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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).

24 Oct 2022

Positive NAV increase for Schroder BSC Social Impact

For its financial year ending 30 June 2022, Schroder BSC Social Impact (SBSI) reported a NAV return of 1.6%, with a 7.8% NAV return since inception (5.1% annualised) on 22 December 2020. The three largest drivers behind SBSI’s NAV performance were its Charity Bond portfolio, an uplift in valuation of its holding in Community Investment […]

Sectors
24 Oct 2022

QuotedData’s morning briefing 24 October 2022

In QuotedData’s morning briefing 24 October 2022: Ecofin U.S. Renewables Infrastructure (RNEW) says that its investment manager, Ecofin Advisors, has appointed Eileen Fargis as the Ecofin group lead and portfolio manager for RNEW, effective today. Eileen has over 20 years’ industry experience, most recently as head of investments for InterEnergy Holdings, an independent developer, owner, […]

21 Oct 2022

QuotedData’s weekly news show 21st October 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: • HICL Infrastructure – new NAV • Downing Renewables and Infrastructure – info re potential price cap impact This week’s interview was with Ross Driver […]

Sectors
21 Oct 2022

QD view – has logistics been oversold?

They say a week is a long time in politics, try a day. Wednesday was a breathtakingly embarrassing day for the government, with the calamitous Liz Truss finally falling on her sword of uncosted tax cuts on Thursday. This will mean that the UK will have its third prime minister in less than two months […]

Sectors
Companies
21 Oct 2022

Manchester and London hurt by technology exposure

Manchester and London (MNL) has announced its annual results for the year ended 31 July 2022, during which an NAV total return of -23.0%* (2021: 8.7%*), which represents a 30.3% underperformance against its benchmark (the MSCI UK Investable Market Index). Software, which represents a large percentage of MNL’s portfolio, had a tough year with the […]

21 Oct 2022
a coffee cup next to an alarm clock

QuotedData’s morning briefing 21 October 2022

In QuotedData’s morning briefing 21 October 2022: Dunedin Enterprise (DNE) has announced details of a tender offer that will return up to £41m to shareholders. This follows DNE realising its investment in Incremental and Dunedin Buyout Fund II LP completing the realisation of its investment in RED. Shareholders who successfully tender shares will receive the price […]

Sectors
20 Oct 2022

BioPharma makes $140m loan to Insmed

BioPharma Credit has, together with BioPharma Credit Investments V (Master) LP, entered into a senior secured loan agreement with Insmed Incorporated. The company invested US$140m and BioPharma-V invested an additional US$210m. BioPharma Credit only put up 40% because it needed to hold cash to fund its discount control mechanism. Based in the US, Insmed is […]

Sectors
20 Oct 2022

QuotedData’s morning briefing 20 October 2022

In QuotedData’s morning briefing 20 October 2022: Riverstone Credit Opportunities (RCOI) says that its NAV rose by 7% over the third quarter of 2022, hitting $1.10. The major driver was  Seawolf Water Resources but the fund also realised its investment in FS Crude LLC, crystallising a 14.8% gross IRR and a 1.23x gross MOIC; Circulus Holdings […]

Companies
19 Oct 2022

Baillie Gifford Japan’s geared small cap growth exposure “unhelpful”

Baillie Gifford Japan Trust (BGFD) has announced its annual results for the year to 31 August 2022, during which it provided an NAV total return of -16.3% compared to a -3.9% total return for the benchmark TOPIX index (in sterling terms). During the period, BGFD’s share price fell by 23.8%. BGFD says that its biases […]

19 Oct 2022

QuotedData’s morning briefing 19 October 2022

In QuotedData’s morning briefing 19 October 2022: Fair Oaks Income’s (FAIR’s) 2021 prospectus stated that, in the event that the Realisation Shares and 2021 Shares trade at discount to any quarter end NAV, calculated on the date that the relevant NAV is published, 25% of that quarter’s investment management fees (in respect of the Realisation […]

