedData’s morning briefing 22 May 2024: Impact Healthcare REIT (IHR) posted a 1.7% increase in NAV per share to 117.31p in the quarter to 31 March 2024. The value of its portfolio of care homes was up 1.5% to £660.8m, with contracted annual passing rent up 4% to £50.1m. Rent cover among its tenants […]

21 May 2024

Steady year for Caledonia not reflected in share price

Caledonia Investments (CLDN) announced its annual results for the year ended 31 March 2024. The company saw a NAV total return of 7.4% slightly behind the benchmark return of 8.4%, although it remains well ahead over three, five, and ten year periods.  Despite the solid NAV growth, the share price total return was -1.2%, leading […]

Sectors
21 May 2024
Gore Street Energy Storage Fund

Solid performance from Gore Street Energy Storage belies discount 

Gore Street Energy Storage Fund (GSF) announced a trading update for the 12 months ended 31 March 2024. The announcement highlighted the ongoing revenue growth of the portfolio, which was up 5% over the period while EBITDA increased by 2%. The company also noted that it raised capital via both equity and debt, enabling continued […]

21 May 2024

Asia Dragon Trust announces strategic review

The Asia Dragon Trust (DGN) announced a strategic review. This follows the recent proposal to combine with Ashoka WhiteOak Emerging Markets (AWEM) which was announced on 7 May 2024. Background to the strategic review In July 2023, the company announced a proposed combination with abrdn New Dawn Investment Trust to create an enlarged company with […]

Sectors
21 May 2024
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 21 May 2024 – SDP, HEFT

In QuotedData’s morning briefing 21 May 2024: Schroder AsiaPacific Fund (SDP) announced its interim report for the six months to 31 March 2024. Over the period, the company’s NAV per share total return was 5.7%, slightly ahead of the 5.3% total return from the benchmark. The share price produced a total return of 4.4% over […]

Sectors
20 May 2024

abrdn European Logistics Income to wind down

abrdn European Logistics Income (ASLI) has announced that it will undergo a managed wind down. Ahead of a continuation vote this year, the board launched the strategic review into the future of the company in November 2023, with the fund suffering from a wide discount to NAV and a materially uncovered dividend. The company received […]

Sectors
20 May 2024

SHIP to return $31m to shareholders and loosen investment restrictions

Tufton Oceanic Assets (SHIP) has provided more details on the proposed actions to be taken as a result of its strategic review, the results of which were initially announced on 17 January 2024. The board will propose an amended investment policy, which will ease SHIP’s current investment restrictions, as the current policy prevents making new […]

Sectors
20 May 2024
230124 morning

QuotedData’s morning briefing 20 May 2024 – HVPE, HLCL

In QuotedData’s morning briefing 20 May 2024: HarbourVest Global Private Equity (HVPE) reported its monthly NAV for April 2024. HPVE has an estimated NAV per share of $50.47 (£40.40), a decrease of 0.4% in US dollar terms over the previous month. HPVE invested $55m into HarbourVest funds over April, as part of its $2.3bn investment […]

17 May 2024
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 17th May 2024

Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Chrysalis (0:16) • Pantheon International (5:07) • Henderson European Focus / Henderson Eurotrust (6:48) This week’s interview was with Mark Sheppard from Manchester & London IT […]

Companies
17 May 2024

QD view – Family fortunes

It is not a bad rule of thumb to invest in a similar way to people who already have a lot of money. Therefore, the logic of investing alongside in one of the investment trusts where a wealthy family has a large shareholding seems inescapable. But investors need to ensure their interests are looked after […]

Sectors
Companies
17 May 2024

The stars are aligning

Why an actively run portfolio of Japan small cap stocks could be a big winner over the coming years Japan is the third largest economy in the world, yet its declining weight in global indices and previous false dawns have put it out of focus for investors. While enthusiasm for Japanese equities grew in 2023, […]

Sectors
17 May 2024
221130 CHRY

Chrysalis seeks to reassure on wefox

Chysalis (CHRY) has issued a portfolio update this morning following a news article published by Sky News on 16 May 2024 regarding wefox. CHRY says that its investment adviser has been in discussions with wefox management and other shareholders for a number of months and that a plan has been put in place to simplify […]

Sectors
17 May 2024
a coffee cup next to an alarm clock

QuotedData’s morning briefing 17 May 2024 – IVPG, SOHO, BCPT, MYI

In QuotedData’s morning briefing 17 May 2024: Invesco Select Trust has announced that, following the results of its restructuring announcement on 3 May 2024 and the reclassification of its non-Global shares into Global Shares effective 7 May 2024, it has, with effect from today, changed its name to Invesco Global Equity Income Trust Plc. The […]

Sectors
16 May 2024
230818 EBOX Mango, Barcelona

Tritax EuroBox continues strategic revival in challenging market

Tritax EuroBox reported a fall in EPRA net tangible assets (NTA) in half year results, as the impact of sector-wide outward yield shift continues. The company’s portfolio valuation fell 2.9% on a like-for-like basis to €1,464.8m, contributing to a 5.9% drop in EPRA NTA to €0.96. Adjusted earnings per share was down 3.0% to 2.62 […]

Sectors
16 May 2024
pantheon's logo against a view of the tops of skyscrapers from the ground

Pantheon International outlines capital allocation policy

Pantheon International has published details of its capital allocation policy (CAP). This is the second step of the company’s three-step programme of shareholder-focused corporate strategy, following the £200m buyback that kicked off last sumer and is now almost complete. As at 15 May 2024, £189.6m had been invested in share repurchases, adding about 4.5% to […]

16 May 2024
the side of a mug in front of a stack of newspapers

QuotedData’s morning briefing 16 May 2024 – PCGH

In QuotedData’s morning briefing 16 May 2024: Polar Capital Global Healthcare (PCGH) says that at end March 2024, its six-month NAV returns were seven percentage points better than its benchmark’s (16.55% versus 9.56% for MSCI ACWI/Healthcare Index). The manager says that this was driven by strong stock selection across the entire market capitalisation range and […]

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