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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).

27 May 2022

QuotedData’s morning briefing 27 May 2022

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 […]

Sectors
26 May 2022

Wider discount holds back Edinburgh

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 […]

26 May 2022

Strong performance and a special dividend from Caledonia

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 […]

Sectors
26 May 2022
the kelpies

Narrower discount and good equity returns for Shires

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 […]

26 May 2022
a green coffee cup sitting on a book

QuotedData’s morning briefing 26 May 2022

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 […]

Companies
25 May 2022
Foresight Solar 2018 results published: Things looking up

Foresight Solar proposes policy change to allow investment in development stage assets

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 […]

25 May 2022

Bluefield Solar Income pushes issue timetable back in response to windfall tax rumours

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 […]

25 May 2022
HICL Infrastructure HICL

HICL Infrastructure credits inflation for strong results

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 […]

Sectors
25 May 2022

QuotedData’s morning briefing 25 May 2022

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 […]

Sectors
Companies
24 May 2022

Renewable energy funds hit by windfall tax rumour

A story in today’s Financial Times seems to have triggered a slide in the share prices of a number of renewable energy companies. Rishi Sunak is said to be exploring the possibility of a windfall tax on all energy generating companies, including those in the renewable energy sector, as well as oil and gas companies. […]

Companies
24 May 2022

Greencoat buying four French windfarms

Greencoat Renewables is buying a 65MW portfolio of operating wind farms in France from Axpo, Switzerland’s largest producer of renewable energy.  The acquisition comprises four wind farms, each of which benefits from long-term contracts with the French government.  The 16MW Arcy-Précy windfarm is located in the Burgundy region of France and consists of eight Vestas […]

24 May 2022

Warehouse REIT posts 33.2% NAV total return as it gears up for main market move

Warehouse REIT delivered a NAV total return for the year to 31 March 2022 of 33.2%, as it gears up for a move from AIM to the main market. EPRA net tangible assets (NTA) per share was up 28.6% to 173.8p (31 March 2021: 135.1 pence), thanks to a large increase in the value of […]

Sectors
24 May 2022
a cup of tea, a croissant and some magazines

QuotedData’s morning briefing 24 May 2022

In QuotedData’s morning briefing 24 May 2022: Alina Holdings says that due to “the recent collapse in Global Equity Markets, and the board’s relatively bleak economic outlook with the potential for ‘Stagflation’, leading to further stock market declines” it intends to undertake an accelerated strategic review, including the potential sale of the company or liquidation […]

Sectors
23 May 2022

JZ Capital Partners to benefit from portfolio holding sale in JZHL Secondary Fund

JZ Capital Partners to benefit from portfolio holding sale in JZHL Secondary Fund – JZ Capital Partners (JZCP), has provided a further update in relation to its interest in the secondary fund, JZHL Secondary Fund, which was the fund it had earlier sold its interests in certain US microcap portfolio companies to. Since JZCP’s last […]

Sectors
23 May 2022

Fund Manager Brief: Paul Bridge, Civitas Investment Management

Paul Bridge – Fund Manager Paul is the Chief Executive Officer within the Social Housing strategy. Paul has worked in all aspects of Social Housing for over 20 years and is a senior industry figure. From 2008 to 2014, Paul was Chief Executive of Homes for Haringey, a Registered Provider, where he was responsible for […]

Sectors
23 May 2022

Fund Brief: Civitas Social Housing plc

About Civitas Social Housing Since Civitas Social Housing began investing their approach has drawn other significant investors  into the sector with a variety of strategies and led to social housing and associated healthcare facilities emerging as an institutional alternative asset class. Civitas Social Housing are passionate about their work and the opportunity it presents to change […]

Sectors
23 May 2022

Bluefield Solar Income buys battery storage projects in Derbyshire and Worcestershire

Bluefield Solar Income buys battery storage projects in Derbyshire and Worcestershire – Bluefield Solar Income (BSIF) has acquired two standalone 40 MW battery storage projects from Green Hedge Energy UK Limited for approximately £4.5m. The acquisition represents the development rights, grid connection costs and the leasehold of land for the two projects, which are based […]

23 May 2022
Schroder Oriental reports marginal underperformance

Schroder Oriental Income cuts performance fee

Schroder Oriental Income cuts performance fee – Schroder Oriental Income (SOI) has posted its interim results for the six months to 29 February 2022. During this period, the trust delivered an NAV return of 0.9% and a share price return of -0.7%. The share price discount to NAV ended the six month period at 5.2%, […]

