Cordiant Digital Infrastructure’s results to end March 2024 show an improvement in its NAV to 120.1p, contributing to an NAV return for the period of 9.3% (that would have been 11% but for adverse foreign exchange movements), and an increase in the dividend to 4.2p (up 5%), offset by a widening discount – from 28.3% […]
Urban Logistics REIT reported a slight drop in EPRA net tangible assets (NTA) of 1.3% to 160.27p in annual results to 31 March 2024. The value of the company’s portfolio of mid-box urban logistics assets was stable over the 12 months falling just 0.3% on a like-for-like basis to £1.1bn. Net rental income was up […]
Syncona has added two new companies to its portfolio, iOnctura and Yellowstone Biosciences. Syncona has invested €30m (£25.7m) in iOnctura, an innovative, clinical-stage, small molecule company combating neglected and hard-to-treat cancers, and launched Yellowstone, a new oncology company pioneering soluble bispecific T-cell receptor (TCR)-based therapies, with a £16.5m commitment. iOnctura iOnctura is developing selective cancer […]
Syncona has published results for the 12 months ended 31 March 2024. The NAV edged up from 186.5p to 188.7p, giving a NAV return for the period of 1.2%, but as it turns out all of that came from the effect of buying back shares at a discount. £20.2m worth of shares were repurchased at […]
In QuotedData’s morning briefing 20 June 2024: GCP Infrastructure’s half-year numbers to end March 2024 showed a small positive NAV return of 1.2% but a much greater uplift in the share price as the discount narrowed giving shareholders a return of 12.5%. As usual, the dividend is maintained at 3.5p for the six-month period. No […]
Downing Strategic Micro-Cap (DSM) has announced that, on 17 June 2024, its board of directors of DSM received a letter from Vidacos Nominees Limited acting as nominee of Milkwood Capital Limited (Milkwood), seeking to requisition a general meeting of DSM. DSM’s board has said that it is in the process of reviewing the legal validity […]
In addition to the publication of its annual results today (click here to see our coverage of these), NextEnergy Solar Fund (NESF) has published its third standalone annual sustainability & ESG report – also for the year ended 31 March 2024. The report, which you can read here, runs to over 70 pages and contains […]
NextEnergy Solar Fund (NESF) has published its annual results for the year ended 31 March 2024. In what is her first annual report as NESF’s chairwoman, Helen Mahy says that the continued macroeconomic backdrop has presented challenges to the sector, but she is encouraged that NESF has continued to show resilience having achieved multiple key […]
Rockwood Strategic (RKW) has published its annual results for the year ended 31 March 2024, during which it provided an NAV and share price total returns of 5.1% and 15.4% respectively, which it says compares to an increase in the FTSE Small Cap (ex-ITs) index of 7.1% and a fall in the AIM All-Share Index […]
International Public Partnerships (INPP) has provided the market with an update on its performance so far this year. It says that its portfolio of over 140 projects and businesses has continued to perform well, both operationally and financially, during the period. Its portfolio continues to deliver essential services to stakeholders, maintaining high levels of asset […]
Personal Assets (PNL) has published its annual results for the year ended 30 April 2024, during which it provided NAV and share price total returns of 1.3% and 1.2%, respectively. In comparison, it says that the All-Share Index returned 3.4% and RPI was 3.3%. PNL’s manager, Sebastian Lyon, says that PNL’s “cautious asset allocation has […]
HydrogenOne Capital Growth (HGEN) has announced that its portfolio company, Strohm Holding B.V. (Strohm), has successfully completed a new €30m (£25m) capital raise. Strohm is the world’s first and leading producer of Thermoplastic Composite Pipe (TCP), which can be used across conventional energy, as well as renewable applications, greatly reducing the associated technology risk. Strohm […]
In QuotedData’s morning briefing 19 June 2024: Schroder European REIT (SERE) posted a 3.6% fall in NAV to 123.6 euro cents per share in the six months to 31 March 2024. The group’s property portfolio valuation declined 3.1% to €208.1m. Underlying EPRA earnings increased 3% to €4.3m on the prior six month’s EPRA earnings of […]
NextEnergy Solar Fund has sold its Whitecross solar plant, completing Phase II of its capital recycling programme and freeing up capital to put to other uses (see below). Highlights: Whitecross, located in Lincolnshire, UK, is a 35.22MW utility-scale solar asset that was developed as part of the company’s self-developed project pipeline and energised late last […]
Ashoka WhiteOak Emerging Markets (AWEM) has published its first annual report, covering the period from its incorporation on 15 March 2023 to 31 March 2024. The company listed on the Premium Segment of the Main Market of the London Stock Exchange on 3 May 2023. In its inaugural accounting period, Ashoka WhiteOak Emerging Markets generated […]
