Following a similar announcement from Gresham House Energy storage (GRID – click here to see our coverage of this from yesterday), Harmony Energy Income Trust (HEIT) has also issued a trading update ahead of the publication of its quarterly Net Asset Value update and audited annual results later this month. Like GRID, HEIT says that […]
Octopus Renewables Infrastructure Trust (ORIT) has acquired four newly-constructed solar farms located close to Dublin, Ireland for a total cost of €160m. The solar complex totals 199MW and was acquired from Statkraft Ireland Limited, which developed and constructed the projects under ORIT’s oversight. Following the acquisition, ORIT’s total capacity of operational renewable energy assets reaches […]
Vietnam Enterprise Investments Limited (VEIL) has announced that Mr. Tuan Anh Le (Tuan) has been appointed as the lead portfolio manager, stepping up from deputy manager, with effect from 1 February 2024. Tuan succeeds Mr. Dien Vu Huu (Dien) who is moving to a new role at Dragon Capital. Tuan joined Dragon Capital as a […]
In QuotedData’s morning briefing 2 February 2024: On 1 February 2024, Apax XI Fund announced that it had closed the acquisition of WGSN, a consumer trend forecaster, from Ascential Plc. Apax Global Alpha (AGA), which is a limited partner in Apax XI, says that it has invested approximately €21.5m in WGSN on a look-through basis […]
Henderson Opportunities Trust (HOT) has published its annual report. In a difficult backdrop for smaller companies, HOT says that it has been a very disappointing year for the company in both absolute and relative terms. HOT reported a NAV total return of -9.3% and a share price total return of -12.2%. Over the same period, […]
HarbourVest Global Private Equity Limited (HVPE) has launched a distribution pool to finance future share buybacks or return capital to shareholders by means of special dividends: The shareholder distribution policy will provide cash for shareholders to bolster their returns through the cycle The distribution pool will be funded from cash realisations, with 15% of […]
Aberforth Smaller Companies has published results for the year that ended on 31 December 2023. Its NAV return lagged that of its index benchmark (Deutsche Numis Smaller Companies ex Investment Companies), returning 8.2% to the index’s 10.1%. A small widening of the discount meant that shareholders got a return of 8.0%. The dividend was upped […]
Gresham House Energy Storage has published a trading update ahead of the publication of its results in April 2024. It says that it is still impacted by a weak revenue environment, due to a combination of: battery energy storage (BESS) still being significantly under-utilised in National Grid ESO’s Balancing Mechanism – its forum for trading […]
In QuotedData’s morning briefing 1 February 2024: CVC Income & Growth (CVCE / CVCG) is holding a tender offer in March. As part of this it is offering shareholders the chance to sell their shares on to third parties rather than wait for the tender. The broker Winterflood will try to sell the shares but […]
Location Sciences (LSAI) has announced the acquisition of Chrysalis (CHRY) portfolio company Sorted Holdings, for an aggregate nominal consideration of approximately £66.73 to be paid in cash at completion. The company is a SaaS business that supports retailers’ deliveries and collections which has received a significant amount of capital investment, in excess of £70m, to […]
abrdn Private Equity Opportunities Trust (APEO) announced its annual report for the period ended 30 September 2023. NAV total return for the year was 5.4% while share price total return was 11.5%, trailing the benchmark FTSE all-share index return of 13.8%. Commenting on the results, chair Alan Devine noted: “The past 12 months have been […]
European Opportunities Trust (EOT) announced the results of its tender offer to purchase up to 25% of the company’s ordinary shares in issue (you can read about the original announcement here). The offer was taken up in full and, after taking account of roundings, the company will purchase a total of 24,074,030 shares at the […]
In QuotedData’s morning briefing 31 January 2024: Henderson Smaller Companies Investment Trust (HSL) announced its results for the half year ended 30 November 2023. NAV total return fell by 7.7% during the six month period, while the benchmark Numis Smaller Companies ex-Investment Companies Index was almost flat, and the AIC UK Smaller Companies sector average […]
In QuotedData’s morning briefing 30 January 2024: Greencoat UK Wind (UKW) announced the appointment of Abigail Rotheroe as a non-executive director of the company. Her appointment will be effective from 1 March 2024. Abigail is a CFA Charterholder and brings over 20 years’ experience in the investment industry. She is the former investment director of […]
Grit Real Estate Income Group, the pan-African real estate company, has subscribed to its share of a $100m capital call from its development subsidiary GREA (Gateway Real Estate Africa), which will use the funds to construct US Embassy-let diplomatic housing and other real estate. To fund the $51.5m capital call, the company sold its interest […]
