Student accommodation specialist Unite Group reported record earnings in results for the year to 31 December 2023, as the supply and demand dynamics in the real estate sub-sector continues to benefit the company. The company posted an 8% uplift in adjusted earnings per share to 44.3p (2022: 40.9p). This was influenced by practically full occupancy […]
Law Debenture (LWDB) has published its annual results for the year ended 31 December 2023 during which it provided an NAV total return with debt and the Independent Professional Services (IPS) business at fair value of 9.4% (8.9% with debt at par), which LWDB says outperformed its All-Share Index that returned 7.9%. LWDB’s share price […]
In QuotedData’s morning briefing 27 February 2024: Alternative Income REIT (AIRE) reported a 3% fall in net asset value (NAV) to 81.62p per share in the six months to 31 December 2023, following a 3.5% drop in the value of its portfolio to £103.3m. Adjusted earnings per share for the period were down 11.6% to […]
We at QuotedData express our condolences to the family, friends and colleagues of Lord Jacob Rothschild, whose passing has just been announced by his family. The family has said “Our father Jacob was a towering presence in many people’s lives, a superbly accomplished financier, a champion of the arts and culture, a devoted public servant, […]
In QuotedData’s morning briefing 26 February 2024: Hipgnosis Songs Fund (SONG) has confirmed that following its previous announcement on 19 February, Mr Mercuriadis and the Investment Adviser have refused to indemnify the trust against liabilities which may arise from his alleged misconduct. SONG now intends to bring a Part 20 Claim in the High Court […]
In Alliance Trust’s new series of stock spotlight videos, Veritas’ Andy Headly focuses on Airbus and talks about the qualities that make it so attractive compared to its closest competitor. Filmed in December 2023.
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, Richard Williams covered the week’s top stories: • Hipgnosis Songs • JPMorgan Global Growth and Income • Urban Logistics / abrdn Property Income This week’s interview was with Gurpreet Gujral from Atrato Onsite Energy […]
Consolidation is in vogue in the investment trust space right now and nowhere is this more prominent than in the real estate sector, where it seems not a week goes by when another merger bid is made. This week’s latest proposal saw Urban Logistics REIT (SHED) table a surprise offer for abrdn Property Income Trust […]
In QuotedData’s morning briefing 23 February 2023: Riverstone Energy (RSE) has announced a tender offer for up to 15,047,619 of its ordinary shares, representing 35.66% of the existing shares in issue, to be purchased at a price of £10.50 per share. This price represents a premium of c.14% to the closing market price of £9.20 […]
Herald Investment Trust (HRI) has released its annual results for the 12 month period ending 31 December 2023. Over the year HRI generated a NAV total return of 5.7%, compared to the 3.2% Numis Smaller Companies plus AIM (ex. investment companies) Index and the 21.0% Russell 2000® Technology Index (in sterling terms). A major factor […]
Pantheon International (PIN) has released its half year report, for the six months ending 30 November 2023. PIN’s NAV increased by 3.1% over the 6 months, driven by valuation gains in the portfolio, however it was negatively impacted by adverse currency movements. The largest driver of returns came from PIN’s investment in fund secondaries. The […]
In QuotedData’s morning briefing 22 February 2024: Both abrdn Property Income Trust (API) and Custodian Property Income REIT (CREI) have adjourned their shareholder meetings to vote on the merger offer from CREI due to this week’s indicative offer for API by Urban Logistics REIT (SHED). API’s board said that it was assessing the possible offer […]
Riverstone Credit Opportunities (RCOI) reported its results for the 12 months ending 31 December 2023. Over the 12 months RCOI reported a NAV total return of 6.4%, having returned 40.1% since its inception. Revenue generation was “strong” over the year, with a reported profit of $5.7m, and a proposed total dividend of 8.5 cents per […]
Rights & Issues Investment Trust (RIII) released its annual results for the 12 month period ending 31 December 2023. Over the year RIII generated a NAV total return of 2.4%, compared to the 3.8% of its benchmark, the FTSE All-Share Index. However, thanks to a material reduction in RIII’s discount, it generated a much higher […]
In QuotedData’s morning briefing for 2 February 2024: JPMorgan Global Growth & Income (JGGI) has announced the completion of its placing and WRAP retail offer, which raised gross proceeds of £34.5m. The WRAP retail offer was materially oversubscribed, with orders received exceeding the €8m limit and being subject to scale back. JGGI will issue 6.5m […]