In QuotedData’s morning briefing 18 June 2024: abrdn Diversified Income & Growth (ADIG) has announced details of its planned return of £115m of capital (38p per share) via a B share scheme. The distribution needs to be approved at a meeting that will be held on 3 July 2024. The money should be with shareholders […]
Montanaro UK Smaller Companies Investment Trust (MTU) has released its annual results for the 12 months ending 31 March 2024. Over the 12 months MTU’s NAV total return was 8.3%, slightly underperforming its benchmark, the Deutsche Numis Smaller Companies (excluding investment companies) Index, which returned 9%. The share price total return was lower at 0.7% […]
Home REIT will look to sell more of its portfolio after failing to secure refinancing of its debt. The company said that extensive discussions with a potential lender to refinance its debt facility with Scottish Widows (currently £131.8m) have fallen through. It said: “The board has now concluded that it will not be able to […]
Ecofin US Renewables Infrastructure Trust (RNEW) has provided a NAV update for the first quarter of 2024. Over these three months RNEW has reported a fall in the NAV per share, from $0.8521 at the end of December to $0.7937 at the end March. Total NAV fell from $117.7m to $109.6m. This fall was due […]
In QuotedData’s daily briefing 17 June 2024: BH Macro (BHMG) has announced an increased annual buyback allowance. Under the new agreement, the allowance for 2024 (which would have previously been capped at 5% of issuance for each currency of shares) has been increased by an amount equal to its unused allowance for the sterling shares […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: • abrdn New India (0:30) • Asia Energy Impact (7:23) This week’s interview was with Luciano Suana from Menhaden Capital Management – watch it again here.
QD view: The overlap between the portfolios of Baillie Gifford’s range of global investment trusts is limited, yet investors are treating them as quite narrow variations on a theme and this is throwing up opportunities for those able to appreciate the nuances within the range. It has undoubtedly been a difficult period for the Baillie […]
abrdn New India Investment Trust (ANII) has published its annual results for the year ended 31 March 2024, during which it provided NAV and share price total returns of 27.8% and 27.3% respectively, underperforming its MSCI India Index, which returned 34.4% (all in sterling in total return terms). This performance is a sharp turnaround from […]
JLEN Environmental Assets (JLEN) has announced that it has refinanced a three-year facilities agreement providing for a committed multicurrency revolving credit facility (RCF) of £200m. The facility has an uncommitted accordion facility of up to £30m and an uncommitted option to extend for a further year. Taken together, this provides an additional £30m of funding […]
Baillie Gifford UK Growth Trust (BGUK) has announced its annual results for the year ended 30 April 2024 during which BGUK provided NAV and share price total returns of 0.6% and 0.5% respectively, which it says compares to 7.5% for its benchmark FTSE All-Share Index total return. BGUK’s chair, Carolan Dobson, says that when the […]
Asian Energy Impact (AEIT) has provided an update ahead of its General Meeting later today (Friday 14 June 2024) at which shareholders will be asked to vote on a resolution to wind-up the trust. RUMS project construction update Construction of the 200MW solar project that forms part of the Rewa Ultra Mega Solar Park (the […]
Aurora Investment Trust (ARR) has announced changes to its investment objective and the methodology used to calculate its performance fee. The change in the investment policy stems from a desire by the board to clarify the wording to make it consistent with ARR’s investment policy and dividend policy. ARR’s existing investment objective refers to providing […]
Pantheon International (PIN) has announced that Charlotte Morris has been appointed as co-lead portfolio manager of the trust with immediate effect to work alongside Helen Steers, succeeding Jie Gong in the role. Based in London, Charlotte is an investment partner at Pantheon and actively involved in the firm’s private equity secondaries business. PIN says that […]
Custodian Property Income REIT said that property valuations had stabilised in its portfolio in the final quarter of its financial year to 31 March 2024. Its portfolio fell in value by 4.0% on a like-for-like basis across the year to £589.1m but was flat in the first three months of 2024, which it said suggests […]
In QuotedData’s morning briefing 13 June 2024: RTW Biotech Opportunities (RTW) says its largest (13.4% of the portfolio) holding, Avidity Biosciences Inc. has announced positive initial data from its Phase 1/2 trial of AOC 1020, an investigational therapy that targets DUX4, the root cause of facioscapulohumeral muscular dystrophy (FSHD). AOC 1020 demonstrated unprecedented and consistent […]
