In QuotedData’s morning briefing 25 September 2023: Round Hill Music (RHM) has announced the publication of a scheme document which outlines the actions required, timetable, and recommendations in respect of the purchase offer made for the trust. Shareholders will be given the opportunity to vote on the offer at a General Meeting to be held […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • HICL Infrastructure (0:25) • GCP Infrastructure/GCP Asset Backed Income (2:24) • HydrogenOne Capital Growth (7:46) • Nippon Active Value (12:00) • Pollen Street (13:22) […]
A milestone was passed very recently without much fanfare. 15 September 2023 marked the 15th anniversary of the collapse of Lehman Brothers, a vanquished titan of American finance, an event which precipitated the 2008 global financial crisis, the most significant downturn since the great depression of the 1930s. While the societal consequence of the crisis […]
European Opportunities Trust (EOT) has released its annual report for the financial year ending 31 May 2023. Over the 12 month period EOT reported a NAV total return of 3.3% and share price total return of 5.0%, this represents an underperformance versus its benchmark, the MSCI Europe Index, which returned 6.9%. This underperformance can be […]
Home REIT has reassigned the leases at 146 properties that had formerly been occupied by Redemption Project CIC, which went bust earlier this month. Home REIT will now hope to receive rent on the portfolio of properties (which equates to 6% of its portfolio by number) having not been paid by Redemption for the whole […]
In QuotedData’s morning briefing 21 September 2023: JPMorgan Global Core Real Assets (JARA) has provided a quarterly NAV valuation. As of 31 August 2023 the NAV per share of the trust was 95.37p per share, reflecting a negative total return of (2.0%) for the quarter and (8.0%) for the 12 month period. Gulf Investment Fund […]
City of London Investment Trust (CTY) announced its annual results for the period ended 30 June 2023. The company’s NAV total return for the period was 4.5%, which compares with a total return of 7.9% for the FTSE All-Share Index. Shares were flat for the year while dividends increased by 2.5%. The adviser noted that […]
Murray Income Trust (MUT) announced its annual results for the year ended June 30 2023 which also marked the 100th anniversary for the fund. NAV per share total return was +8.8%, ahead of the FTSE All-Share Index at +7.9% but the share price total return was +4.9% as the discount widened to 8.4% at the […]
Supermarket Income REIT (SUPR) announced its annual results for the year ended June 30 2023. The company saw resilient financial performance with strong income growth despite a 19% fall in EPRA net tangible assets (NTA) in the year to 30 June 2023. With dividends, this equates to a 16% fall in NAV for the year […]
KCR Residential REIT (KCR) announced its final results for the year ended 30 June 2023. NAV per share fell 1% over the course of the year. Revenue for the financial year increased by 23.01% (to £1.58 million up from £1.28 million in 2022) – largely underpinned by the ongoing performance of Coleherne Road and the […]
HydrogenOne Capital Growth (HGEN) has announced its half yearly report for the period ended June 30 2023. NAV increased by 3.4% from £125.4 million at 31 December 2022 to £129.7 million at 30 June 2023. The share price has declined by 19.7% in the same period. The company’s current discount sits at 47%. Despite the […]
GRIT Investment Trust (GRIT) has announced its results for the six months ended 30 June 2023. The company’s NAV fell 29% over the period while shares fell 51.8%. Commenting on the results, Chairman Richard Lockwood noted: “The last six months have seen a continued increase in interest rates and high inflation in the UK. The […]
In QuotedData’s morning briefing 20 September 2023: Foresight Solar (FSFL) announced the appointment of Lynn Cleary as an independent non-executive director with effect from 18 September 2023. Lynn spent 17 years as CFO and managing director of strategic programmes for The Royal Bank of Scotland International and is currently the president of the Jersey Bankers […]
JPMorgan Mid Cap Investment Trust (JMF) announced its half year results to June 30 2023. The NAV total return for the period was +7.5%, ahead of the benchmark FTSE 250 Index (excluding investment trusts) return of +3.0%. The company’s share price discount to NAV widened marginally over the year resulting in a share price total […]
Weiss Korea Opportunity Fund (WKOF) announced its half year results for the period ended 30 June 2023. The company’s share price return was flat over the 6 months while NAV return was -3.4%, trailing the reference MSCI South Korea 25/50 Net Total Return Index which appreciated by 6.7% in GBP. Chairman Krishna Shanmuganathan noted that […]
