Supermarket Income REIT has announced its intention to raise £175m through a placing. The issue price of 121p is a discount of 4.3% to last night’s closing price of 126.5p and a 7.1% premium to its last reported EPRA NTA of 113p on 31 December 2021. The company’s investment adviser, Atrato Capital, has identified a near-term […]
Rockwood Realisation, free from the influence of Gresham House, now plans to halt the realisation process and return to making strategic investments in smaller UK companies. Richard Staveley, who managed the portfolio for a while at Gresham, will take on responsibility for the new strategy, he’ll be advised by Christopher Mills, manager of North Atlantic […]
North American Income Trust reports an NAV total return per share of 25.7% for the 12 months ended 31 January 2022. It just failed to match the 26.3% total return for the Russell 1000 Value Index. The chairman says that this was attributable mainly to overall positioning in the technology sector and stock selection in […]
Merchants Trust has published results covering the 12 months ended 31 January 2022. The NAV total return for the period was 35.7%, comfortably ahead of the benchmark All-Share Index return of 18.9%. As economies recovered from the effects of COVID, revenue earnings per share for the year were up 38.4% over the corresponding period last […]
The independent directors of The Lindsell Train Investment Trust have decided to change the way that the trust values its stake in the management company. It will apply to monthly valuations starting on 31 March 2022. The board is aiming to capture the changing economics and prospects for the asset management business. It is designed […]
In QuotedData’s morning briefing 7 April 2022: Augmentum Fintech (AUGM) is getting a boost from a series C financing round for Grover (a Berlin-based consumer tech platform). Grover has raised $330m in equity and debt. Augmentum will write up the value of its stake by £24.1m (more than double – Augmentum first invested in Grover […]
Palace Capital said it was set to up its dividend following good performance, but added that it was considering a range of strategic options, including returning capital to shareholders, as it looks to close its discount to net asset value (NAV). The group added an additional £1.9m of annualised net rental income during the year […]
Baillie Gifford China Growth discusses ‘biggest regulatory reset in a decade’ in dismal year – Baillie Gifford China Growth (BGCG) has posted its preliminary results for the year to 31 January 2022. During the period, the trust’s NAV total return was -27.0% and the share price total return was -37.1%, compared with a total return […]
Gresham House Energy Storage mulls international opportunities as it seeks approval to change investment policy – Gresham House Energy Storage (GRID) has published its full-year results for the 12 months to 31 December 2021. During the period under review the trust achieved a NAV total return of 20.3% and a share price total return of […]
Mercantile dips into revenue reserves to increase dividend – Mercantile (MRC) has posted its final results for the year ended 31 January 2022. During the period under review, the trust’s net asset total return, based on debt being valued at fair was 15.3%. With the debt valued at par, the return was 13.2%. Over the […]
In QuotedData’s morning briefing 6 April 2022: Following the announcement of the preliminary results of its 2022 exchange facility last month, Third Point Investors (TPIL) will return from escrow approximately 50% of TPIL Shares to validly electing shareholders, leaving a small reserve to be held until the finalisation of the 31 March 2022 NAV in […]
Impax Environmental Markets has published results covering the 12 months ended 31 December 2021. Over the year the trust generated an NAV return of 21.3% and a return to shareholders of 30.1%, both well-ahead of the MSCI AC World Index and the Environmental Technology 100 Index – up 19.6% and 13.1%, respectively. This reflects a […]
In QuotedData’s morning briefing 5 April 2022: Digital 9 Infrastructure (DGI9) has completed the acquisition of Leeson Telecom (Host Ireland), a leading enterprise broadband provider in Greater Dublin. The purchase price was about €60m. Host Ireland owns and operates the highest capacity licensed microwave-based Fixed Wireless Access network in Greater Dublin. It provides high quality, […]
BB Biotech (SWX:BION) showed a resilient investment performance in an extremely difficult period for biotech in the first quarter this year, although its NAV, share price and long standing premium have all clearly come under pressure. The Swiss investment company closed the first quarter of 2022 with its shares trading at CHF65.4, down by 10.3%, […]
HydrogenOne Capital Growth announces placing to fund immediate £45m pipeline – HydrogenOne Capital Growth (HGEN) has announced a placing of new ordinary shares in the company at a price of 100 pence per share, representing an attractive discount to the prevailing share price and a premium to the latest NAV per share as at 31 […]
Schroder Asian Total Return outperforms during tough 2021 – Schroder Asian Total Return (ATR) has published its final results for the year to 31 December 2021. During the period under review, its NAV returned 7.4% while its share price returned 4.9%. This compares with a -2.0% return from the reference index. ATR also outperformed the […]
In QuotedData’s morning briefing 4 April 2022: Following the announcement in October 2021 that it plans to become a self-managed trust, the board of EP Global Opportunities (EPG) has agreed to an interim transfer of the company’s investment management responsibilities pending approval to become its own AIFM, which it hopes will be granted in a […]
It’s that time of year where we see a flurry of annual and interim results hitting the market for companies whose reporting periods finish on 31 December. Even in a quiet year, it is quite possible for interesting stories to get lost in this first quarter deluge, but once you factor in the additional market […]
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: •Octopus Renewables •Fidelity Japan •Pershing Square This week’s interview was with Ian Lance from Temple Bar Investment Trust – watch it again here.
