Impax believes the urgent need to detect, treat and destroy ‘forever chemicals’ in the world’s water is creating investment opportunities that are broader and more valuable than many appreciate Executive summary Understanding of the potentially grave and lasting threats to public health and biodiversity posed by ‘forever chemicals’ is driving public pressure, regulation and litigation […]
The Lindsell Train Investment Trust (LTI) announced its annual results for the year to 31 March 2024. The company saw a NAV total return of 2.1%, a significant underperformance of the MSCI World Index which returned 22.5%. Shares fell 19.8%, leading the discount to widen significantly. The company noted that the sharp widening of the […]
Value and Indexed Property Income Trust (VIP) announced its annual report for the year ended 31 March 2024. The company saw a NAV total return of -9.7%. The discount to net asset value also widened, resulting in a share price total return of -10.3%. Since the year end on 31 March 2024, however, the share […]
Odyssean Investment Trust (OIT) announced its annual results for the year ended 31 March 2024. The company saw a NAV total return of -3.7%, trailing the benchmark return of 3%. Shares fell -5.2% with the discount widening to 0.7%. The manager noted that the company’s performance reflected markets and volatility driven by stock specific issues. […]
In QuotedData’s morning briefing 12 June 2024: Special Opportunities REIT (SOR) has pulled its proposed IPO after falling short of its target fundraise. The company had targeted a £500m raise to acquire commercial property at distressed prices. It had lined up three cornerstone investors for up to £114m, but still fell short of its minimum […]
Oakley Capital Investments (OCI) announced that the Oakley Capital Fund V has exclusivity over acquiring a co-controlling stake in I-TRACING, the leading independent provider of cyber security services in France. OCI’s indirect contribution via Fund V is expected to be up to c. £39m, which relates to OCI’s share of Oakley’s investment in I-TRACING. Full […]
The Fidelity China Special Situations (FCSS) announced its annual report for the period ended 31 March 2024. During the year, the company reported a NAV total return of -16.3% and an ordinary share price total return of -16.4%. This was ahead of the benchmark Index, the MSCI China Index, which returned a total return of […]
In QuotedData’s morning briefing 11 June 2024: The US Solar Fund (USF) will purchase in aggregate 24,358,974 shares under its previously announced tender offer at a price of $0.764 per share. This is the maximum number of shares to be acquired, representing approximately 7.33% ($19m) of the issued share capital of the company. VietNam Holding […]
TR Property posted a 15.2% increase in net asset value (NAV) to 351.1p in the year to 31 March 2024, helped by a number of its portfolio companies being the subject of merger and acquisitions (M&A). Key highlights included: TRY reported a NAV total return of 15.2% and share price total return of 22.9%. These […]
Templeton Emerging Markets Investment Trust (TEM) has released its annual results for the 12 months ending 31 March 2024. Over the 12 months TEM delivered a NAV total return of 7.9%, outperforming its benchmark, the MSCI Emerging Markets Index, which returned 5.9%. TEMIT’s share price total return underperformed however, returning 4.9%, due to its widening […]
In QuotedData’s morning briefing 10 June 2024: Downing Renewables & Infrastructure Trust (DORE) has provided a Q1 NAV update for the three months ending 31 March 2024. DORE reported a NAV of £212.3m or 119.2p per share, a 1.3% increase from its 31 December 2023 value. Its NAV was primarily driven by positive FX movements, […]
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: • Gresham House Energy Storage (0:32) • Octopus Renewables Infrastructure (10:14) • Hipgnosis (12:35) Andrew McHattie from The Investment Trust Newsletter (13:45) This week’s interview was with Olivia Macdonald from Majedie Investments […]
Could AI be as groundbreaking as the printing press was? Scottish Mortgage deputy manager Lawrence Burns explores AI’s transformative power and investment potential. Capital at risk. View the article here.
Could AI be as groundbreaking as the printing press was? Scottish Mortgage deputy manager Lawrence Burns explores AI’s transformative power and investment potential. Capital at risk. View the article here.