In QuotedData’s morning briefing September 19 2023: AEW UK REIT (AEWU) has appointed a new chairman designate. Robin Archibald, formerly head of corporate finance and broking at Winterflood Investment Trusts, has taken a non-executive director role and will be appointed chairman of the company at the 2024 AGM when current chairman Mark Burton will retire. […]
Separately, GCP Infrastructure (GCP) and GCP Asset Backed Income (GABI) have issued statements saying that a proposed combination of the two companies has been terminated. A significant shareholder consultation exercise was undertaken and both statements make reference to a divergence of views existing amongst shareholders of GABI as being the hurdle. GABI’s board has said […]
In QuotedData’s morning briefing for 18 September 2023: HICL Infrastructure (HICL) has announced that it has entered into an agreement to sell its investment in Bradford Schools PPPs for £37m. This sale represents an 8% premium to its valuation at 31 March 2023. The sale represents HICL’s entire stake in the entities, which are two […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Ediston Property (0:30) • Supermarket Income REIT (5:28) • ThomasLloyd Energy Impact (8:51) • Hipgnosis Songs Fund (13:34) This week’s interview was with Dean […]
From April 2020 to June 2022, the energy transition and the war in Ukraine combined to generate a significant surge in commodity prices. Since then, commodities have struggled, weighed down by the weakness of China’s economic recovery and mixed economic data across the globe. More recently, however, they have started to tick higher once again. […]
CQS New City High Yield (NCYF) has released its annual results for its finical year ending 30 June 2023. NCYF reported a NAV total return of 2.04% and a negative share price total return of (0.68%). The positive NAV total return can be attributed to NCYF’s dividend pay-outs over the year, with the chairman highlighting […]
ThomasLloyd Energy Impact’s (TLEI) board has announced that following the failed continuation vote, it will terminate its arrangement with its current investment manager on 31 October 2023. The board has begun the search for a transitional investment manager to replace the outgoing one, with the intention being that this will be the most effective way […]
In QuotedData’s morning briefing 15 September 2023: VH Global Sustainable Energy Opportunities (GSEO) has announced that it will implement at £10m share buyback program. The board remains aware of the impact of GSEO’s discount, and will undertake buybacks when it believes to be in the interest of shareholders. Blackstone Loan Financing (BGLF) has announced that […]
Hipgnosis Songs Fund (SONG) announced a number of proposals which it believes will act as a catalyst for a re-rating of the company’s share price. These include: Catalogue sales for aggregate gross consideration of $465 million; Share buy back programme of up to $180 million; Repayment of $250 million drawn under the company’s revolving credit facility (“RCF”); […]
LondonMetric Property has sold a portfolio of four multi-let industrial estates to Hines for £40.5m, reflecting a net initial yield of 6.2% and in line with March 2023 valuations. The estates total 435,000 sq ft across 47 units and generate £2.7m of annual rental income, with a WAULT to first break of 2.9 years. Three […]
VietNam Holding ( VNH) provided an update for the month ended August 2023, highlighting the ongoing performance of the region which has boosted returns of VNH, with shares up 22% YTD. Manager commentary – Vietnam’s moment in the sun Vietnam enjoyed further stock market gains and GDP growth in August, setting up a shiny backdrop […]
Ecofin US Renewables Infrastructure Trust (RNEW) announced its half year report for the year period ended June 30 2023. NAV return for the period was 0.3% while shares fell 24.7% which saw the discount widen to 29%. Commenting on the performance, chairman Patrick O’D Bourke noted that this has been a difficult first half for […]
Castelnau Group (CGL) announced the appointment of Richard Brown as non-executive director of the company and chief executive officer of Castelnau Group. A former investment banker, Richard has over 14 years of corporate finance experience. He has advised firms ranging from the largest FTSE 100 companies to private businesses, UK-focused as well as international. The […]
Henderson High Income (HHI) has published its interim results for the six months ended 30 June 2023 and, against what was a volatile period for financial markets, the trust provided a net asset value total return of 3.0%, outperforming its benchmark, which returned of 1.9%. HHI’s share price total return of 2.0% was marginally ahead […]
Atrato Onsite Energy (ROOF) has entered into a share purchase agreement to acquire a fully operational portfolio of rooftop solar PV assets with a total value of £77.3m. The 34MW portfolio, which is made up of solar PV systems situated on residential rooftops across the UK, benefits from feed-in-tariff (FIT) payments, payable directly to ROOF […]