Sectors
23 May 2022
a green coffee cup sitting on a book

QuotedData’s morning briefing 23 May 2022

In QuotedData’s morning briefing 23 May 2022: Pantheon Infrastructure (PINT) has invested approximately $46.1m (£37m) in Cartier Energy, a district energy platform in the US. The business is made up of eight district energy systems located across the Northeast, Mid-Atlantic and Midwest and provides diversified energy services such as heat (steam, hot water), cooling (chilled […]

Sectors
Companies
20 May 2022

Scottish Mortgage: why decarbonisation needs patient investors

Scottish Mortgage Investment Trust’s Claire Shaw explains why investing in the next generation of green technologies requires time and patience. “What is the greater challenge to decarbonisation? The speed at which we need to find breakthrough innovations to reform carbon-intensive sectors at scale or the patience investors require to fund the companies set to do […]

20 May 2022

QuotedData’s weekly news show 20th 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: • Scottish Mortgage • HydrogenOne This week’s interview was with James Thom of Aberdeen New Dawn – watch it again here.

Sectors
20 May 2022
Scottish Mortgage - SMT

QD view – what’s the craic, Scottish Mortgage?

The recent sell-off in growth and technology stocks has seen investment trust superstar Scottish Mortgage’s (SMT) share price plummet by around 50% over the past six months, which led it to announce negative returns in its 2021/2022 annual report for the first time in years. This downturn deviates from the consistent growth usually delivered by […]

Sectors
20 May 2022

JPMorgan Japanese relative performance hit by growth focus

JPMorgan Japanese (JFJ) has published its interim results for the six-months ended 31 March 2022. The period is one that has seen investors rotate away from the kind of high quality and high growth companies that JFJ focuses on (its manager runs a high conviction, unconstrained approach focused on finding the best investment ideas in […]

20 May 2022

ICG-Longbow Senior Secured UK Property Debt benefits from improving market for sales and refinancings

ICG-Longbow Senior Secured UK Property Debt (LBOW) has announced its annual results for the year ended 31 January 2022. LBOPW’s chairman, Jack Perry, says that at a domestic level, the UK property market has largely shaken off the effects of the Covid-19 pandemic with occupational, investment and finance market transactions returning to something like normal […]

20 May 2022

Securities Trust of Scotland buoyed by consumer staples and IT exposures

Securities Trust of Scotland (STS) has announced its annual results for the year ended 31 March 2022. During the period, STS provided NAV and share price total returns of 16.8% and 17.4% respectively, which compared to a total return of 10.8% in the Lipper Global – Equity Global Income Index. These compare to a net […]

Sectors
20 May 2022

QuotedData’s morning briefing 20 May 2022

In QuotedData’s morning briefing 20 May 2022: Ecofin Renewables Infrastructure (RNEW) has announced that its fundraising, which was undertaken as both a placing and REX retail offer, has raised gross proceeds of US$13.1m. US$10.8m was raised through the placing and £1.8m (equivalent to approximately US$2.3m) was raised through the REX Retail Offer. RNEW will issue […]

19 May 2022

Growth sell-off dents Scottish Mortgage

Over the twelve months to 31 March 2022, Scottish Mortgage returned -13.1% in NAV terms and -9.5% in share price terms as compared to a 12.8% increase in the All-World Index. The chair says “these last couple of years have been extraordinary and do not offer a suitable timeframe over which to judge investment returns” […]

Sectors
19 May 2022
210521 AJOT - SK Kaken

AVI targets SK Kaken

Asset Value Investors (AVI), manager of AVI Japan Opportunities, has submitted shareholder proposals to SK Kaken addressing six issues which it feels contribute to that company’s poor share price performance, low valuation, and potential delisting from the Tokyo Stock Exchange (TSE). AVI says that, despite a high-quality business model and a dominant share of the […]

19 May 2022

HICL Infrastructure makes first broadband investment

HICL Infrastructure has invested in fibre broadband for the first time, buying a 55% shareholding in ADTIM SAS in France from DIF Capital Partners. Following completion, ADTIM will represent approximately 2% of HICL’s portfolio, by value. ADTIM is an independent wholesale fibre network providing low density rural areas in the South of France with 18,300km of […]

Sectors
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