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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).

29 Nov 2022

QuotedData’s morning briefing 29 November 2022

In QuotedData’s morning briefing 29 November 2022: Syncona (SYNC) appears to have secured control of Applied Genetic Technologies Corporation, with about 51.8% of that company’s shares tendered to Syncona’s bid. The tender offer is being extended until 5pm (Eastern time) tomorrow (30 November). Separately, Syncona reports that it will receive £16m up front and potentially […]

Companies
28 Nov 2022

Home REIT delays results as it undergoes enhanced audit

Home REIT has delayed the release of its full year results as it undergoes an enhanced audit following a short-seller attack. The company had been due to announce results for the period to 31 August 2022 this morning, but it says that in the wake of the allegations made by short-seller Viceroy Research last week […]

Sectors
28 Nov 2022

JLEN Environmental Assets half-year results

JLEN Environmental Asset (JLEN) has reported its half year results, for the six-month period ending 30 September 2022. JLEN reported a NAV of £890.2m, equal to 125.4p per share, an increase from the £795.4m it reported on 31 March 2022. JLEN has generated a share price total return of 92.4% since its IPO, equal to […]

28 Nov 2022
221128 POLN

QuotedData’s morning briefing 28 November 2022

In QuotedData’s morning briefing 28 November 2022: Pollen Street (POLN) has provided its Q3 update. As a reminder, POLN has formed from the merger of Honeycomb Investment Trust and Pollen Street Capital Holdings on 30 September 2022, and focuses on high quality, asset-backed senior secured lending. POLN reported a return on Net Investment Asset of […]

25 Nov 2022

QD view – the right REIT?

Discounts to net asset value (NAV) in the property sector have been pretty eye-watering over the last few weeks as the market tries to price in an appropriate level of asset value deterioration in this high interest rate environment. Some have been singled out more than others. Take the AIC’s Property – UK Commercial sector […]

Sectors
25 Nov 2022

QuotedData’s weekly news show 25th November 2022

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: • Renewables/infrastructure NAVs • Digital 9 Infrastructure • NB Global Monthly Income • Home REIT This week’s interview was with Bruce Stout from Murray International […]

Sectors
Companies
25 Nov 2022
221125 ICGT Gateway Services

ICG Enterprise makes two new direct investments

ICG Enterprise Trust (ICGT) is pleased to announce that it has recently made two new direct co-investments: US$9.0m (£7.9m) in Gateway Services and a US$5.0m (£4.2m) follow-on co-investment in Vistage Worldwide. Gateway Services – a direct co-investment alongside ICG Gateway Services Inc (www.gatewayservicesinc.com) operates a network of pet crematoria and pet cemeteries across over 150 […]

25 Nov 2022
a coffee pot and a mug, good morning from QuotedData

QuotedData’s morning briefing 25 November 2022

In QuotedData’s morning briefing 25 November 2022: Following shareholder approval of its new investment objective and policy, JPMorgan Russian Securities Plc has changed its name to JPMorgan Emerging Europe, Middle East & Africa Securities Plc. The trust’s stock ticker is changing from JRS to JEMA with effect from 8.00am on 25 November 2022, although the […]

24 Nov 2022
home reit logo over a picture of a residential street

Home REIT hit by short-seller attack

Home REIT has said that a report by a short-seller attacking the company is “inaccurate and misleading” and “based on mistaken assumptions, misinformed comments, and disputable allegations”. Viceroy Research alleged that many of the tenants Home REIT works with to provide accommodation for homeless people “cannot afford rent, have not been paying rent, are in […]

Sectors
24 Nov 2022

No windfall tax hit for Downing Renewables

Downing Renewables and Infrastructure Trust says that its NAV for 30 September 2022 rose by 1.5p over the previous three months to 117.7p. The total return for the period, including the 1.25p dividend paid in the period, was 2.6%. The movement in NAV during the period was attributable to several factors: financial performance (+1.3pps); advantageous […]

