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 […]
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 […]
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, […]
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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% […]
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 […]
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 […]
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: • Lindsell Train • Montanaro UK Smaller Companies • Boussard & Gavaudan This week’s interview was with Laura Elkin from AEW UK REIT – watch […]
The bad news just keeps mounting up and the economic outlook is getting gloomier. Inflation has shifted from being a post-COVID legacy to a global problem, while ominous economic predictions keep piling up. A fall in UK GDP was revealed this week and was followed by another interest rate hike by the Bank of England […]
Boussard & Gavaudan Holdings (tickers BGHS and BGHL for its sterling and Euro share classes respectively) has announced that, on 10 June 2022, notice was served by Mr Emmanuel Gavaudan, requiring the company’s Board to convene a general meeting to consider the appointment of two additional directors nominated by him. The board is satisfied with […]
ORIT acquires Breach Solar Farm, Cambridge Octopus Renewables Infrastructure Trust (ORIT) announce the acquisition of Breach Solar Farm, a roughly 68MW ready-to-build solar PV project in Cambridgeshire, UK, from AGR Renewables. The total cost of acquiring and constructing the solar PV project is expected to be approximately £50m. The purchase also gives ORIT the right […]
In QuotedData’s morning briefing 17 June 2022: River & Mercantile UK Micro Cap (RMMC) has published its interim results for the six months ended 31 March 2022, during which it provided an NAV total return of -23.53%, significantly underperforming its benchmark, the Numis Smaller Companies plus AIM ex Investment Companies Index, which provided a total […]
Capital & Counties (CAPC) and Shaftesbury have reached an agreement on a £3.5bn all-share merger. The merger of the two West End of London landlords, which will be called Shaftesbury Capital Plc, had been rumoured for years and it was confirmed last month that talks were taking place. Under the terms of the proposed merger […]
JLEN Environmental Assets Group has published results for the year ended 31 March 2022. Over the 12-month period to 31 March 2022, shareholders saw a share price total return of 7.4%. The chairman Richard Morse said: “JLEN has had an outstanding year, with NAV appreciation per share of 25%, £118 million raised through two oversubscribed equity […]
abrdn Private Equity Opportunities says that its estimated net asset value at 31 May 2022 was 715.2p, up from 704.3p at end April 2022. The trust funded £24.0m of drawdowns and received £6.1m of distributions during the month of May. The distributions received generated realised gains and income of £3.7m. It made one new primary […]
Syncona’s results for the financial year ended 31 March 2022 show an NAV total return of just 0.3%. However, this was a long way ahead of the -12% return on the NASDAQ Biotechnology Index. A significant NAV uplift achieved through the sale of Gyroscope to Novartis and multiple successful private financings offset the decline in […]
In QuotedData’s morning briefing 16 June 2022: The US central bank, the Federal Reserve has raised its base rate by 75 basis points (0.75%) to a target range of 1.50-1.75% and indicated that it would raise rates by between 0.5% and 0.75% at its next meeting, as it struggles to combat inflation. NB Global Monthly […]
Templeton Emerging Markets takes double beating from pressure on tech and Russian conflict – Templeton Emerging Markets (TEM) has posted its final results for the year to 31 March 2022. During the period its NAV total return fell by 17.3% while its share price total return fell by 21.2%. This compares with just a 6.8% […]
Lindsell Train Investment Trust highlights three factors for second year of underperformance – Lindsell Train Investment Trust (LTI) has posted its annual results for the 12 months to 31 March 2022, during which time it suffered a second consecutive year of disappointing relative performance as compared to its recently introduced equity benchmark – the MSCI […]
Montanaro UK Smaller Companies suffers from ‘most volatile two-year period’ ever experienced by manager – Montanaro UK Smaller Companies (MTU) has released its final results for the year to 31 March, during which time its NAV declined by 5% while its share price fell by 10%. In comparison, the Numis Smaller Companies (excluding investment companies) […]
3i Infrastructure to increase stake in ground support equipment leader TCR – 3i Infrastructure has agreed to acquire the stake in TCR owned by funds managed by DWS, which will result in it increasing its holding from around 48% to around 96% of the equity in TCR, alongside management. This further investment is expected to […]
In QuotedData’s morning briefing 15 June 2022: BMO Global Smaller Companies (BGSC) has changed its name to The Global Smaller Companies Trust PLC. The company will explain the reasoning and announcing a new ticker in its annual results, due for release next week. Aberdeen Diversified Income & Growth (ADIG) has posted its interim results for […]
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