GCP Asset Backed Income has published more information on its portfolio and its strategic review. In addition, an updated portfolio report is now on the company’s website at https://www.graviscapital.com/funds/gabi-strategic-review/literature. Portfolio repayment profile As at 31 December 2023, the company was invested in a portfolio of 42 asset backed loans with a weighted average loan duration […]
Chrysalis Investments (CHRY) has released a quarterly update to end December 2023 and its annual results for the year ending 30 September 2023. This is the last set of annual results released by the CHRY team under its tenure at Jupiter, as the investment team has previously announced that it will launch its own independent […]
The board of Digital 9 Infrastructure (DGI9) has announced that following the conclusion of its strategic review, announced in November 2023, it has decided to propose a managed wind-down. The decision was made in consultation with DGI9’s financial advisers, as well as taking into account feedback received from a large number of shareholders and institutional […]
In QuotedData’s morning briefing 29 January 2024: Literacy Capital (BOOK) has provided a quarterly trading update and NAV announcement for the fourth quarter of 2023. Over the period BOOK saw a NAV uplift of $4.6m, or 7.7p per share, equal to a quarterly return of 1.6%. Its total NAV for the end of 2023 was […]
Marble Point Loan Financing (MPLF) is convening EGMs (for both its liquidating share class and ordinary share class) following the receipt of a requisition notice from Freestone Advantage Partners III LP to consider proposals for amending MPLS’s articles of incorporation to allow for a liquidating share opportunity every year (rather than every other financial year […]
As we covered on our Wednesday news post, this week saw JPMorgan Multi Asset Growth & Income (MATE) announce its merger with JPMorgan Global Growth & Income (JGGI). For fans of investment companies, this story may seem familiar as JGGI has already swallowed up the Scottish Investment Trust and JPMorgan Elect. MATE’s board outlined several […]
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: • Asia Energy Impact (0:47) • JPMorgan Multi-Asset (5:10) • abrdn Private Equity Opportunities (8:26) This week’s interview was with Nick Montgomery and Bradley Biggins […]
Smithson (SSON) has published its manager’s review for the year ended 31 December 2023, during which its net asset value per share (NAV) increased by 13.3% and its share price increased by 8.2%. In comparison, the MSCI World Small and Mid-Cap Index (‘SMID’), SSON’s reference index, increased by 9.1% during the same period. 2023 saw […]
The sale of a €34.6m stake in European supermarket group Action has freed up funds that abrdn Private Equity Opportunities now intends to use to fund a share buyback. [The trust’s discount is – in our view – ridiculously and unjustifiably wide. Currently it trades on a 38.4% discount to an NAV that is likely […]
Bluefield Solar has progressed the deal with GLIL Infrastructure that was announced late last year. It has invested £20m in the joint venture partnership that is acquiring the Lightsource bp portfolio of solar assets. The 58 operating site Lightsource bp portfolio is comprised of: 184MW backed by Feed in Tariff (FiT) subsidies, 15MW by Renewable […]
Market conditions in Japan continue to suit CC Japan Income and Growth which has just reported an NAV return of 18.9% for the year ended 31 October 2023, well ahead of the 12.0% return reported on TOPIX, the benchmark. Shareholders got a return of 20.9% as the discount narrowed. Returns would have been higher but […]
In QuotedData’s morning briefing 25 January 2024: Invesco Asia (IAT) says that from 1 May 2024, its two co-portfolio managers will swap roles, with Fiona Yang taking the lead from Ian Hargreaves, but will both continue to work very closely together on the portfolio. The directors say that they have been impressed by Fiona’s contribution […]
The Chrysalis share price has been rising in recent days on the back of hope that Klarna, one of its largest investments, was considering an IPO. The CEO Sebastian Siemiatkowski was interviewed recently by Bloomberg and talked about his thoughts on an IPO of the company. The valuation of Klarna was written up and then […]
JPMorgan Multi-Asset Growth & Income (MATE) and JPMorgan Global Growth & Income (JGGI) have announced that the two companies have agreed heads of terms in respect of a proposed rollover of assets from MATE to JGGI. MATE shareholders will receive new shares in JGGI which will provide them with exposure to a diversified portfolio of […]
JPMorgan Emerging Europe, Middle East and Africa Securities (JEMA), formerly JPMorgan Russian Securities, announced its annual results for the period ended 31 October 2023. The company’s performance over the 12 month period was flat, however the managers point out that in the eight months from 1st March 2023 to 31st October 2023, the company’s net […]
