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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).

28 Jul 2022

Seraphim Space updates on plans for remaining cash

During the quarter ended 30 June 2022, Seraphim Space invested £5.3m in three new unlisted investments, and also made two follow-on investments totalling £2.4m. As at 30 June 2022, the company had cash of £57.7m. Given the big swing in sentiment against growth stocks and the present unlikelihood of Seraphim raising more money, the manager […]

Sectors
28 Jul 2022

QuotedData’s morning briefing 28 July 2022

In QuotedData’s morning briefing 28 July 2022: Ecofin US Renewables (RNEW) says that its end June NAV was 97.32 cents, down slightly from the figure of 97.64 cents at end March. The main infuences on the NAV over the quarter were an inflation/interest related increase in discount rates used to value the portfolio (-$3.5m) offset […]

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

QuotedData’s morning briefing 27 July 2022

In QuotedData’s morning briefing 27 July 2022: Aberforth Smaller Companies (ASL) has posted its half-year results for the six months to 30 June 2022. During the period, its NAV fell by 16.8% while its share price fell by 18.4%. However, this remains ahead of its benchmark, the Numis Smaller Companies Index (excluding investment companies) which […]

26 Jul 2022
large scale batteries lined up with a field in the distance

A year of significant growth for Gore Street

Gore Street Energy Storage has published results for the year ended 31 March 2022. Over that period, the fund more than doubled in size (and the recent £150m fundraise makes it larger still) and the NAV total return was 13%. The return to shareholders was 11%. Dividends totalling 7.0p per share were declared in line […]

26 Jul 2022
a logo for MIGO Opportunities Trust

Private equity, energy and Vietnam boost MIGO Opportunities

MIGO Opportunities has published results for the 12 months ended 30 April 2022. Over that period, the NAV return was 4.7%, the share price return 2.7% and the return on the benchmark – the return on cash, as measured by SONIA, plus 2% – was 2.2%. The chairman says that the principal drivers of performance […]

Sectors
26 Jul 2022

QuotedData’s morning briefing 26 July 2022

In QuotedData’s morning briefing 26 July 2022: The Allianz technology team has moved en masse across to Voya Financial and it is now the investment adviser to Allianz Technology (ATT). The board is confident that there will be minimal impact on the management of the portfolio, It is anticipated that there will be no change […]

25 Jul 2022

SVM UK Emerging hit by ‘painful period for growth investors’

SVM UK Emerging hit by ‘painful period for growth investors’ – SVM UK Emerging (SVM) has posted its annual results for the year to 31 March 2022. During the period, its net asset value fell 10.0% to 112.51p per share, compared to a return of 5.4% in its comparator index, the IA UK All Companies […]

25 Jul 2022
F&C Investments FCIT

QuotedData’s morning briefing 25 July 2022

In QuotedData’s morning briefing 25 July 2022: Aquila Energy Efficiency (AEET) has committed a further £8.3m of which £3.9m has been deployed in a project including a cluster of 32 energy efficiency projects for small residential buildings and condominiums qualifying for the Italian Superbonus incentive scheme. It has also committed to three transactions in Spain, […]

Sectors
Companies
22 Jul 2022

QuotedData’s weekly news show 22nd 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 covered the week’s top stories: • Polar Capital Technology • Henderson Diversified Income This week’s interview was with Philip Kent of GCP Infrastructure Investments Ltd  – watch it again here.

Sectors
22 Jul 2022

QD view – Is the tide finally turning for biotech?

In early 2021, it looked like the pandemic had been a breakthrough moment for the biotechnology sector. The sector had been critical in the development of Covid-19 vaccines, using new and innovation gene sequencing, while developments in oncology promised a treatment revolution. Share prices were riding high and specialist investment trusts had enjoyed two years […]

Sectors
Companies
21 Jul 2022

Baker Steel Resources sells Bilboes Gold

Baker Steel Resources Trust says that it and the other shareholders of Bilboes Gold have signed an agreement to sell Bilboes to Caledonia Mining Corporation for a total consideration of 5,123,044 Caledonia shares and a 1% net smelter royalty on Bilboes’s gold project. Completion of the transaction is subject to a number of conditions precedent […]

Sectors
21 Jul 2022

QuotedData’s morning briefing 21 July 2022

In QuotedData’s morning briefing 21 July 2022: NB Global Monthly Income (NBMI) is increasing its target distribution rate to 6.75% of NAV per year for the rest of 2022. The increase reflects the positive effect of rising interest rates (especially higher US rates – US loans account for about 80% of the fund) on the […]

Companies
20 Jul 2022

Polar Capital Technology dragged down by tech retrenchment after last year’s outperformance

Polar Capital Technology dragged down by tech retrenchment after last year’s outperformance – Polar Capital Technology (PCT) has posted its final results for the year to 30 April 2022. Over the year, its NAV fell by 7.7% and the share price fell by 13.7% as the discount widened, both behind the index which fell by […]

20 Jul 2022

QuotedData’s morning briefing 20 July 2022

In QuotedData’s morning briefing 20 July 2022: The Renewables Infrastructure Group (TRIG) has exchanged contracts to acquire a further 2.4% equity interest in the Hornsea One offshore wind farm from Global Infrastructure Partners (from whom the company announced the acquisition of its original stake in March 2022). Upon completion of this incremental investment, TRIG will […]

Sectors
19 Jul 2022

Nippon Active Value takes on Intage Holdings

Rising Sun Management, investment advisor to Nippon Active Value Fund, has sent a letter to the management of Intage Holdings (a Japanese marketing research firm), to notify it of several proposals that will be made at Intage’s forthcoming Annual General Meeting. A friendly management buyout (MBO) proposed in February 2022 has been rejected by Intage. […]

