BBGI Global Infrastructure (BBGI) has published its annual results for the year ended 31 December 2024, delivering a NAV total return of 2.1% in a year marked by solid portfolio performance but constrained capital deployment. Despite macroeconomic headwinds and continued discount-related challenges, BBGI’s globally diversified portfolio of 56 availability-style social infrastructure assets maintained a high […]
In QuotedData’s morning briefing 28 March 2025: Baillie Gifford Japan Trust (BGFD) has reported its unaudited interim results for the six months to 28 February 2025. During the period, the trust delivered a net asset value (NAV) total return of 1.5%, while the share price total return came in at 2.9%, both comfortably ahead of […]
The board of Urban Logistics REIT has urged shareholders to vote against all of the proposals made by Achilles Investment Company in its requisition request, as a war of words hots up between the two companies. Achilles has requested the immediate replacement of chairman Nigel Rich and director Heather Hancock as well as the removal […]
LondonMetric has agreed a deal to acquire TISE-listed Highcroft, a UK REIT which owns a portfolio of real estate assets weighted towards logistics (52%) and retail warehousing (27%). The recommended all-share offer will see Highcroft shareholders receive 4.65 new LondonMetric shares for each Highcroft share. On the basis of the closing price per LondonMetric share of 181.1p […]
The board of Warehouse REIT has announced that it would be minded to recommend Blackstone’s cash offer for the company. Blackstone made a final offer earlier this week at 115.0p per share, valuing the company at £489m. It said that it would engage in discussions with Blackstone in relation to terms and to allow Blackstone […]
India Capital Growth’s results for the 12 months ended 31 December 2024 show an NAV return of 16% and share price return of 11.3% (as the discount widened from 3.9% to 7.9%). [The chair describes 2024 as a strong year for the company – which it was in absolute terms – but while the chair’s […]
Fidelity Japan’s results for 2024 show marked underperformance of its benchmark, with a NAV return of -1.8% and share price return of -5.7% against +10.0% for the TOPIX. The chair says “this now means that the three and five year returns for the company are disappointingly behind the Index and have also lagged competitor funds.” […]
Montanaro European Smaller Companies has announced three strategic initiatives designed to strengthen the investment proposition and deliver value for all shareholders. These are: Regular 5% tender offers targeted at improving liquidity Active share buy back policy aimed at reducing the volatility of the discount Reduced management fees Regular tender offers to improve liquidity: Conscious of […]
M&G Credit Income delivered a return of 8.08% over 2024, compared to a benchmark return of 9.50%. The share price total return was 14.6%, however, as the shares moved from trading on a 4.2% discount to a 1.6% premium. The dividend was upped from 7.96p to 8.53p. Some of that came from capital as the […]
Henderson High Income’s results for 2024 show an NAV return of 9.4% and share price return of 10.8%, both ahead of the company’s benchmark (80% of the FTSE All-Share Index (total return) and 20% of the ICE BofA Sterling Non-Gilts Index) which returned 7.9%. The dividend rose from 10.35p to 10.60p (making it 12 years […]
International Public Partnerships has announced results for the year to 31 December 2024. The NAV per share decreased to 144.7p (31 December 2023: 152.6p) primarily driven by an increase in discount rates, reflecting the sharp rise in underlying government bond yields during the period. As a result, the weighted average discount rate has increased from […]
Octopus Renewables Infrastructure Trust has released results for the 12 months ended 31 December 2024. The NAV total return for the year was 2.5%, but the share price fell from 90p to 68p. The dividend rose by 4% to 6.02p, in line with UK inflation (CPI). The target dividend for FY 2025 is up by […]
In QuotedData’s morning briefing 27 March 2025: STS Global Income & Growth (STS) says that, with effect from 1st May 2025, Tomasz Boniek will become its co-manager, working alongside James Harries. Tomasz joined Troy’s investment team eight years ago and has been an assistant fund manager for STS Global Income and Growth since Troy’s appointment […]
Henderson High Income Trust (HHI) has announced a reduction in its management fee, effective from 1 January 2025. The trust’s board and manager have agreed to revise the existing fee structure in a move that should be welcomed by shareholders. Under the new terms, HHI will pay a flat management fee of 0.45% per annum […]
Achilles Investment Company Limited has announced that Waverton Investment Management, TR Property Investment Trust and Harwood Capital collectively managing shares representing approximately 8.8% of the issued share capital of Urban Logistics REIT, intend to serve a requisition on the company to convene an extraordinary general meeting. The purpose of this meeting is to propose: The […]
