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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).

09 Jun 2022

QuotedData’s morning briefing 9 June 2022

In QuotedData’s morning briefing 9 June 2022: NextEnergy Solar Fund (NESF) now has its hundredth operating solar asset, an 181kW commercial rooftop solar power asset located on a Holiday Inn in Nottinghamshire. The asset benefits from an attractive 25-year power purchase agreement for 100% of its generated volume. This is the final investment under the […]

Companies
08 Jun 2022
220608 computer

HgCapital boosts holding in The Access Group

HgCapital boosts holding in The Access Group – HgCapital (HGT) has provided further investment to The Access Group, a leading provider of business management software to mid-market organisations in the UK, Ireland and Asia Pacific. Together with TA Associates, the company invested an associated enterprise value of £9.2bn, believed to make Access one of the […]

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

QuotedData’s morning briefing 8 June 2022

In QuotedData’s morning briefing 8 June 2022: International Public Partnerships (INPP) has posted a portfolio update for the period 1 January to 31 May 2022. During this time, approximately £48m of investments and commitments were made, including an additional c.£40m investment being announced into Tideway, the company building a 25km ‘super-sewer’ under the River Thames. […]

Sectors
Companies
07 Jun 2022

Jupiter lined up for Rights and Issues as manager retires

Simon Knott, the investment director of Rights and Issues Trust, intends to retire as the investment manager with effect from 1st September 2022. However, he will remain a non-executive director of the company. With the help of external consultants, the board carried out a review of potential investment managers. It has decided appoint Jupiter Unit […]

07 Jun 2022
210820 LXI York Biotech Campus LXI REIT

LXI REIT reports 18.2% NAV total return in annual results

LXI REIT has reported a NAV total return of 18.2% in the year to 31 March 2022. The company, which is currently going through the process of a merger with Secure Income REIT, has delivered an annualised NAV total return of 11.2% per annum since its launch – comfortably ahead of its 8% per year […]

Sectors
07 Jun 2022

Schroder REIT reports sharp rise in NAV

Schroder REIT saw its net asset value (NAV) soar by 25.4% in the year to 31 March 2022, as property capital values rebounded strongly. The group expects capital value growth to slow this year as the rapid rise in inflation creates volatility. However, it added that it does not expect a significant correction in values, […]

Sectors
07 Jun 2022

Downing Renewables launches £50m fundraise

Downing Renewables & Infrastructure Trust is aiming to raise £50m through an issue of up to 45,669,495 new ordinary shares at 111p per share, and to establish a 12-month share issuance programme to issue up to 250m ordinary shares (less the number issued under this initial issue). Shareholders need to approve these plans. The net […]

07 Jun 2022

Apax bids for EcoOnline

Apax X, one of the funds that Apax Global Alpha has backed (to the tune of $450m in July 2019), is making an agreed bid for EcoOnline. On 2 June 2022, the Apax X Fund announced that it has reached an agreement with the board of EcoOnline Holding AS, an Environment, Health and Safety software-as-a-service […]

07 Jun 2022

Chrysalis establishes new independent valuation committee

Chysalis Investments’ board has appointed a new independent valuation committee in preparation for its previously announced move to a self-managed structure, which will take effect from 1 July 2022. The management team at Jupiter, led by Richard Watts and Nick Williamson, will be unaffected. However, the company will assume direct responsibility for the valuation process. […]

Sectors
07 Jun 2022
US Solar Fund

QuotedData’s morning briefing 7 June 2022

In QuotedData’s morning briefing 7 June 2022: US Solar Fund (USF) has bought a further 25% interest (Tranche 2) in the 200MWDC Mount Signal 2 solar plant, taking its total ownership to 50% or 100MWDC. The deal was funded with available cash. US Solar Fund’s portfolio now comprises 42 fully operational assets with a combined […]

06 Jun 2022

Edinburgh Worldwide portfolio in ‘the eye of the storm’ says board

Edinburgh Worldwide portfolio in ‘the eye of the storm’ says board – Edinburgh Worldwide (EWI) has posted its interim results for the six months to 30 April 2022. During the period, its net asset value per share decreased by 34.1%, compared to a fall of 6.8% from the S&P Global Smaller Companies Index. The trust’s […]

Sectors
06 Jun 2022
Odyssean beats Index since IPO

Odyssean outperforms during tough year while board highlights a ‘missed opportunity’ following failed merger talks

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 […]

06 Jun 2022

QuotedData’s morning briefing 6 June 2022

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  […]

Sectors
Companies
01 Jun 2022

Bluefield Solar Income raises £150m following strong demand

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 […]

01 Jun 2022
Biotech Growth's NAV shrinks by a quarter

Biotech Growth hit by broader market turmoil as it enters 25th year

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 […]

Sectors
01 Jun 2022

QuotedData’s morning briefing 1 June 2022

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 […]

Sectors
Companies
31 May 2022

Fidelity China ramps up gearing after year of sizeable losses

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 […]

Sectors
31 May 2022

BMO UK High Income pleads case for continuation

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 […]

Companies
31 May 2022

Schroder Real Estate buys St Ann’s House Manchester

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 […]

31 May 2022

QuotedData’s morning briefing 31 May 2022

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 […]

30 May 2022
Capital Gearing Trust net asset value is up 5.3%

Capital Gearing reveals ‘satisfactory’ results as trust celebrates 40 years under Peter Spiller’s management

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 […]

Sectors
30 May 2022

abrdn Japan underperforms in challenging year but avoids continuation vote

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 […]

30 May 2022

QuotedData’s morning briefing 30 May 2022

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 […]

27 May 2022

QuotedData’s weekly news show 27th May 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: • Windfall taxes: NextEnergy Solar, Greencoat UK Wind, Bluefield Solar • Fundraising: Gresham House Energy Storage, Home REIT This week’s interview was with Paul Bridge […]

Sectors
Companies
27 May 2022

QD view – Unloved quality

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 […]

Sectors
Companies
27 May 2022

Major underperformance for Worldwide Healthcare

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 […]

Sectors
27 May 2022
home reit logo over a picture of a residential street

Home REIT raises £263m to tackle homeless crisis

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 […]

Sectors
27 May 2022

Downing Renewables & Infrastructure’s hydro debt facility classified as a green loan

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 […]

27 May 2022

HarbourVest Global Private Equity has its best year since its inception

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 […]

27 May 2022
battery stoage

Gresham House Energy Storage rakes in £150m

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 […]

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