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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).

10 Aug 2022

QuotedData’s morning briefing 10 August 2022

In QuotedData’s morning briefing 10 August 2022: abrdn European Logistics Income (ASLI) has signed the purchase agreement for the acquisition of the recently completed warehouse extension at Waddinxveen, in the Netherlands, for a total net purchase price of €4.9m. ASLI exercised its right of refusal over this development located directly next to the existing warehouse […]

Companies
09 Aug 2022
a photograph

Baillie Gifford US back to square one

Baillie Gifford US Growth has published results for the 12 months ended 31 May 2022. Those of a nervous disposition should look away now – over the period, the share price and NAV returned -45.5% and -35.3% respectively, which compares with a total return of +12.2% for the S&P 500 Index. Effectively, this gives back […]

09 Aug 2022

Independent and Monks combine forces

The board of The Independent Investment Trust has agreed heads of terms with the board of Monks Investment Trust to combine the companies by way of a scheme of reconstruction under Section 110 of the Insolvency Act 1986 and a voluntary winding up of Independent. Independent shareholders will be able to elect either to receive […]

Sectors
09 Aug 2022

QuotedData’s morning briefing 9 August 2022

In QuotedData’s morning briefing 9 August 2022: BioPharma Credit (BPCR) has a US$132.5m investment in a senior secured loan to Global Blood Therapeutics. Yesterday Pfizer Inc. announced a definitive agreement to acquire Global Blood Therapeutics. The loan was invested in three different tranches with each tranche subject to different prepayment economics. Assuming the prepayment occurs […]

08 Aug 2022

SEED Innovations boosts investment in South West Brands

SEED Innovations boosts investment in South West Brands – SEED Innovations (SEED) has invested a further £50,000 in South West Brands Limited, a London-based company that builds and commercialises the “wellness and beauty brands of the future”. The investment is by way of a three year, 8% Convertible Loan Note as part of a funding round […]

08 Aug 2022

QuotedData’s morning briefing 8 August 2022

In QuotedData’s morning briefing 8 August 2022: Aberdeen New India (ANII) has entered into a new three year revolving credit facility of £30m with The Royal Bank of Scotland International, which replaces its £30m loan facility (also with RBSI), which matures on 5 August 2022. £30m of the facility has been drawn down and used […]

Sectors
Companies
05 Aug 2022

QuotedData’s weekly news show 5th August 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: • JLEN Environmental Assets • Fundsmith Emerging Equity This week’s interview was with Kamal Warraich of Canaccord Genuity Wealth Management – watch it again here.

Sectors
05 Aug 2022

Interview with Kamal Warraich of Canaccord Genuity Wealth Management

In this week’s show, James Carthew talked to Kamal Warraich of Canaccord Genuity Wealth Management. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us. Additionally, if you would prefer to […]

05 Aug 2022

QD view – The logistics paradox

The logistics sector is in a curious place right now. Comments from Amazon (the market leader in occupier take-up of logistics space over the last few years) about slowing the pace of its warehouse expansion have freaked the market. Meanwhile interest rate rises will almost certainly see investment yields erode as the cost of capital […]

Sectors
Companies
05 Aug 2022
home reit logo over a picture of a residential street

Home REIT expands with £85m acquisitions

Home REIT has acquired 199 properties for homeless accommodation for £85.1m, as it continues to deploy the proceeds of its £263m equity raise in May. The company has now deployed a total of £170m (66%) of the proceeds with this latest tranche, which adds a further 869 beds to its portfolio bringing the portfolio total […]

Sectors
05 Aug 2022

QuotedData’s morning briefing 5 August 2022

In QuotedData’s morning briefing 5 August 2022: Fidelity European (FEV) has announced its interim results for the six months ended 30 June 2022. During the period, FEV’s total return was -12.0%, which it says compares to a total return of -15.1% for the FTSE World Europe (ex UK) Index which is the Company’s Benchmark Index. […]

Geographies
  • Asia
  • Europe (EU and EEA ex UK)
  • UK
Sectors
Companies
04 Aug 2022
IVPB/IVPG/IVPM/IVPU:

Invesco Select results a mixed bag

Generally, Invesco Select Trust’s various asset class portfolios had a mixed financial year to end May 2022. The global equity income portfolio beat its benchmark, returning 9.6% in NAV terms relative to 7.4% for the MSCI World Index. However its share price return was 4.4%, reflecting a widening discount. The UK equity portfolio, which returned […]

Sectors
Companies
04 Aug 2022

Schroder British Opportunities tops up Cera investment

Schroder British Opportunities Trust has made an additional investment into Cera Care, Europe’s largest provider of digital-first home healthcare. Cera has raised $320m (~£260m) in equity and debt to expand from servicing 15,000 to 100,000 at-home patients each day. One very welcome effect of this should be to free up NHS beds and boost the […]

Sectors
04 Aug 2022
pantheon's logo against a view of the tops of skyscrapers from the ground

Pantheon will battle discount with buybacks

Pantheon International’s results for its financial year ended 31 May 2022 are very good. The NAV total return for the period was 31.0%, well ahead of the 7.8% return posted by the MSCI World Index. However, discount widening left shareholders with a return of 8.6%. The trust’s returns were boosted by weak sterling. However, even […]

04 Aug 2022
picture of Neil Hermon, manager of Henderson Smaller Companies

Henderson Smaller Companies suffers in growth selloff

Henderson Smaller Companies has published results for the 12 month period ending 31 May 2022. The trust underperformed its benchmark over the year, delivering an NAV total return of -17.8% against -9.5% for the Numis Smaller Companies Index (ex Investment Companies). A widening of the discount left shareholders with a return of -27.0%. On the […]

