2022 has been a tough old year, with investors being visited by their own kind of Ghost of Christmas Past. One whose name is inflation, a long-forgotten spectre. 2022 has seen, for some countries, a truly parabolic growth rate of inflation. While pundits had predicted that the post-COVID rebound in activity would be a possible […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Home REIT – update (1:45) • Abrdn Property Income – debt (10:20) • Foresight Forestry – first results (15:08) This week’s interview was with […]
JPMorgan Asia Growth & Income (JAGI) has published its annual results for the year ending 30 September 2022. Over the 12-month period JAGI generated a NAV total return of -16.2%, and share price total return of 17.2%, compared to the -13.9% of its benchmark, the MSCI All Countries Asia ex Japan Index. Over the longer, […]
In QuotedData’s morning briefing 16 December 2022: International Public Partnership (INPP) has announced that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure Group and Transmission Investment, has successfully closed on the long-term ownership of East Anglia Offshore Transmission. The project relates to a transmission cable connection to the offshore wind farm located approximately 50km off […]
Foresight Sustainable Forestry has published results covering the period from its incorporation on 31 August 2021, through its listing on 24 November 2021, to 30 September 2022.The NAV per share at the end of the period was 105p, which it says means that it generated a total return of 5%, but the convention is to […]
Oakley Capital Investments has committed €30m to Oakley Capital PROfounders Fund III, a venture capital fund focused on investments in entrepreneur-led, private businesses across Europe and part of the Oakley Capital family of funds. The announcement says that “Reflecting Oakley’s entrepreneurial ethos and investment strategy, PROfounders III will continue its proven investment strategy, leveraging its […]
Over the 12 months ended 30 September 2022, GCP Infrastructure’s NAV rose from 103.99p to 112.80p. Higher electricity prices had a significant positive effect on returns even after the Valuation Agent reflected the expectation of an electricity price cap being applied to generators, capping the expected price for 2023 and 2024 at £150 per MWh. […]
Octopus Renewables Infrastructure Trust says that construction work on its Cerisou Wind Farm in France has been completed and the site is now fully operational. This onshore wind farm project was acquired in October 2020, construction commenced in mid-2021, and the site started generating power during Q3 2022, in line with expected timelines. The 24MW […]
Harmony Energy Income Trust has completed its £21.5m purchase of three ‘shovel-ready’ pipeline energy storage projects totalling 181.9 MW / 363.8 MWh, increasing the portfolio to nine projects with a total capacity of c.500MW / 1GWh. These deals were done under an agreement that the trust secured at IPO which gave it a right of first […]
LondonMetric Property has acquired a retail park asset from an open ended property fund for £38.0m through one of its joint ventures (LondonMetric share: £19.0m). The acquisition price reflects a net initial yield of 5.4%, rising to 5.7% upon completion of short term asset management initiatives. The 68,000 sq ft property is located on a […]
In QuotedData’s morning briefing 15 December 2022: HydrogenOne Capital Growth (HGEN) is making an investment of €1.25m in Strohm Holding B.V. This follows on from its 12 August 2022, €10m investment. This funding round enabled Strohm, the world’s first and leading producer of Thermoplastic Composite Pipe (TCP) to accelerate the expansion of its manufacturing operations. […]
JPMorgan China Growth & Income (JCGI) has published its annual results for the year ended 30 September 2022. During the period, JCGI provided an NAV total return of -36.7%, underperforming the MSCI China Index, which declined 22.0%. The Company delivered a return to ordinary shareholders of -38.5%, reflecting a widening in the discount at which […]
abrdn New Dawn (ABD) has published its interim results for the six months ended 31 October 2022. During the period, ABD provided an NAV total return of -12.7%, which is modestly ahead of the equivalent return on its benchmark, the MSCI All Countries Asia Pacific ex Japan Index, of -13.7% (all in sterling terms). The […]
LXI REIT has renegotiated the leases of the 122 Travelodge hotels, extending the weighted average lease length by a further nine years. The portfolio of hotels was acquired by LXI as part of the Secure Income REIT merger. In return for the nine year extensions (which extends the weighted average unexpired lease term to first […]
Ediston Property Investment Company, which invests in retails parks in the UK, has reported a 5.9% increase in NAV in annual results to 30 September 2022. Its EPRA NAV per share is now 94.9p (2021: 89.6p), the uplift driven by a 10.3% portfolio valuation gain in the year to £231.4m. The increase was due falling […]