EPE Special Opportunities (ESO) has announced its annual results for the year ended 31 January 2025. The company’s NAV rose by 1%, although shares fell 10%, driven by increasing market volatility. The company has continued to prioritise liquidity during the ongoing challenging economic environment. It had cash balances of £11.9m as at 31 January 2025, […]
Downing Renewables & Infrastructure (DORE) has announced its annual report for the financial year ended 31 December 2024. Despite strong return on capital deployed, during the year the NAV per ordinary share decreased marginally by 0.8% from 117.7 pence at 31 December 2023 to 116.7 pence at 31 December 2024. The reduction in NAV was […]
The Schiehallion Fund (MNTN) has announced its annual results for the year ended 31 January 2025. The company delivered a NAV total return of 12.9% and share price returned 51.0%. The share price discount to NAV narrowed from 39.6% to 19.2%. Since launch on 27 March 2019 to 31 January 2025, the company has delivered […]
abrdn Asian Income Fund (AAIF) has announced its annual results for the year end 31 December 2024. The company delivered a share price total return of 12.0% and a NAV total return of 10.8%, slightly behind the benchmark which returned 12.6%. The company also saw a 22.8% increase in the dividend for the year, providing […]
The Renewables Infrastructure Group (TRIG) has announced an update to its investment management agreement and the introduction of a continuation vote. Management fee arrangements Further to the announcement of 25 February, and after extensive consultation with a broad range of the company’s shareholders, the board has agreed with its managers, InfraRed Capital Partners and Renewable […]
Schroder UK Mid Cap Fund (SCP) has announced a number of strategic initiatives, including a management fee reduction, continuation vote and buyback policy designed to further strengthen the company’s investment proposition and deliver value for all of its shareholders. Management fee reduction The board has agreed a management fee reduction with Schroder Unit Trusts Limited. […]
In QuotedData’s morning briefing 26 March 2025: CT UK High Income Trust (CTUK) has announced a fourth quarter dividend in respect of the financial year to 31 March 2025 of 1.74 pence per ordinary share. This dividend will be paid on 2 May 2025 with an ex-dividend date of 3 April 2025. A fourth quarter […]
Harmony Energy Income Trust (HEIT) has agreed terms for a recommended cash offer from Drax Bidco, a wholly owned subsidiary of Drax Group Plc (DRX), which values HEIT at approximately £199.9m. The offer will be implemented by way of a scheme of arrangement and provides shareholders with 88p per share in cash. The offer represents […]
Middlefield Canadian Income announced its annual results for the year ended 31 December 2024. The company delivered very good relative performance in 2024. MCT delivered shareholder total returns of 20.6% and a NAV total return of 15.1%, both of which comfortably outperformed the benchmark total return of 7.6%. Financials, Energy, and Utilities were all positive […]
BioPharma Credit (BPCR) announced its annual results for the year end 31 December 2024. The company generated net income per share of 9.99 cents and paid 10.18 cents in dividends, 3 cents above target. It reported net income return from ordinary activities of $122m. On 31 December 2024, the company’s shares closed at a share […]
SEGRO has announced plans to develop a £1bn data centre at Park Royal in west London. The company has formed a joint venture with Pure Data Centres Group, owned by Oaktree, to finance the development of a 56MW scheme. It said that it expects to pre-let the 30,000 sqm, three-storey building to a hyperscaler. Gross capital […]
Regional REIT’s annual results for 2024 highlighted both the severe headwinds the company is facing and the early effects of the turnaround strategy it has put in place. The numbers do not make for easy reading, with the EPRA net tangible assets (NTA) down just over 40% to 210.2p per share from its restated 2023 […]
Blackstone has made a final indicative all cash bid to the board of Warehouse REIT of 115.0 pence per share, valuing the company at £489m. This follows a proposal for the company of 110.5 pence in early March made by Blackstone and fellow US private equity company Sixth Street. The new indicative offer (which has […]
In QuotedData’s morning briefing 25 March 2025: Rights and Issues Investment Trust (RIII) has announced that its board has decided to withdraw resolution 10, the authority to buy back shares, from the business of the company’s annual general meeting held on 24 March 2025 and therefore the share repurchase programme announced on 31 July 2024 […]
Herald Investment Trust (HRI) has announced that shareholders have voted overwhelmingly in favour of the trust’s continuation at its AGM today. Resolution 11, the continuation vote, was passed with a significant majority, further underlining support for the board and its strategy. Crucially, if votes believed by the board to have been cast by or on […]