Urban Logistics REIT (SHED) has approached the board of abrdn Property Income Trust (API) regarding an indicative share-for-share offer for the company. The indicative offer exchange ratio is 0.469 SHED shares for each API share (and was reached on the basis that both companies will pay existing shareholders dividends due for the final quarter of […]
In QuotedData’s morning briefing for 20 February 2024 NB Global Monthly Income Fund (NBMI) has announced that it intends to distribute to shareholders an aggregate amount of approximately £23m by way of a partial compulsory redemption of shares on 4 March 2024. The redemption will amount to c. 69% of existing shares of shareholders on […]
The board of Hipgnosis Songs Fund (SONG) has announced today that its investment adviser (founded by Mr Mercuriadis and where he is a director), has refused to indemnify SONG against liabilities which may arise from Mr Mercuriadis’ alleged misconduct. SONG had previously been assured by Mr Mercuriadis and the investment adviser that the legal claims […]
abrdn European Logistics Income (ASLI) has said that it has received a number of proposals to acquire the company, after putting itself up for sale in November 2023. A broad range of preliminary, indicative non-binding proposals have been made to the company, it said. The company added that “there can be no certainty at this […]
In QuotedData’s morning briefing on 19 February 2024: Unite Students (UTG) has entered into a joint venture framework agreement with Newcastle University for the development of 2,000 new student beds. The scheme will replace an existing student accommodation building at the university’s Castle Leazes site in Newcastle. The Castle Leazes site currently provides 1,250 beds […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Brunner (0:38) • Tritax Big Box REIT & UK Commercial Property (9:19) This week’s interview was with Richard Hulf from HydrogenOne Capital – watch it again […]
Jonathan Mills from Metropolis Capital talks about his conviction in the equipment rental firm, Ashtead, which supplies a wide range of plant and commercial equipment to companies in the UK, US and Canada. Filmed in December 2023.
With inflation rates much reduced, investors became convinced in October that interest rates had peaked. Share prices in the renewables and infrastructure sectors began to rise while yields began to fall and there was a sense that as we entered 2024 we had passed the worst of the sell-off in those sectors. However, as the […]
Polar capital Global Financials Trust says that its NAV total return for the year ended 30 November 2023 was -2.8%. This compares to a return on the MSCI ACWI Financials Index of +0.3%. Unfortunately, investors were hit by a widening of the trust’s discount to 12%, leaving them with a return of -7.5%. The discount […]
SEGRO reported rental growth across its portfolio of 6.5% during 2023, as occupier demand for logistics space remained strong. Net rental income grew 12.5% to £587m, including new developments and the rental growth within its existing portfolio. This was achieved in the backdrop of falling property values in the high interest rate environment. The group’s […]
In QuotedData’s morning briefing 16 February 2024: CT UK High Income Trust has decided to cancel the listing of its units (CHIU). Until now, investors had been able to hold and trade in units in the fund that were comprised of three ordinary shares and 1 B share. Now, the units are being discontinued and […]
Bluefield Solar’s NAV slipped slightly over the final quarter of 2023, from 136.4p to 136.0p. Higher opeartional costs offset the benefit of recognising the company’s Renewable Energy Guarantees of Origin certificates (REGOs) and slightly higher long term forecast power prices. The board has reiterated its target dividend for the full year of not less than […]
Scottish American has published results for the 12 months ended 31 December 2023. Its NAV returns did not match those of its benchmark (the All-World Index), returning 11.8% to the index’s 15.7%, and a widening discount left shareholders with a return of 8.2%. Although the chairman points out that discounts have widened across the invetsment […]
In QuotedData’s morning briefing 15 February 2024 Invesco Select (IVPG / IVPE / IVPM / IVPB) has published a circular in connection with its plan to merge its share classes into the global equity income pool. Nothing seems to have changed from the original proposal. Holders of the managed liquidity and balanced risk classes can […]
Brunner Investment Trust (BUT) released its annual results for the period ended 30 November 2023. The company’s NAV total return was 8.7%, versus 5.5% for the composite benchmark (70% FTSE World Ex. UK / 30% FTSE All-Share). This marks the 5th consecutive year of outperformance of the benchmark by the trust. Despite the outperformance, the […]