24 Nov 2022

International Public Partnerships on the impact of rising interest rates

As part of a general round up of recent progress within its business (the major parts of which we have covered in earlier stories), International Public Partnerships has provided its thoughts on the impact of rising interest rates on its business. The elements of the company’s investments that could primarily be impacted as a result […]

Sectors
24 Nov 2022
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 24 November 2022

In QuotedData’s morning briefing 24 November 2022: Foresight Solar Fund (FSFL) says that the net impact of the new electricity generator levy on its NAV is to reduce it by 0.8p. As other funds did, it applied discounts to the blended power forecasts as at 30 September 2022. To reflect the uncertainty surrounding the likely […]

Companies
23 Nov 2022
221123 seit blocpower

SDCL Energy Efficiency Income Trust makes loan to BlocPower Energy Services

SDCL Energy Efficiency Income Trust (SEIT) has signed an agreement to finance the design, acquisition and installation of energy efficiency solutions across various buildings in the US for BlocPower Energy Services 2 LLC , a wholly owned subsidiary of leading energy efficiency developer BlocPower LLC, through a 10% participation in a US$80m loan facility. BlocPower […]

23 Nov 2022
a coffee cup next to an alarm clock

QuotedData’s morning briefing 23 November 2022

In QuotedData’s morning briefing 23 November 2022: Worldwide Healthcare (WWH) has announced its interim results for the six months ended 30 September 2022. During the period, WWH provided an NAV total return of 3.1%, modestly outperforming its benchmark, the MSCI World Healthcare Index, which returned 2.1% during the period. In absolute terms, net asset value […]

Sectors
Companies
22 Nov 2022

NAV progression at Bluefield Solar despite windfall tax

Bluefield Solar Income Funds says that its NAV as at 30 September 2022 was £884.0m or 144.6p per share, up from 140.4p as at 30 June 2022. This equates to an NAV total return for the quarter of 3.0% and gearing (based on the gross asset value) of 34%. The major factors behind this change […]

22 Nov 2022
221122 bgeu

A reversal of fortune for Baillie Gifford European

Baillie Gifford European’s results for the 12 months ended 30 September 2022 show the impact of the change in sentiment towards growth investing on the company. Over the period, the NAV total return was -40.4% compared to a total return of -15.3% for its benchmark index. The share price total return for the same period […]

Sectors
22 Nov 2022
221117 tigt

Princess Private Equity suspends all new investment activity

Princess Private Equity, which announced that it would not pay its dividend earlier this month, is holding a webinar today to explain what is going on at the company. However, the situation seems worse than first appeared as the company has also suspended all new investment activity. It says “underlying conditions such as the challenging […]

22 Nov 2022
221122 AERI The Rock

QuotedData’s morning briefing 22 November 2022

In QuotedData’s morning briefing 22 November 2022: Aquila European Renewables (AERI) says that 95% of all 72 turbines at its Norwegian Rock project are now in operation, whilst the remaining turbines are subject to corrective maintenance. A production-based availability warranty will cover any losses if availability is below 97% in the first year of operations […]

Companies
21 Nov 2022
221121 AT85 ITF

AT85 Global Mid-Market Infrastructure Income issues ITF

AT85 Global Mid-Market Infrastructure Income Plc (AT85) has as issued an intention to float (ITF) this morning, in which it has announced plans for an initial public offering (IPO) for a premium main market listing on the London Stock Exchange, targeting a capital raise of £300m. The IPO includes a placing to institutional investors; an […]

Sectors
21 Nov 2022

NextEnergy Solar grows NAV and outperforms generation budget

NextEnergy Solar Fund (NESF) has published its interim results for the six months ended 30 September 2022. The period saw NESF’s NAV per share increase by 8.3% to 122.9p, up from 113.5p as at 31 March 2022. The main contributors to the increase in the NAV were an increase in power price forecast assumptions (+12.0p […]

