Odyssean outperforms during tough year while board highlights a ‘missed opportunity’ following failed merger talks – Odyssean Investment Trust (OIT) has posted its results for the year to 31 March 2022. During the period, the net assets of the Company increased by £35.2m to £157.8m and represented a strong increase in net asset value per […]
In QuotedData’s morning briefing 6 June 2022: Atrato Onsite Energy (ROOF) has posted its interim results for the period from its launch on 16 September 2021 to 31 March 2022. ROOF raised £150m at IPO in November 2021, and has since avoided 18 tonnes of CO2 equivalent. Installed operation capacity ended the period at 976kW […]
Bluefield Solar Income raises £150m following strong demand – Bluefield Solar Income (BSIF) has raised £150m through the issue of 115,384,615 New Ordinary Shares following strong demand from both new and existing investors. The New Ordinary Shares represent approximately 23% of the issued Ordinary Share capital of the company prior to the issue. Proceeds will be […]
Biotech Growth hit by broader market turmoil as it enters 25th year – Biotech Growth (BIOG) has published its final results for the year to 31 March 2022. During the period under review, the company’s NAV per share total return was down 33.8% while its share price total return was down 37%. This compares with […]
In QuotedData’s morning briefing 1 June 2022: Atrato Onsite Energy (ROOF) has invested £6.6m into an operational rooftop solar photovoltaic system for Marks & Spencer. The asset is immediately income producing for the company through the sale of green electricity onsite under a long-term power purchase agreement with M&S. The PV system is installed on […]
Fidelity China Special Situations reports that, over the year ended 31 March 2022, its benchmark index, the MSCI China Index, fell by 29.3%, giving up all of the gains it had made during the previous twelve months. The trust’s net asset value fell by 34.9% as gearing took 10.9 percentage points off returns, outweighing the […]
BMO UK High Income Trust says that over the year ended 31 March 2022, it generated a return on NAV of 1.9%, an ordinary share price return of 0.6%, and a B share return of 1.6%, all well-behind the 13.0% return on the All-Share index. Total distributions on the ordinary shares increased by 2.8% to […]
Schroder Real Estate Investment Trust is buying St. Ann’s House in Manchester, for £14.7m, reflecting a net initial yield of 7.8%, a reversionary yield of 9.1% and a low average capital value of £283 per sq ft. The mixed-use office and retail asset generates £1.22m per annum of headline rent compared with an estimated rental […]
In QuotedData’s morning briefing 31 May 2022: On 6 May 2022, Foresight Sustainable Forestry (FSF) completed the acquisition of Dove Hill, an afforestation project near Dalry, Scotland with a total area of 70 hectares. The property is said to be well suited for the establishment of a high-yielding woodland creation scheme. It will increase the […]
Capital Gearing reveals ‘satisfactory’ results as trust celebrates 40 years under Peter Spiller’s management – Capital Gearing (CGT) has published its annual results for the year to 31 March 2022. During the period, which saw the trust celebrate 40 years under the management of Peter Spiller, its NAV returned 10.5% while its share price returned […]
abrdn Japan underperforms in challenging year but avoids continuation vote – abrdn Japan (AJIT) has published its annual results for the year to 31 March 2022, during which time its NAV total return was -10% and its share price total return was -10.9%. This compares with a -2.7% return from its benchmark. Meanwhile, the company’s […]
In QuotedData’s morning briefing 30 May 2022 BMO Capital and Income (BCI) has published its half-year unaudited results for the six months to 31 March 2022, during which time its share price total return was 2.1% and its NAV return was -1.3%, underperforming its benchmark which returned 4.7% over the same period. Meanwhile, the trust’s […]
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: • Windfall taxes: NextEnergy Solar, Greencoat UK Wind, Bluefield Solar • Fundraising: Gresham House Energy Storage, Home REIT This week’s interview was with Paul Bridge […]
At a time when high inflation and rising interest rates are unnerving global stock markets, it would seem like a moment for quality companies to come to the fore. These businesses should have impeccable credentials for an uncertain world – sound business models, strong management teams, expanding market share – providing stability at a time […]
Following the announcement earlier today that it has terminated its placing programme (click here to read more), Worldwide Healthcare (WWH) has now announced its annual results for the year ended 31 March 2022. These show that, following the previous year’s strong returns, both on an absolute and on a relative basis, the year under review […]