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

CT Property Trust posts 34.3% jump in NAV but warns valuation declines to come

CT Property Trust (formerly BMO Real Estate Investments) has posted a 34.3% NAV total return in annual results to 30 June 2022. The group’s NAV jumped 30.1% in the year to 132.8p per share, while it paid dividends of 4p per share. The dividend was fully covered by earnings by 106.5%. The company’s share price […]

Sectors
18 Oct 2022
QuotedData's Economic and Political Monthly Roundup October 2022

HICL updates investors on impact of economic turmoil

HICL Infrastructure does not plan to publish its interim results until 23 November 2022. However, it is publishing an estimate of its end September NAV today and, given the economic and political backdrop, it is not bad news. The board expects to announce a moderate increase in the unaudited NAV of 1.2p to 164.3p. The […]

Sectors
18 Oct 2022

QuotedData’s morning briefing 18 October 2022

In QuotedData’s morning briefing 18 October 2022: Tufton Oceanic Asssets (SHIP) says that its end September NAV was $1.479 (132.5p), giving investors a return for the third quarter of 3.3% on NAV. The target annual dividend is being increased from $0.080 to $0.085 per share, to commence from 4Q22. After the increase, the company is […]

17 Oct 2022

Downing Renewables & Infrastructure – making sense of price caps for renewable generators

In light of both the UK Government’s proposal to introduce a “cost-plus-revenue limit” on renewable generators and the European Commission’s proposal for price caps for renewable generators, Downing Renewables & Infrastructure (DORE) has provided an update with respect to its forecast revenues for the periods 2023-2025 and 2026-2035 that were used for its 30 June […]

17 Oct 2022

A “disappointing” year for JPMorgan UK Smaller Companies

JPMorgan UK Smaller Companies (JMI) has announced its annual results for the financial year to 31st July 2022, which its chairman, Andrew Impey, describes as “disappointing”. Over the year, JMI’s NAV total return was -23.8% as compared to the Numis Smaller Companies plus AIM Index (excluding investment companies) which returned -16.0%. In addition, and in […]

17 Oct 2022

abrdn Asia Focus holds up well in difficult market

abrdn Asia Focus says that, for the year ended 31 July 2022, it generated an NAV return of -2.0% and a share price return of -1.7%, both ahead of the -5.1% return on the MSCI Asia ex Japan Small Cap Index. The dividend was upped from 3.2p to 8.0p and this was covered by revenue […]

Sectors
17 Oct 2022

Seraphim Space – repurchases not in shareholders best interests despite 47% discount

Seraphim Space (SSIT) has announced its annual results for the year ended 30 June 2022. During the year, SSIT’s NAV grew by 1.9%, but its share price fell by 47.0%, so it finished its year end on a 47.% discount to NAV. The chairman, Will Whitehorn says that “Given the discrepancy of performance between NAV […]

Sectors
17 Oct 2022
US Solar Fund

US Solar announces strategic review

In a surprise move, US Solar Fund has announced a strategic review. The announcement notes that the fund has successfully executed its strategy of delivering a sustainable dividend for shareholders, but laments problems with growing its asset base. The board says that it maintains strong conviction in the value of the assets, the business plan, […]

17 Oct 2022
a coffee cup next to an alarm clock

QuotedData’s morning briefing 17 October 2022

In QuotedData’s morning briefing 17 October 2022: Cordiant Digital Infrastructure (CORD) has announced that the final regulatory clearance process, for the acquisition of Emitel SA, the Polish multi-asset digital infrastructure platform, remains ongoing but that it has been notified that the process has been extended until 21 November 2022. It says that the final regulatory […]

14 Oct 2022

QuotedData’s weekly news show 14th October 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: • Taylor Maritime • Harmony Energy C share This week’s interview was with Jonathan Maxwell from SDCL Energy Efficiency – watch it again here.  

