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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 Jun 2022

QuotedData’s morning briefing 28 June 2022

In QuotedData’s morning briefing 28 June 2022: Pharmakon Advisors, the investment manager of BioPharma Credit (BPCR)  says that it notes the announcement released yesterday by Ipsen regarding its planned purchase of Epizyme Inc. BioPharma Credit has a $110m investment in a senior secured loan to Epizyme which would be prepaid upon the closing of the […]

27 Jun 2022

Aquila European updates on Albeniz and The Rock

Aquila European Renewables Income Fund says that, with energisation completed, its Albeniz asset is now fully operational and producing revenue. Albeniz is a 50 MWp solar PV project located in the south of Spain acquired in December 2020. The asset is expected to have an operating life of 30 years after commissioning. Albeniz benefits from […]

27 Jun 2022

Pantheon Infrastructure buys US power company

Pantheon Infrastructure has invested approximately $58m (£47.3m at current exchange rates) in independent US power producer Calpine Corporation. Calpine Corporation is one of the largest generators of electricity from natural gas and geothermal resources in the US, with operations across the CAISO (California), ERCOT (Texas), and PJM (13 states and the District of Columbia) power […]

Sectors
27 Jun 2022

Taylor Maritime sells one vessel and cancels sale of another

Taylor Maritime Investments has agreed to sell a 2009 built Handysize vessel for proceeds of $17.2m. The vessel was an IPO seed asset and the sale is expected to complete before the end of August 2022, generating an IRR of 80% and MOIC of 1.9x.  This represents an 8% premium to the 31 March 2022 […]

27 Jun 2022

Digital 9 buying Arqiva stake

Digital 9 Infrastructure has agreed the terms of an acquisition of a 48.02% voting stake in Arqiva Group Limited. The completion of the acquisition is subject to customary regulatory approvals, and it will be funded through a combination of £300m in cash and a £159.3m (not £135.5m – the two announcements this morning don’t tie up) […]

Sectors
27 Jun 2022
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 27 June 2022

In QuotedData’s morning briefing 27 June 2022: We have news of an acquisition and fundraise by Digital 9 Infrastructure, portfolio updates from Taylor Maritime and Aquila European Renewables, a new investment for Pantheon Infrastructure, and full year results from NextEnergy Solar.

24 Jun 2022

QuotedData’s weekly news show 24th June 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 and Richard Williams covered the week’s top stories: • Triple Point Energy Efficiency • Trian 1 • Urban Logistics This week’s interview was with Pedro Gonzalez de Cosio, manager of […]

Sectors
Companies
24 Jun 2022

QD view – Discounted opportunity – Not all private equity is exuberant growth plays

If investors listened to the headlines, they would be understandably nervous about the prospects for private equity. Vincent Mortier, chief investment officer of Amundi, the largest asset manager in Europe, described parts of the industry as a “Ponzi scheme”[1], while former Pimco chief Mohamed El-Erian also raised concerns about the sector, notably its claims to […]

24 Jun 2022
inside a forest of moss covered trees

Foresight Sustainable Forestry raises £45m

Foresight Sustainable Forestry (FSF) has announced that its fundraise, which was announced on 14 June 2022, has raised gross proceeds £45m. FSF says that 38,002,022 new ordinary shares will be issued pursuant to the Placing, and 4,054,052 New Ordinary Shares will be issued pursuant to the Offer for Subscription. The issue price is 107 pence […]

24 Jun 2022

Triple Point Energy Efficiency Infrastructure to focus on energy transition

Triple Point Energy Efficiency Infrastructure (TEEC) has announced that its board has initiated a consultation process with a number of key shareholders regarding potential amendments to TEEC’s investment policy and, related to that, a change to the company’s name. Separately, the company has also announced its annual results for the year ended 31 March 2022 […]

24 Jun 2022

Montanaro European Smaller Companies “unremarkable results disguise significant volatility”

Montanaro European Smaller Companies (MTE) has announced its annual results for the year ended 31 March 2022, during which it provided NAV and share price total returns of 8.4% and 4.8% respectively, outperforming its benchmark, which returned 3.8%. The trust’s chairman, R M Curling, says that while these headline numbers might appear unremarkable, they disguise […]

Sectors
24 Jun 2022

Aquila Energy Efficiency results address disappointing deployment

Aquila Energy Efficiency Trust (AEET) has announced its final results for the year ended 31 December 2021, during which it provided NAV and share price total returns of -0.6% and -4.3% respectively. AEET’s chair, Miriam Greenwood OBE DL, says that despite the optimism at the time of AEET’s flotation in June 2021, deployment of monies […]

24 Jun 2022
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 24 June 2022

In QuotedData’s morning briefing 24 June 2022: Literacy Capital (BOOK) has announced that it has received approval as an investment trust, with effect from its accounting period commencing on 1 April 2022. Augmentum Fintech (AUGM) has announced that, following the publication of its annual results on 4 July 2022, it will be holding a capital […]

Sectors
23 Jun 2022

Urban Logistics REIT doubles in size in transformational year

Urban Logistics REIT doubles size of portfolio in “transformational year” and reports a 23.9% uplift in NAV. The group, which raised £358m of equity, moved to the main market and was included in the FTSE 250 index in the 12 months to 31 March 2022, said its portfolio of mid-box urban warehouses was now valued […]

Sectors
23 Jun 2022

Oakley Capital sells facile.it

Oakley Capital Investments says that Oakley Capital Fund III has reached an agreement to sell its stake in Facile.it, Italy’s largest online price comparison platform to Silver Lake. The trust’s share of proceeds will be about £53m. The price represents about a 23% premium to the 31 March 2022 carrying value, and adds about 6 […]

