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 […]
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 […]
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 […]
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 […]
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 […]
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% […]
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 […]
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 […]
Great Portland Estates has secured its largest ever letting – the 321,100 sq ft pre-let of its office development, 2 Aldermanbury Square, EC2, to international law firm Clifford Chance LLP. Clifford Chance has entered an agreement to lease the lower ground to twelfth floors, on separate 20-year leases, with options to break at year 15 […]
HydrogenOne Capital Growth (HGEN) has announced that it is now classified as an Article 9 Fund under the EU Sustainable Finance Disclosure Regulation (SFDR) and EU Taxonomy Regulation (EU Taxonomy). The Article 9 classification means that HGEN has a sustainable investment objective and will be reporting greenhouse gas emissions and avoided greenhouse gas emissions on […]
The Biotech Growth Trust (BIOG) has announced its interim results for the six months ended 30 September 2022. Its chairman, Roger Yates, says that after a very difficult year to 31 March 2022, during which the trust’s NAV fell substantially and underperformed its benchmark (the NASDAQ Biotechnology Index), the first six months of the current year have seen […]
In QuotedData’s morning briefing 16 November 2022: ThomasLloyd Energy Impact (TLEI/TLEP) has announced the results of its placing that was announced on 8 November 2022. The ‘subsequent placing’ raised gross proceeds of US$35.3m and 34,277,228 new ordinary shares are being issued at a price of US$1.030 (£0.865 being the announced sterling equivalent price) per ordinary […]
In QuotedData’s morning briefing 15 November 2022: The Financial Times has a story that the government has made another U-turn on its energy policy and will revert to the idea of a windfall tax on renewable generators, this despite it having passed the legislation necessary to impose a price cap. More detail should be forthcoming […]
In QuotedData’s morning briefing 14 November 2022: CT Private Equity Trust (CTPE) sold a portion of its investment in the Italian funeral services business of San Siro and related entities (HOFI S.p.A.) on 10 November 2022. CTPE initially invested in San Siro in January 2019 in a deal led by Augens Capital. This investment has […]
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: • Majedie • ThomasLloydEnergy Impact • Crystal Amber This week’s interview was with James de Uphaugh from Edinburgh Investment Trust – watch it again here.
This week, I had the opportunity to join a capital markets day for JLEN Environmental Assets (JLEN). The event, which was well attended, provided us with a useful update on JLEN’s strategy (which was welcome in light of current market conditions). We also had a presentation from Sten Falkum (CEO of Hima Seafood) and Heidi […]
Long Term Assets Limited (LTA) has issued an intention to float (ITF) this morning, in which it has announced plans for an initial public offering (IPO) on the Specialist Fund Segment of the main market of the London Stock Exchange. LTA says that it will then launch a 12-month placing programme, aimed in particular at […]
On 2 November 2022, Hurricane Energy Plc, in which Crystal Amber (CRS) holds a 28.9% interest, announced that it had received an unsolicited offer for the company and that following a period of engagement with the bidder Hurricane had received an offer for the entire issued share capital of the Company at an indicative offer […]
abrdn Latin American Income (ALAI) has published its annual results for the year ended 31 August 2022. During the period, ALAI’s net asset value (NAV) rose 6.8% in total return terms over the year, compared with an increase of 11.5% for the benchmark. The share price was broadly flat over the period, ending the year […]
In QuotedData’s morning briefing 11 November 2022: Capital Gearing Trust (CGT) has announced its interim results for the six months ended 30 September 2022. At the half-year end, CGT’s net asset value per share was 4,798.4p, compared to 5,025.1p at 31 March 2022. This represents an NAV total return of -3.5% over the previous six […]
Majedie says that it plans to appoint Marylebone Partners as its investment manager and AIFM and change its approach to that of a ‘liquid endowment model’. Founded in 2013, Marylebone Partners is an independent firm, currently managing approximately $400m for professional and institutional clients who include charities, foundations, family offices, high-net worth individuals, and trusts. […]
Over the 12 months to the end of August 2022, Schroder Income Growth lagged the All-Share Index, delivering a return on NAV of -2.7% and a return to shareholders of -4.7% against a +1.0% return for the benchmark index. The dividend was increased to 13.2p, up 3.1% on the previous year and this was covered […]
In QuotedData’s morning briefing 10 November 2022: JZ Capital Partners (JZCP) is clawing its way back to normality, reporting an NAV at 31 August 2022 of $4.71, up from $4.29 at 28 February 2022, and a much less problematic debt burden – now just reduced to a $45.0m Senior Term Loan Facility due 26 January […]
Pantheon Infrastructure (PINT) has committed to invest approximately €52.7m (£46.0m at current exchange rates) in Asterion Industrial Partners’ interest in National Broadband Ireland (NBI), an Irish fibre to the premises (FTTP) network developer and operator. NBI is working on a project that is expected to help bridge the digital divide between rural and urban areas […]
In QuotedData’s morning briefing 9 November 2022: Picton Property Income (PCTN) has published its interim results for the six months ended 30 September 2020 in which its NAV fell 2.3% to 117p per share. This was mainly driven by a like-for-like portfolio valuation decrease of 1.9% to £852m. EPRA earnings were stable at £10.7m, or […]
ThomasLloyd Energy Impact plans to issue shares at $1.03 each to help finance a number of projects in its pipeline of projects in India, the Philippines and Vietnam. The pipeline allows for a staggered roll-out starting from US$25m with up to US$380m in readily available assets ranging from 20 MW to 450 MW, the majority […]
AVI Global has published results for the 12 months ended 30 September 2022. Markets were weak over the period and the trust’s benchmark, the MSCI All Country World Index excluding the United States (in sterling) fell by 9.6%. The trust held up better than that, however, generating a return on NAV of -7.3%. Unfortunately, a […]
In QuotedData’s morning briefing 8 November 2022: Triple Point Energy Transition (TENT) has made its first energy efficient lighting investment. TENT has provided funding of £1m to a lighting solutions provider, which has installed efficient lighting and controls at a large retail logistics specialist. TENT will receive a contractual income from the logistics specialist over […]
Cordiant Digital Infrastructure (CORD) has announced that it has received regulatory approval for the acquisition of Emitel, expected to be completed mid—November 2022. Emitel is the second large, diversified digital infrastructure platform acquired by CORD, purchased for PLM 1920m (c.£360m). The completion of the transaction will mean a full utilisation of CORD’s Eurobond facility of […]
In QuotedData’s Morning briefing 7 November 2022: ICG Enterprise Trust (ICGT) has announced a $15m commitment to Clayton, Dubilier and Rice Fund XII . This is ICGT’s second commitment to funds managed by CD&R, following a $10m commitment to CD&R XI in 2020. CD&R is a global investment firm, headquartered in New York, that executes a […]
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