04 Aug 2022

QuotedData’s morning briefing 4 August 2022

In QuotedData’s morning briefing 4 August 2022: JLEN Environmental Assets says that its end June NAV was 123.1p, up 7.8p from 31 March. The drivers of this were higher fixed prices (+1.2p), higher seasonal forward pricing (+1.5p), and changes to long term forecasts from independent consultants (+5.8p). Our assumption would be that these uplifts reflect […]

03 Aug 2022

NextEnergy Solar secures subsidised UK solar contracts

NextEnergy Solar secures subsidised UK solar contracts – NextEnergy Solar (NESF) has secured additional subsidised solar contracts in the UK comprising contracts on 86MW of planned additional capacity through the fourth Contracts for Difference (CfD) Allocation Round (AR4) announced last month. The CfDs have been secured for 100% of the generating capacity of Whitecross (36MW) […]

03 Aug 2022

QuotedData’s morning briefing 3 August 2022

In QuotedData’s morning briefing 3 August 2022: European Assets (EAT) has posted its half-year results for the six months to 30 June 2022. During the period, its NAV fell by 31.4% while its share price fell by 31.8%. The chair said the trust has been hit by the aggressive market sell-off exacerbated by the war […]

Geographies
  • Europe (EU and EEA ex UK)
  • Global
  • Japan
Sectors
Companies
02 Aug 2022

Invesco Asia holds up well in falling market

Invesco Asia has published results for the 12 months ended 30 April 2022. The trust beat its benchmark in a falling market, returning -6.7% against -12.9% for the MSCI Asia ex Japan Index. The discount widened from 8.2% to 11.9% and, therefore, the return to shareholders was -10.0%. The fund has continued to outperform since […]

02 Aug 2022

QuotedData’s morning briefing 2 August 2022

In QuotedData’s morning briefing 2 August 2022: Ed Warner, OBE has been appointed chair of JLEN Environmental Assets with effect from 2 August 2022, succeeding Richard Morse who stepped down on 15 July 2022. Ed brings extensive financial services experience from his time spent in senior positions at several investment banks and financial institutions, including […]

01 Aug 2022

Foresight Sustainable Forestry acquires trio of afforestation projects and signs new RCF

Foresight Sustainable Forestry acquires trio of afforestation projects and signs new RCF – Foresight Sustainable Forestry (FSF) has acquired a further three afforestation sites in Scotland (deploying £3.8m, inclusive of tax and other transaction costs) and has also signed a £30m Revolving Credit Facility agreement. On 15 July 2022, FSF completed the acquisition of Droveroad […]

Sectors
01 Aug 2022

JLEN Environmental Assets bolsters battery storage exposure and makes first investment into land-based aquaculture

JLEN Environmental Assets bolsters battery storage exposure and makes first investment into land-based aquaculture – JLEN Environmental Assets (JLEN) has made two new acquisitions including a 50% equity stake in Clayfords Energy Storage and a minority equity investment in a controlled environment aquaculture project. Clayfords holds the development rights to construct a 50MW lithium-ion battery […]

01 Aug 2022

QuotedData’s morning briefing 1 August 2022

In QuotedData’s morning briefing 1 August 2022: Harmony Energy Income (HEIT) has completed the acquisition of the first pipeline project from Harmony Energy Limited: a 99 MW / 198 MWh energy storage project known as “Bumpers”. It has also executed contracts with Tesla for the supply, construction, maintenance and optimisation of the Bumpers project, with a […]

Geographies
  • Asia
  • Global
  • UK
Sectors
Companies
29 Jul 2022

QuotedData’s weekly news show 29th July 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 and Andrew McHattie covered the week’s top stories: • JPMorgan Russian • Seraphim Space • Ecofin US Renewables This week’s interview was with Stuart Widdowson from Odyssean Investment Trust – watch […]

Sectors
Companies
29 Jul 2022

QD view – more power to battery growth story

This week, Gore Street Energy Storage published its annual results, and I had a call with Alex O’Cinneide who is the investment adviser to the fund. 10x bigger in just two years We wrote about Gore Street Energy Storage back in June 2020. Back then, the share price was just over £1 and the market […]

29 Jul 2022

JPMorgan Russian hopes to shift focus to Emerging Europe, the Middle East and Africa

JPMorgan Russian (JRS) has announced its interim results for the six months ended 30 April 2022, which include proposals to amend its investment objective and policies to permit investments in Emerging Europe (including Russia), the Middle East and Africa. As a precursor to asking shareholders permission, the board is requesting authorisation from the FCA to […]

Sectors
29 Jul 2022
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 29 July 2022

In QuotedData’s morning briefing 29 July 2022: HICL Infrastructure (HICL) has announced that it has activated a £330m accordion option within its revolving credit facility (RCF), thereby increasing its overall short-term credit facilities to £730m. The £330m accordion is a one-year facility expiring on 28 July 2023 and is priced on the same terms as the […]

Sectors
28 Jul 2022

Aberforth Split Level knocked by gearing

Aberforth Split Level Income Trust has published results covering the 12 months ended 30 June 2022. Over that period, the Numis Smaller Companies Index (excluding Investment Companies) generated a total return of -17.2%. The trust’s total assets total return, which measures its ungeared portfolio performance, was -14.9% during the year. However, when geared by the […]

28 Jul 2022

Oakley gets uplift from Seedtag sale

Oakley Capital Investments says that Oakley Capital Origin Fund has reached an agreement to sell part of its stake in Seedtag to private equity investor Advent International. The trust’s look-through share of proceeds is expected to be about £13m, adding about 4p to the end June NAV. Founded by Jorge Poyatos and Albert Nieto in […]

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