QD view: feet dragging by the current administration on an issue of considerable importance to the investment companies industry means that a new Labour government offers our best hope for a solution If you have been following the cost disclosure issue story on our website, you will know that one of the strands that the […]
Worldwide Healthcare (WWH) has published its annual results for the year ended 31 March 2024, during which it provided NAV and share price total returns of 12.0% and 8.6% respectively, which compare to a return from its MSCI World Health Care benchmark of 10.9% (all in sterling terms). The difference between the performance of the […]
VinaCapital Vietnam Opportunity Fund (VOF) and its manager, VinaCapital Investment Management have announced that Andy Ho, VinaCapital’s Chief Investment Officer, passed away unexpectedly at his home in Ho Chi Minh City on the morning of 6 June. Andy (pictured) had been with VinaCapital for some 17 years, having first joined VinaCapital in 2007. Previously he […]
In QuotedData’s morning briefing 7 June 2024: Pantheon International (PIN) has announced that, following the announcement of its capital allocation policy (CAP) on 16 May 2024, it has appointed Investec Bank and J.P. Morgan Securities to undertake an ongoing share buyback programme for the company. The maximum price payable is an amount equal to the […]
Schroder REIT posted a positive NAV total return in annual results, and reported that the value of its portfolio was stable over the three months to 31 March 2023. NAV declined by 4.4% to £287.4m, or 58.8p per share, over the year largely driven by an underlying portfolio value decline of 2.8% over the year […]
Seraphim Space Investment Trust (SSIT) announced its third quarter results for the three-month period ended 31 March 2024. The company saw a NAV total return of 0.8% for the period, a portfolio valuation increase of 1.4%, and a significant jump in the share price of 43%. The strong return was driven by a number of […]
Edinburgh Worldwide (EDIN) has announced its interim results for the six months to April 20 2024. The company’s NAV increased by 6.4% while the comparative index increased by 15.0%. The share price increased by 13.6% leading to a narrowing of the discount which was 11.49% at the time of publishing. The largest positive contributors to […]
Downing Strategic Micro-Cap Investment Trust (DSM) announced its annual results for the year ended 29 February 2024. In November 2023 the board and manager announced the managed winddown of the company and the intention to return at least 20% of NAV to shareholders in early 2024. Since then, authority to change the mandate of the […]
The Biotech Growth Trust (BIOG) has released the annual results for its financial year ending 31 March 2024. BIOG reported a 12 month NAV total return of 26.5% and share price total return of 27.1%, outperforming its benchmark, Nasdaq Biotechnology Index, which returned 5.0%. Note that the benchmark will be changed to the Nasdaq Biotechnology […]
Gresham House Energy Storage (GRID) has announced that 14 of its projects, representing 568MW/920MWh, have secured fixed price contracts with a subsidiary of Octopus Energy, the UK’s largest electricity provider. This will provide two-year fixed-price contracts for approximately half of the company’s 1,072MW target portfolio starting in a phased manner from 1 July 2024. Octopus […]
In QuotedData’s morning briefing 5 June 2024: Syncona (SYNC) has provided an update on one of its portfolio companies, Quell Therapeutics. Quell has announced that it is advancing QEL-001, its autologous, multi-modular engineered CAR-Treg cell therapy, into the efficacy cohort of the Phase I/II trial in liver transplant patients. SYNC comments that “this is the […]
Workspace Group, the London flexible office provider, reported a sharp fall in EPRA net tangible assets (NTA) in annual result to 31 March 2024, as valuations in the office sector continue to tumble. The group’s EPRA NTA was down 13.7% to £8.00 over the year, mainly due to a like-for-like portfolio valuation decline of 8.1% […]
There was an announcement from Pershing Square Holdings yesterday saying that its manager Pershing Square Capital Management, L.P is now 100% owned by a new limited partnership and that 10% of that limited partnership had been sold to external investors for $1.05bn. The largest shareholder of the new LP is Bill Ackman. The consortium of […]
Canadian private equity giant Brookfield Asset Management is mulling an offer for Tritax EuroBox. The company said that it was in the early stages of making an offer for the FTSE 250 company. Tritax EuroBox has a market cap of around £484m, but its shares currently trade at a discount of around 33% to net […]
In 2023, Octopus Renewables Infrastructure Trust launched a capital recycling programme. In December 2023 the trust completed the sale of the Krzecin and Kuslin wind farms (totalling 59MW) in Poland, realising net proceeds of about £92m (7% of the total value of all investments as at 30 September 2023) – a 21% premium over the […]
LondonMetric Property has published its first annual results since the acquisition of LXi REIT, resulting in a 20.3% boost in earnings. Net contracted rent increased over the year from £145m to £340m as a result of the merger, with EPRA earnings growing to £121.6m – up 5.4% on a per share basis. EPRA cost ratio […]
