News

In QuotedData’s morning briefing 28 October 2022: GCP Infrastructure (GCP) has announced that Alex Yew has been appointed as a director with effect from 1 November 2022. This follows Ian Reeves’ notification that he will retire from the board on 31 October 2022. Alex, a United Kingdom resident, is a qualified solicitor in Singapore and […]

JPMorgan Global Emerging Markets Income has published its results for the year ended 31st July 2022. The company beat its benchmar, with an NAV return of -4.7% against -8.7% for the MSCI Emerging Markets Index, but a widening discount left investors with a return of -9.4%. The dividend was upped from 5.1p to 5.2p and […]

JPMorgan Russian hopes to expand its remit, morphing into JPMorgan Emerging Europe, Middle East & Africa Securities Plc [which is a bit of a mouthful]. Shareholders would need to approve the proposal and there is a meeting planned for 23 November 2022 to do that. As at 30 September 2022, the portfolio was valued at […]

The boards of JPMorgan Elect and JPMorgan Global Growth and Income have signed Heads of Terms in respect of a proposed merger of the two companies. The merger will be effected by way of a scheme of reconstruction of Elect. It is expected that the combination will be completed by the end of the current calendar […]

In QuotedData’s morning briefing 27 October 2022: Taylor Maritime Investments (TMI) is reporting a fall in its NAV which at 30 September 2022 was $1.70, a decrease of about 5% since 30 June 2022. The market value of the vessel portfolio at the quarter end was $447m, down about 15% on a like-for-like basis over […]

In QuotedData’s morning briefing 26 October 2022: Oakley Capital Investments (OCI) generated a 4% return on NAV over the quarter ended 30 September 2022 as its underlying portfolio of tech-enabled companies continued to deliver earnings growth. New investments of £46m included the acquisition of vLex, an additional investment in Grupo Primavera, and supporting TechInsights’ acquisition […]

VinaCapital Vietnam Opportunity Fund reports that, for the 12 months ended 30 June 2022, its NAV total return in US dollar terms was -8.8%. The shares fell by 12.8% in US dollar terms as the discount widened from 17.7% to 19.8%, but the dividend was increased from 11.5 cents to 16 cents per share. The […]

In QuotedData’s morning briefing 25 October 2022: VH Global Sustainable Energy Opportunities (GSEO) has completed its purchase of three fully-permitted solar PV sites in Australia. The total cost including construction will be £21.2m and is part of the existing £50m commitment to its Australian solar PV and storage investment programme. Triple Point Energy Transition (TENT)  […]

Syncona (SYNC) has announced a tender offer to acquire all outstanding shares of Applied Genetic Technologies Corporation (AGTC), for $0.34 per share, valuing AGTC at approximately $23.5m (£20.8m). There is also the potential for up to an additional $50.0m (up to $0.73 per share) in contingent value rights in the event certain milestones related to […]

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 […]

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, […]

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 […]

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 […]

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 […]

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 […]

Grit Real Estate Income Group, the pan-African real estate investor and developer, has secured new $306m borrowing facilities, as it streamlines its debt structure. The sustainability-linked term loan and revolving credit facility (which is the largest real estate sector transaction to date in Sub-Saharan Africa, excluding South Africa) consolidates seven existing loans into a single facility.  […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

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 […]