19 Jul 2022
MINI fails to keep up with AIM index

Miton UK Microcap hit as investors favour large caps

Miton UK Microcap Trust has announced its annual results for the year ended 30 April 2022. Over this period, the NAV fell from 104.83p to 91.05p, a negative total return including dividends reinvested of 13.1%. The share price fell from 104.50p to 86.50p, a negative return of 17.2%. The net revenue return was positive (£159,000 or […]

19 Jul 2022
a green coffee cup sitting on a book

QuotedData’s morning briefing 19 July 2022

In QuotedData’s morning briefing 19 July 2022: In GCP Asset Backed Income’s (GABI) latest NAV (as at 30 June 2022), the co-living group loan (discussed on our weekly show on 8 July) has been revalued, taking 1.21p off the NAV. The directors took advice from the company’s valuation agent and investment manager, considered a range […]

Companies
18 Jul 2022

Henderson Diversified Income hit by ‘fundamental change in perception of inflation’

Henderson Diversified Income hit by ‘fundamental change in perception of inflation’ – Henderson Diversified Income (HDIV) has posted its annual results for the year to 30 April 2022, during which time its NAV total return was down by 9%, reflecting a fundamental change in the perception of inflation risk by the market. The share price total […]

Sectors
18 Jul 2022

Ruffer delivers positive returns during tough year as Baillie steps down

Ruffer delivers positive returns during tough year as Baillie steps down – Ruffer (RICA) has posted its annual review for the year ended 30 June 2022, during which time its share price total return was 5.6% and the NAV total return was 5.9%. The team recently announced the departure of its long-service manager Hamish Baillie […]

Sectors
18 Jul 2022

Jupiter Green suffers from scaled back ambitions of US climate policy

Jupiter Green suffers from scaled back ambitions of US climate policy – Jupiter Green (JGC) has posted its annual results for the year to 31 March 2022, during which time its NAV was down 3.3% while its share price was down 20.5%. This compares with a 2.6% return from its benchmark index, the MSCI World […]

Sectors
18 Jul 2022
HICL Infrastructure HICL

HICL Infrastructure to buy interest in passive mobile tower owner in New Zealand

HICL Infrastructure to buy interest in passive mobile tower owner in New Zealand – HICL Infrastructure (HICL) has exchanged contracts to acquire a 40% equity interest in Aotearoa Towers, a passive mobile tower infrastructure owner, from Vodafone New Zealand. Following completion of the transaction, TowerCo will represent approximately 7% of HICL’s portfolio by value, and is […]

Sectors
18 Jul 2022
No dramas for aircraft leasing funds

QuotedData’s morning briefing 18 July 2022

In QuotedData’s morning briefing 18 July 2022: Doric Nimrod Air One (DNA) has confirmed it will sell one of its assets, an Airbus A380-861 aircraft, which is currently leased in a 12 year agreement to Dubai airline, Emirates, to the company at its lease end date of 16 December 2022. The sale proceeds to be […]

Sectors
Companies
15 Jul 2022

QuotedData’s weekly news show 15th 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, Matthew Read covered the week’s top stories: • Ruffer – Hamish Baillie stepping down • Roundhill Music Royalty • Hipgnosis Songs Fund • Taylor Maritime inaugural results • Chysalis and wefox • […]

Sectors
Companies
15 Jul 2022

Future impact

What does the next decade have in store for impact investing? Kate Fox and Lee Qian, joint managers of Keystone Positive Change Investment Trust, tell Iona Bain about four big areas that could solve some of the world’s toughest challenges The value of an investment, and any income from it, can fall as well as […]

15 Jul 2022

QD view – (half) year in review

Our review of the investment companies sector for the second quarter of 2022 went live this morning (you can read it here) and apart from a few turnarounds in performance for some sectors with specific reasons, it was very much a continued story from the first quarter (check out our 2022 Q1 review here). However, […]

15 Jul 2022

BB Biotech shares rise as sector sees signs of recovery

BB Biotech shares closed yesterday at CHF 57 per share, down 26.5% in the year-to-date period, but crucially up by 12% since mid-June when the shares hit a recent nadir of CHF51 per share. NAV, at CHF49.95 per share, is down by 9.95% year-to-date (YTD), but has gained 22% from its recent nadir of CHF40.9 […]

Sectors
15 Jul 2022

QuotedData’s morning briefing 15 July 2022

In QuotedData’s morning briefing 15 July 2022: HICL Infrastructure’s (HICL’s) fundraising, announced on 8 July 2022, has raised £160m. HICL says that there has been strong support for the issue from both existing and new investors, including over £5m of demand from the retail offer through PrimaryBid, and a scaling back exercise has taken place […]

Sectors
14 Jul 2022

Hipgnosis Songs NAV growth driven by valuation uplift

Separate to its announcement of the new global administration agreements (click here to read more on this), Hipgnosis Songs Fund (SONG) has also announced its final results for the year ended 31 March 2022. The operative NAV has increased by 9.9%, which SONG says was driven by a 9.5% like-for-like value uplift across the Portfolio […]

14 Jul 2022

Schroder British Opportunities held back by listed holdings

Schroder British Opportunities (SBO) has published its report and accounts for the nine-months ended 31 March 2022 (SBO has shortened this accounting period to nine months to better align its reporting with periodic valuations of underlying private equity investments going forward) and, during the period, SBO’s NAV produced a return of -4.0%. SBO’s chairman, Neil […]

Sectors
14 Jul 2022

Taylor Maritime publishes breath taking inaugural results

Taylor Maritime Investments (TMI) has published its first set of full year results for the period to 31 March 2022, which shows NAV and share price total returns of 81.3% and 45.5% respectively (around two-thirds of its profit before tax came from fair value gains on its portfolio). The results include the following key highlights: […]

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