23 Jun 2022

Growth selloff hits JPMorgan Japan Small Cap

JPMorgan Japan Small Cap Growth and Income reports that, for the 12 months ended 31 March 2022, it produced an NAV return of -24.6% and a return to shareholders of -23.3%. These compare to a return of -8.1% for the benchmark, the MSCI Japan Small Cap Index. The chairman says that “This underperformance was the […]

23 Jun 2022

Rockwood Strategic well ahead of benchmark in turbulent year

Rockwood Strategic, which had a turbulent financial year over the 12 months ended 31 March 2022, managed to produce an NAV return of 27.5% for the period, well ahead of the 3.2% return on the Small Cap Index. The return to shareholders was 22.2%. The board believes that, until the company has gained greater scale, […]

23 Jun 2022

QuotedData’s morning briefing 23 June 2022

In QuotedData’s morning briefing 23 June 2022: BlackRock World Mining Trust (BRWM) says that the up coming IPO of Ivanhoe Electric Inc. on Friday, 24 June 2022 would, at the mid-point of the announced IPO valuation range, add about 1.4% to its NAV. The trust’s investment consists of common shares of Ivanhoe Electric Inc. and […]

Companies
22 Jun 2022

Ecofin US Renewables publishes trading update

Ecofin US Renewables has published trading update ahead of today’s AGM. It says that the US renewable energy industry continues to offer bright prospects for ongoing investment and growth, even while facing the near term challenges of supply chain constraints, inflation, and a trade dispute on imported solar products. In the first quarter of 2022, […]

22 Jun 2022

Impact Healthcare REIT announces capital raise

Care home provider Impact Healthcare REIT has announced its intention to issue new equity to acquire an identified pipeline of care homes. The company proposes raising new equity through a placing under its existing placing programme and in addition an offer for subscription to raise up to the Sterling equivalent of €8m. The size of […]

Sectors
22 Jun 2022
AEW UK REIT Sandford House Solihull AEWU

AEW UK REIT posts 29.7% total return

AEW UK REIT delivered a NAV total return of 29.7% for the year to 31 March 2022, helped by a large increase in the value of its portfolio. The small cap, diversified property company posted a 21.7% uplift in NAV over the year to 120.63p per share (2021: 99.15p), as the economy re-opened following pandemic […]

Sectors
22 Jun 2022
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 22 June 2022

In QuotedData’s morning briefing 22 June 2022: Harmony Energy Income Trust (HEIT) has agreed a debt facility of £60m with NatWest Plc. The five-year facility has an initial margin of 300bps (3%) over SONIA, rising over time to a maximum of 375bps by year five, but is interest-only for the first three years. There is […]

21 Jun 2022
GCP Infrastructure Investments

GCP Infrastructure confirms big jump in NAV

GCP Infrastructure has published its half-year results, covering the six months ended 31 March 2022. As flagged previously, the NAV has jumped to 112.75p from 103.92p at end September 2021. The company is reporting a total shareholder return for the period of 13.7%. The profit for the period of £108.9m reflects the impact on valuations […]

Sectors
21 Jun 2022

Monks investors pray for performance recovery

Monks Investment Trust has reported results for the year ended 30 April 2022 and these show the effect of the selloff in growth style investments. Over the period, the NAV total return was -18.9% compared to a total return of +6.1% for the World Index. The share price total return for the same period was […]

Sectors
21 Jun 2022

Momentum Multi-Asset Value falling behind benchmark

Over the year ended 30 April 2022, Momentum Multi-Asset Value Trust generated a return on NAV of 0.9% and a share price return of 1.5%, both well-behind the 15.0% return on its chosen benchmark of inflation (as measured by  CPI) plus 6%. Dividends for the year increased from 6.72p per share to 7.20p per share […]

Sectors
21 Jun 2022

Schroder British Opportunities takes stake in Pirum

Schroder British Opportunities Trust has made an investment into Pirum Systems Limited, which it describes as a leading provider of post-trade automation and collateral management technology for the global securities industry. The investment was made in conjunction with Schroders’ long-standing investment partner Bowmark Capital, a UK based technology and services investor. Bowmark Capital first invested […]

Sectors
21 Jun 2022

QuotedData’s morning briefing 21 June 2022

In QuotedData’s morning briefing 21 June 2022: ThomasLloyd Energy Impact (TLEI) is buying the remaining 57% of SolarArise India Projects for $38.5m. SolarArise is a Delhi based renewable energy platform which holds interests in seven solar power projects in India totalling 434 MW, of which 234 MW is operational and 200 MW is construction-ready. 100% […]

20 Jun 2022

Trian shareholders call for EGM to replace three directors for not meeting ‘required standards of corporate governance’

Trian shareholders call for EGM to replace three directors for not meeting ‘required standards of corporate governance’ – An ad hoc committee established by a group of independent investors in Trian Investors 1 Limited has called for an extraordinary general meeting to propose the removal of three of its directors and nominating two others to […]

20 Jun 2022
a green coffee cup sitting on a book

QuotedData’s morning briefing 20 June 2022

In QuotedData’s morning briefing 20 June 2022: Utilico Emerging Markets (UEM) has posted its final results for the year to 31 March 2022, during which time it delivered an NAV total return of 14.9% and a share price return of 17.6%, way ahead of the MSCI EM total return index which was down 6.9% over […]

Sectors
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