Ben Rogoff, Fund Manager, Polar Capital Technology Trust The term ‘metaverse’ exploded into popular consciousness last November, when Mark Zuckerberg rebranded Facebook as Meta; thereby making a very public declaration that he was pinning the company’s future on this concept, which is still widely debated in terms of its definition and use. Watch Ben Rogoff […]
Henderson High Income (HHI) has announced its annual results for the year ended 31 December 2021, during which it provided NAV and share price total returns of 19.8% and 27.9% respectively, exceeding the total return of its benchmark (a composite that is 80% All-Share and 20% the ICE BofAML Sterling Non-Gilts Index rebalanced annually), which […]
International Public Partnerships (INPP) has announced that it has reached financial close on Stage 3 of the Gold Coast Light Rail project. This follow-on investment has arisen through the Company’s existing 30% interest in the Project. The Project extends the existing Gold Coast Light Rail network (known as G:link) a further 6.7 kilometres south from […]
The renewables Infrastructure Group (TRIG) has announced that it has acquired a 49% equity interest in Project Valdesolar, an operating solar park in the province of Badajoz, Spain, from Repsol (a Spanish-listed global energy company). Valdesolar represents approximately 3% of TRIG’s portfolio, by value and, following this acquisition, Spain represents 8% and solar photovoltaic (PV) […]
Greencoat Renewables (GRP) has announced that its placing, which was launched on 21 March 2022, was oversubscribed and has raised gross proceeds of €281.5m. Due to substantial demand, 251,351,351 placing shares will be issued at the placing price of €1.12 per share. This will utilise the remaining capacity of GRP’s 400m share issuance programme. The […]
BlackRock Latin American (BRLA) has published its annual results for the year ended 31 December 2021, during which BRLA’s NAV fell by 12.5% (in US$ and total return terms), underperforming its benchmark, which fell by 8.1%. In sterling total return terms, BRLA’s NAV fell by 11.7% over the same period, while its benchmark fell by […]
Corporation Financiere EuropeenneSA (CFE) has provided a final offer update on its cash offer for CIP Merchant Capital (CIP); an offer that CIP’s board has previously rejected, having described it as “Highly opportunistic” – click here to read our article from 23 March 2022 which covered the rebuttal of this final offer. Separately, CIP’s board […]
Triple Point Energy Efficiency Infrastructure (TEEC) has announced that it has signed contracts to provide a debt facility to a subsidiary of Virmati Energy Ltd (trading as “Field”), for the purposes of building a portfolio of four geographically diverse Battery Energy Storage System (BESS) assets in the UK. The total facility amounts to £45.6m and […]
In QuotedData’s morning briefing 1 April 2022: Syncona (SYNC) has provided an update on investee company Freeline, following the publication of Freeline’s full year 2021 financial results. The update highlights that: Phase 1/2 programs on track in Hemophilia B and Gaucher disease and accelerated in Fabry disease Extended financial runway and streamlined organization support Company […]
BH Macro – eventful and dull at the same time – BH Macro’s chair says that “To say that last year was an eventful year for BH Macro Limited would be an understatement, both for long-term shareholders in BH Macro Limited and for shareholders in the former BH Global Limited.” The merger of the two […]
Invesco Bond Income Plus publishes first results – In May 2021 the shareholders of both City Merchants High Yield Trust Limited (CMHY) and Invesco Enhanced Income Limited (IPE) voted in favour of a proposal to merge the two companies. The company has just published its first results as a combined entity. The shares returned 4.2% […]
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