Home REIT, which funds the acquisition and creation of homeless accommodation across the UK, has raised gross proceeds of £263m in a significantly oversubscribed placing. It smashed its initial target of £150m with strong demand from investors in the capital raise. A total of 228,899,083 new ordinary shares at an issue price of 115 pence […]
Downing Renewables & Infrastructure (DORE) has announced that a €43.5m debt facility that its subsidiary, Downing Hydro AB, announced in December 2021 has been classified as a Green Loan by the lender, Skandinaviska Enskilda Banken (SEB), a leading corporate bank in the Nordics. Downing Hydro AB entered into the seven-year debt facility to finance its […]
HarbourVest Global Private Equity (HVPE) has announced its annual results for the year ended 31 January 2022, which its annual report describes as “A strong financial year with record levels of performance and activity”. To summarise, HVPE has provided NAV growth of 37%, share price growth of 48%, a 20 percentage point reduction in its […]
Gresham House Energy Storage (GRID) has announced that its placing, which was announced 25 May 2022, has raised gross proceeds of £150 million. The proceeds, in conjunction with GRID’s available debt facilities, will allow it to fund the majority of its existing pipeline. GRID says that the placing was significantly oversubscribed and a scaling back […]
In QuotedData’s morning briefing 27 May 2022: Worldwide Healthcare (WWH) has announced that it is terminating its placing programme, which was established on 13 July 2021, with immediate effect. WWH expects to publish its annual results later today and, if the placing programme was still in effect, this would have required WWH to publish a […]
LondonMetric Property reported a profit uplift in annual results of 185% to £734.5m, with its focus on the urban logistics sub-sector boosting values. The group’s portfolio valuation was up £1bn in the year to £3.6bn, helped by valuation gains and new acquisitions. EPRA net tangible assets (NTA) increased by 37.2% to 261.1p, driven by 67.9p […]
Picton Property has reported impressive annual results for the year to 31 March 2022, with profit after tax of £147m – its highest since launching in 2005. Net asset value (NAV) was up a massive 24.4% over the 12 months to £657m or 120p per share (2021: £528m and 97p), helped by a 21% like-for-like […]
Edinburgh Investment Trust shareholders may be disappointed that their return for the year ended 31 March 2022 failed to match that of the All-Share. The problem though was one of a widening discount rather than the underlying NAV return. Over the period, the NAV return was 14.1% to the index’s 13.0%, but the return to […]
Over the year to end March 2022, Caledonia Investments produced an NAV return of 27.9%. The dividend was increased by 3% to 64.8p (55th consecutive year of dividend increases), but on top of that the board is proposing a special dividend of 175p. The special dividend is being funded from the profits of two large […]
Over the 12 months ended 31 March 2022, Shires Income underperformed its All-Share benchmark by 1.6%, returning 11.4% in NAV terms to the index’s 13.0%. A narrowing discount helped shareholders do better, however, giving them a return of 18.4%. It was the portfolio’s structure that held things back. A 2.8% return on the portfolio’s preference […]
In QuotedData’s morning briefing 26 May 2022: The Financial Times has a story that there will be a windfall tax on oil and gas firms but, not yet at least, one on energy generators. The idea of an energy generation tax is said to be too complex to implement in a short timeframe. The BBC […]
Foresight Solar proposes policy change to allow investment in development stage assets – Foresight Solar (FSFL) has proposed changes to its investment policy to allow it to invest up to 5% of its gross asset value into development stage assets, being solar or battery storage system opportunities that are pre-construction and may not have secured […]
Bluefield Solar Income pushes issue timetable back in response to windfall tax rumours – The board of Bluefield Solar Income (BSIF) has responded to recent articles regarding unspecific rumours of a possible windfall tax on electricity generators including renewable generators. Given the timing of this press speculation relative to the originally planned closing date and […]
HICL Infrastructure credits inflation for strong results – HICL Infrastructure (HICL) has posted its annual results for the year to 31 March 2022. During this time, its shareholder return was 12.8% while its NAV increased by 7.1%. This outperformance was driven by higher than expected inflation feeding through asset-level valuations, continued market pressure on infrastructure […]
In QuotedData’s morning briefing 25 May 2022: JPMorgan China Growth & Income (JCGI) has posted its interim results for the six months to 31 March 2022. During this time, the trust’s total return on net assets (with net dividends reinvested) fell 30.8%, underperforming the benchmark MSCI China Index’s 17.5% decline (in sterling terms). The total […]
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