River and Mercantile UK Micro Cap (RMMC) has published its annual results for the year ended 30 September 2022. During the period, RMMC provided an NAV total return of -48.03%, while its benchmark posted a total return of -26.91%. The chairman, Andrew Chapman says “There can be no doubt that the last year has been […]
JPMorgan Japanese (JFJ) has published its annual results for the year ended 30 September 2022. JFJ underperformed during the first half of its financial year and this continued into the second half, although both relative and absolute performance recovered in the final months of the financial year. Overall, JFJ’s NAV total return for the period […]
In QuotedData’s morning briefing 14 December 2022: International Biotechnology Trust (IBT) has announced that there has been a material adjustment to the valuation of an investment from the unquoted portfolio managed by SV Health Managers LLP in which IBT is invested. As such, IBT’s NAV will therefore increase by £2.5m (US$3.1m) which corresponds to a […]
abrdn Property Income Trust has refinanced its debt again, taking a £3.56m hit to lower the interest rate cap. The company announced on 12 October 2022 (at the height of bond market volatility following the min-budget) that the trust had completed an extension of its debt facilities that were due to expire in April 2023 […]
Lowland says that, over the 12 months ended 30 September 2022, its NAV total return was -14.8% and the return to shareholders was -16.4%, which compares with a return of -4.0% for the All-Share over that period. The annual dividend was upped from 6.025p to 6.1p, double the dividend 10 years earlier. Lowland’s investment policy […]
In QuotedData’s morning briefing 13 December 2022: HgCapital Trust (HGT) is selling its stake in Transporeon, a leading cloud-based logistics and transportation management software platform, to Trimble as part of a transaction that values the whole of that business at an enterprise value of €1.88bn. The trust’s share of the proceeds is about £107.8m. The […]
Keystone Positive Change Investment Trust (KPC) recently released its full year results for the financial year ending 30 September 2022. Over the 12-month period KPC reported a NAV total return of -35.2% and share price total return of -43.3%. This compares to the -3.7% generated by KPC comparative index, the MSCI All Country World Index. […]
Polar Capital Global Healthcare (PCGH) has released its annual results for its financial year ending 30 September 2022 and, over the 12-month period, PCGH returned a NAV total return of 5.59% and share price return of 10.11%. PCGH’s benchmark, the MSCI All Country World/ Healthcare Total Return Index, returned 6.93% over the same period. PCGH […]
Polar Capital Technology (PCT) has released its half year results for the six months ending 31 October 2022 and, over this period it has reported a NAV return of -9.1% and share price return of -7.2%, compared to the -8.9% of its benchmark, the Dow Joes World Technology Index. PCT’s discount was 9.6% as of […]
Home REIT says that it will strengthen its management team and bring in independent pre-purchase valuers as part of several changes to “maintain and enhance shareholder confidence” following a number of allegations in recent weeks. The company will also beef up its board with the appointment of a new non-executive director and hire the services […]
In QuotedData’s morning briefing 12 December 2022: SME Credit Realisation Fund (SCRF) has announced that it has completed its asset realisation strategy, initiated in 2019 following consultation with shareholders accounting for over two-thirds of the register, through the sale of all of its remaining UK and continental European (Germany and Netherlands) loans to a third-party […]
This week, we’ve had annual results Finsbury Growth and Income (FGT), which I thought presented an opportunity to have a look at how the trust is doing and reflect upon our previous observations of the manager’s style. For most readers, FGT needs little introduction. It is a household name in the investment trust space, having […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • VPC Speciality Lending • RTW Venture • Syncona This week’s interview was with Stuart Widdowson from Odyssean Investment Trust – watch it again here.
RTW Venture Fund has drawn investors’ attention to positive data updates on two clinical trials of Prometheus Biosciences, Inc. (NASDAQ: RXDX), its third largest holding, representing about 7.5% of NAV. Prometheus is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for […]
Rockwood Strategic’s (RKW)’s) portfolio company Crestchic, which accounted for 28.7% of RKW’s NAV as at 30 September 2022, has announced that it has agreed terms with Aggreko for a recommended cash offer to be made by Aggreko for the entire issued and to be issued ordinary share capital of Crestchic. Under the terms of the […]
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