In QuotedData’s morning briefing 17 August 2022: Riverstone Energy (RSE) has posted its interim results for the six months to 30 June 2022. During this time, the trust’s NAV increased by 22% in sterling terms and 10% in US dollar terms while its cash balance finished the period at $72m and remaining potential unfunded commitments […]
SDCL Energy Efficiency Income has signed an agreement to provide a convertible loan of up to $10m in On.Energy Storage LLC, a battery energy storage system (BESS) and microgrids solutions provider, headquartered in the US. The trust has also provided a conditional commitment to fund up to $100m in qualifying commercial & industrial energy storage […]
In QuotedData’s morning briefing on 16 August 2022: LondonMetric Property (LMP) sold four assets, in two separate transactions, for £25.6m, reflecting a blended net initial yield (NIY) of 5.3%. In the first transaction, the company sold a portfolio of three multi-let industrial assets totalling 53 units across 235,000 sq ft, located in Halesowen and Aston, […]
Bluefield Solar says that it has successfully secured additional solar contracts in the UK on 62.4MW of planned additional capacity through the UK government’s fourth Contracts for Difference (CfD) Allocation Round (‘AR4′) announced last month. AR4 was the first subsidy allocation round since AR1 in 2015 in which solar has been able to participate, with […]
Foresight Sustainable Forestry hits IPO allocation target nine months after launch – Foresight Sustainable Forestry (FSF) has announced the acquisition of three afforestation sites near Huntly, Scotland, for £3.4m (inclusive of tax and other transaction costs). The three properties, Ness Bogie (128.6 hectares), Ream’s Hill (37.6 hectares), and Brown Hill (30.8 hectares), are all located […]
In QuotedData’s morning briefing 15 August 2022: Seraphim Space (SSIT) holding D-Orbit, a market leader in space logistics and orbital transportation services, and Breeze Holdings have mutually agreed to terminate their previously announced merger agreement effective immediately. Both companies have agreed that financial markets have changed substantially since the proposed transaction was originally agreed upon […]
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: • Independent/Monks • BioPharmaCredit • Trian Investors 1 This week’s interview was with David Smith of Henderson High Income – watch it again here.
Earlier this week the board of the Independent Investment Trust (IIT) announced plans to merge the company with Baillie Gifford’s Monks Investment Trust (MNKS). IIT’s shareholders can opt for a full cash realisation or choose to have their money rolled over into Monks (so would not be subject to capital gains tax), which follows similar […]
What do the zip, the monkey wrench and Tetra Pak packaging have in common? They were innovations commercialised in Sweden. Investment manager Stephen Paice shares why he likes Swedish companies. The value of an investment, and any income from it, can fall as well as rise and investors may not get back the amount invested. […]
Octopus Renewables Infrastructure Trust has agreed to buy a 51% ownership interest in the Crossdykes Onshore Wind Farm. The remaining 49% is being acquired by another Octopus managed fund. Crossdykes, located in southern Scotland, was developed by Muirhall Energy and has been operational since June 2021. It is amongst the largest unsubsidised wind farms in […]
HydrogenOne Capital Growth is making an investment of £8.4m (EUR 10m) in Strohm Holding B.V. HydrogenOne is investing alongside Strohm’s existing investors Shell Ventures, Chevron Technology Ventures and Evonik Venture Capital, in the first close of a funding round totalling £11.8m (EUR 14m). HydrogenOne may also invest up to a further £1.7m (EUR 2m) in […]
In QuotedData’s morning briefing 12 August 2022: abrdn Private Equity Opportunities (APEO) says that its estimated NAV at 31 July 2022 was 710.4p, down from 727.3p at the end of June, largely driven by a weaker euro and a dividend payment. Excluding new investments, 98.2% by value of portfolio was valued as at 31 March […]
In QuotedData’s morning briefing 11 August 2022: Princess Private Equity (PEY) notes that Kohlberg & Company is acquiring a 50% stake in United States Infrastructure Corporation, the leading North American provider of utility location services. Clients of Partners Group including Princess will retain a 50% co-lead interest. The transaction values Princess’ stake at approximately $34.4m versus […]
CT Global Managed Portfolio underperforms benchmark during tough year – CT Global Managed Portfolio has posted its annual report covering the 12 months to 31 May 2022. During the period, Columbia Threadneedle Investments acquired BMO’s EMEA asset management business, which included the company’s manager, BMO Investment Business Limited. Consequently, a change of name for the […]
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 […]
Diverse Income’s results for the financial year ended 31 May 2022 show it delivering a return on NAV of -3.4%, some way behind the +4.7% return generated by the Numis All-Share Index. A widening discount left shareholders with a return of -10.5%. The board views the recent widening as temporary but remains willing to use […]
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 […]
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 […]
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 […]
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 […]
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 […]
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.
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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