European Opportunities Trust (EOT) announced the results of its tender offer to purchase up to 25% of the company’s ordinary shares in issue (you can read about the original announcement here). The offer was taken up in full and, after taking account of roundings, the company will purchase a total of 24,074,030 shares at the […]
In QuotedData’s morning briefing 31 January 2024: Henderson Smaller Companies Investment Trust (HSL) announced its results for the half year ended 30 November 2023. NAV total return fell by 7.7% during the six month period, while the benchmark Numis Smaller Companies ex-Investment Companies Index was almost flat, and the AIC UK Smaller Companies sector average […]
In QuotedData’s morning briefing 30 January 2024: Greencoat UK Wind (UKW) announced the appointment of Abigail Rotheroe as a non-executive director of the company. Her appointment will be effective from 1 March 2024. Abigail is a CFA Charterholder and brings over 20 years’ experience in the investment industry. She is the former investment director of […]
Grit Real Estate Income Group, the pan-African real estate company, has subscribed to its share of a $100m capital call from its development subsidiary GREA (Gateway Real Estate Africa), which will use the funds to construct US Embassy-let diplomatic housing and other real estate. To fund the $51.5m capital call, the company sold its interest […]
GCP Asset Backed Income has published more information on its portfolio and its strategic review. In addition, an updated portfolio report is now on the company’s website at https://www.graviscapital.com/funds/gabi-strategic-review/literature. Portfolio repayment profile As at 31 December 2023, the company was invested in a portfolio of 42 asset backed loans with a weighted average loan duration […]
Chrysalis Investments (CHRY) has released a quarterly update to end December 2023 and its annual results for the year ending 30 September 2023. This is the last set of annual results released by the CHRY team under its tenure at Jupiter, as the investment team has previously announced that it will launch its own independent […]
The board of Digital 9 Infrastructure (DGI9) has announced that following the conclusion of its strategic review, announced in November 2023, it has decided to propose a managed wind-down. The decision was made in consultation with DGI9’s financial advisers, as well as taking into account feedback received from a large number of shareholders and institutional […]
In QuotedData’s morning briefing 29 January 2024: Literacy Capital (BOOK) has provided a quarterly trading update and NAV announcement for the fourth quarter of 2023. Over the period BOOK saw a NAV uplift of $4.6m, or 7.7p per share, equal to a quarterly return of 1.6%. Its total NAV for the end of 2023 was […]
Marble Point Loan Financing (MPLF) is convening EGMs (for both its liquidating share class and ordinary share class) following the receipt of a requisition notice from Freestone Advantage Partners III LP to consider proposals for amending MPLS’s articles of incorporation to allow for a liquidating share opportunity every year (rather than every other financial year […]
As we covered on our Wednesday news post, this week saw JPMorgan Multi Asset Growth & Income (MATE) announce its merger with JPMorgan Global Growth & Income (JGGI). For fans of investment companies, this story may seem familiar as JGGI has already swallowed up the Scottish Investment Trust and JPMorgan Elect. MATE’s board outlined several […]
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: • Asia Energy Impact (0:47) • JPMorgan Multi-Asset (5:10) • abrdn Private Equity Opportunities (8:26) This week’s interview was with Nick Montgomery and Bradley Biggins […]
Smithson (SSON) has published its manager’s review for the year ended 31 December 2023, during which its net asset value per share (NAV) increased by 13.3% and its share price increased by 8.2%. In comparison, the MSCI World Small and Mid-Cap Index (‘SMID’), SSON’s reference index, increased by 9.1% during the same period. 2023 saw […]
The sale of a €34.6m stake in European supermarket group Action has freed up funds that abrdn Private Equity Opportunities now intends to use to fund a share buyback. [The trust’s discount is – in our view – ridiculously and unjustifiably wide. Currently it trades on a 38.4% discount to an NAV that is likely […]
Bluefield Solar has progressed the deal with GLIL Infrastructure that was announced late last year. It has invested £20m in the joint venture partnership that is acquiring the Lightsource bp portfolio of solar assets. The 58 operating site Lightsource bp portfolio is comprised of: 184MW backed by Feed in Tariff (FiT) subsidies, 15MW by Renewable […]
Market conditions in Japan continue to suit CC Japan Income and Growth which has just reported an NAV return of 18.9% for the year ended 31 October 2023, well ahead of the 12.0% return reported on TOPIX, the benchmark. Shareholders got a return of 20.9% as the discount narrowed. Returns would have been higher but […]