Sectors
14 Oct 2022

QD view – navigating troubled waters

When I started writing this article, it was being widely reported that the chancellor, Kwasi Kwarteng, had been forced to cut short his visit to the US and was returning to London to face urgent talks with the prime minister and Conservative MPs. Before I had finished it, he was out of a job, with […]

Sectors
Companies
14 Oct 2022

Schroder Japan Growth benefits from value bias and gearing

Schroder Japan Growth (SJG) has published its annual results for the year ended 31 July 2022, during which it provided an NAV total return of 1.0%, outperforming its benchmark which produced a negative total return of -1.9% over the year. The share price fell -2.0% on a total return basis, with the discount averaging 11.0% […]

14 Oct 2022
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 14 October 2022

In QuotedData’s morning briefing 14 October 2022: Hipgnosis Songs Fund (SONG) has announced that it has appointed Singer Capital Markets Securities Limited to manage an “irrevocable share repurchase programme” to buy back ordinary shares within certain pre-set parameters. The Share Purchase Programme will commence today and will run until 8 December 2022. Castelnau Group (CGL) […]

Sectors
13 Oct 2022

Fund Brief: CQS Natural Resources Growth & Income plc (CYN)

About CQS Natural Resources Growth & Income plc The Company invests predominantly in mining and resource equities and mining, resource and industrial fixed interest securities (including, but not limited to, preference shares, loan stocks and corporate bonds, which may be convertible and/or redeemable). To watch the Fund Manager Brief: Craig Cleland, CQS video, click here. […]

13 Oct 2022

Fund Manager Brief: Craig Cleland, CQS

Craig Cleland – Head of Corporate Development Craig Cleland is Head of Corporate Development – Investment Trusts at CQS. Craig joined CQS in September 2013 as Head of Corporate Development: Investment Trusts. In this role he is responsible for Sales, Investor Relations and Business Development for New City Investment Managers, as well as corporate relations […]

13 Oct 2022
Oakley Capital Investments OCI Wishcard

Oakley Capital sells majority of Wishcard holding

Oakley Capital Investments Limited (OCI) has announced that Oakley Capital Fund IV, in which it holds an investment, has agree to sell part of its stake in Wishcard Technologies Group, one of Europe’s fastest growing gifts and rewards platforms. After the sale, Fund IV will retain a residual shareholding in Wishcard. OCI’s look through share […]

13 Oct 2022
a coffee cup next to an alarm clock

QuotedData’s morning briefing 13 October 2022

In QuotedData’s morning briefing 13 October 2022: Riverstone Credit Opportunities Income (RCOI) has announced that it has reached an agreement to extend its EPIC Propane, a sponsor-backed infrastructure company that provides propane purity offtake transportation to the Gulf Coast export market. EPIC Propane is part of the broader EPIC Midstream system that includes over 1,695 […]

Sectors
12 Oct 2022

Harmony Energy Income C share raises £15m against “a very challenging market backdrop”

Harmony Energy Income (HEIT) has announced the results of its C share issue that was announced on 28 September 2022 (click here to see our coverage of this). HEIT has raised gross proceeds for the C share issue of around £15m, which will be used to fund the acquisition of projects in its pipeline (totaling […]

Sectors
12 Oct 2022

Target Healthcare REIT reports 8.1% NAV total return

Care home owner Target Healthcare REIT reported a 8.1% NAV total return for the year ended 30 June 2022. Result highlights include: EPRA NTA per share increased 1.7% to 112.3 pence (2021: 110.4 pence) Group specific adjusted EPRA earnings per share fell 7.5% to 5.05p (2021: 5.46p), mainly due to the time lag between a […]

Sectors
12 Oct 2022
a large bulk carrier sailing towards the bottom left of the picture

Taylor Maritime makes all cash offer for Grindrod Shipping

Further to its announcement on 30 August 2022 that it had made an indicative all cash offer of US$26 for each Grindrod Shipping Holdings Limited share that it didn’t already own (consisting of a cash purchase price of US$21.00 per share plus a special cash dividend from Grindrod of US$5.00 per share to its existing […]

Sectors
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