21 Nov 2022

NB Global Monthly Income proposes managed wind down

NB Global Monthly Income (NBMI) has announced that, following a review of its strategy and future prospects, its Board has decided not to implement its semi-annual cash exit facility in December 2022 but instead to put forward proposals for approval by shareholders to place the company into a managed wind-down. Wind-down triggered by NAV dropping […]

Sectors
21 Nov 2022
WPCT-backed Immunocore enters Phase I with lead GSK project

BioPharma Credit provides senior loan to Immunocore

BioPharma Credit (BPCR) has announced that, together with BioPharma Credit Investments V, it has entered into a senior secured loan agreement with Immunocore Limited. BPCR will invest up to US$50m and BioPharma-V will also invest up to an additional US$50m. Based in the UK, Immunocore is a publicly traded biopharmaceutical company with a current market […]

Sectors
21 Nov 2022
a coffee cup next to an alarm clock

QuotedData’s morning briefing 21 November 2022

In QuotedData’s morning briefing 21 November 2022: Personal Assets (PNL) has published its interim results for the six months ended 31 October 2022. During the period, PNL provided an NAV total return of -3.6%, outperfoming its All-Share benchmark, which it says provided a total return of -5.8%. PNL’s shares continued to trade close to NAV […]

Geographies
  • Europe (EU and EEA ex UK)
  • North America
  • UK
Sectors
18 Nov 2022

QuotedData’s weekly news show 18th November 2022

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: • Long Term Assets • Renewables windfall tax This week’s interview was with Jeff O’Dwyer from Schroder European REIT – watch it again here. previous […]

Companies
18 Nov 2022
221118 markets

QD view – IPOs back on the agenda?

For a sector that has got used to quite substantial amounts of fundraising, 2022 has proved a lot trickier for funds and brokers. Some of the stalwarts of the sector such as the infrastructure and renewable energy funds have ended up on discounts. Pantheon Infrastructure, for example, which had to turn away cash at its […]

Sectors
18 Nov 2022
221118 CLSC

Conviction Life Sciences publishes prospectus for £100m IPO

A new Guernsey domiciled investment company, Conviction Life Sciences (CLSC), published a prospectus on 16 November 2022 for its initial public offering (IPO). The prospectus is availale here. The IPO is targeting gross proceeds of £100m and CLSC plans to list on the main market of the London Stock Exchange. It is expected that CLSC’s […]

Sectors
17 Nov 2022
221115 Jeremy Hunt

45% windfall tax on renewable electricity from 1 January 2023

45% windfall tax on renewable electricity from 1 January 2023 A new electricity generator levy will come into force from 1 January 2023 and run until 31 March 2028. The levy will be a new 45% tax on extraordinary revenues above a pre-crisis price baseline of £75 per MWh made by certain renewable, nuclear and […]

Companies
17 Nov 2022
221117 tigt

Troy Income and Growth fails to cover meagre dividend

Troy Income and Growth has published results for the 12 months ended 30 September 2022. The trust delivered a NAV total return of -9.9% and share price total return of -10.2%. Both lagged the All-Share Index which produced a total return of -4.0%. The dividend for the year totalled 1.97p, representing a yield of 2.9% […]

17 Nov 2022
221117 orit simply blue

Octopus Renewables ups stake in floating wind company

Octopus Renewables Infrastructure Trust has invested an additional €6.25m (about £5.5m) into Simply Blue Holdings Limited, the parent company of the Simply Blue Group, an Irish developer of predominantly floating offshore wind projects. Octopus Renewables first invested in Simply Blue in August 2021 taking about a 12% stake. Following this latest investment, Octopus Renewables’s ownership […]

17 Nov 2022
221117 going up

QuotedData’s morning briefing 17 November 2022

In QuotedData’s morning briefing 17 November 2022: As interest rates continue to climb, NB Global Monthly Income Fund (NBMI) is increasing its dividend once again. The target distribution for the remainder of 2022 is a rate of 8.10% of NAV each year (net of fees and expenses) which equates to a target monthly distribution for […]

Companies
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