In QuotedData’s morning briefing 25 January 2024: Invesco Asia (IAT) says that from 1 May 2024, its two co-portfolio managers will swap roles, with Fiona Yang taking the lead from Ian Hargreaves, but will both continue to work very closely together on the portfolio. The directors say that they have been impressed by Fiona’s contribution […]
The Chrysalis share price has been rising in recent days on the back of hope that Klarna, one of its largest investments, was considering an IPO. The CEO Sebastian Siemiatkowski was interviewed recently by Bloomberg and talked about his thoughts on an IPO of the company. The valuation of Klarna was written up and then […]
JPMorgan Multi-Asset Growth & Income (MATE) and JPMorgan Global Growth & Income (JGGI) have announced that the two companies have agreed heads of terms in respect of a proposed rollover of assets from MATE to JGGI. MATE shareholders will receive new shares in JGGI which will provide them with exposure to a diversified portfolio of […]
JPMorgan Emerging Europe, Middle East and Africa Securities (JEMA), formerly JPMorgan Russian Securities, announced its annual results for the period ended 31 October 2023. The company’s performance over the 12 month period was flat, however the managers point out that in the eight months from 1st March 2023 to 31st October 2023, the company’s net […]
Troy Income & Growth (TIGT) announced its annual results for the year ended 30 September 2023. The company delivered a NAV per share total return of +6.6% and a share price total return of +6.3% over the year to 30 September 2023. Over the same period, the FTSE All-Share Index produced a total return of […]
In QuotedData’s morning briefing 24 January 2024: Home REIT (HOME) has sold a further 103 properties at auction for £6.6m as the manager attempts to stabilise the portfolio. The sales price was 8.4% below the August 2023 valuation [there was no mention on the discount to acquisition cost (as has been the case in previous […]
Asian Energy Impact Trust (AEIT) formerly ThomasLloyd Energy Impact Trust has announced both its audited results for the 12 months ended December 31 2022, and the six months ended 30 June 2023. The earlier results were delayed due to a drawn out dispute and then valuation uncertainty surrounding its investment in SolarArise Rewa and the […]
As a result of the failed continuation vote of Hipgnosis Songs Fund (SONG), where 83% of shareholder votes were cast against the resolution, the newly constituted board is continuing its strategic review looking at all options to be considered for the future of the company, with the aim of maximising value for shareholders. As announced […]
Downing Renewables & Infrastructure (DORE) announced that it has acquired its first Icelandic asset, a 1.1MW hydropower plant, located in south-central Iceland with an annual average production of c. 8 GWh. The total investment was c. £5m (EUR 6m). The run-of-river plant has been operational since 2018 and derives its water from both natural springs […]
In QuotedData’s morning briefing 23 January 2024: Baillie Gifford US Growth Trust (USA) announced an update for the six months to November 30, 2023. The company’s share price and NAV returned 12.3% and 4.1% respectively. This compares with a total return of 7.9% for the benchmark US index. Since launch on 23 March 2018, to […]
RTW Biotech Opportunities (RTW) has provided an update on Arix and its capital allocation plan. RTW has now completed the previously announced $57.1m acquisition of a 25.5% stake in Arix. RTW intends to utilise its stake to vote in favour of the “Arix scheme” at Arix’s forthcoming AGM. RTW intends to leverage its position in […]
In QuotedData’s morning briefing 22 January 2024: HgCapital Trust (HGT) has announced that it has sold its entire stake in Argus Media, a leading independent provider of intelligence to the global energy and commodity markets. HGT will sell its shareholding to Argus’s current CEO Adrian Binks, and General Atlantic, a major minority shareholder. The transaction […]
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: • Bankers (0:29) • Hipgnosis Songs (7:08) • API/CREI merger (8:52) This week’s interview was with Purvi Sapre from SDCL Energy Efficiency Income Trust – […]
The start of a new year often brings optimism and that was certainly the case in the real estate sector as inflation around the world continued its downward trajectory, raising the prospect of interest rate cuts this year. That optimism, which had seen share prices among the UK listed property companies jump 15.5% over the […]
Five years from now, Moderna could be synonymous with personalised cancer vaccines, not Covid-19. Chief executive Stéphane Bancel talks with Scottish Mortgage Manager Tom Slater about what can be achieved through programmable drug development. “There are huge areas of unmet clinical need that cause untold human suffering, that [Moderna’s] technology will be able to address.” […]
