2021 was a difficult year for small cap biotech and this shows in RTW Venture’s results. Over the course of the year, the NAV fell by 13% and the share price by 5%. That compares to a 1% return on the NASDAQ Biotech Index and a -27% return on the Russell 2000 Biotech Index (which […]
Over the course of 2021, BBGI Global Infrastructure’s NAV increased from 137.8p to 140.7p and it declared dividends totalling 7.33p, in line with its target. The company has set out dividend targets for the next three years – 7.48p for 2022, rising to 7.63p in 2023 and 7.78p in 2024. It is 10 years since […]
2021 was a great year for Nippon Active Value. It generated a total return on net assets of 22.3%, well ahead of the -1.4% return posted by the MSCI Japan Small Cap Index. A narrower discount meant that shareholders got a return of 26.8%. There is a dividend of 1.95p – up from 0.85p – […]
In QuotedData’s morning briefing 31 March 2022: HICL Infrastructure plans to sell its 100% interest in the Queen Alexandra Hospital PFI Project to InfraRed European Infrastructure Income Fund 4. HICL would get £108m and a 1.5p increase in its NAV. The hospital has over 7,200 staff and 1,200 beds, that serves over 675,00 residents across […]
Phoenix Spree Deutschland, the Berlin residential landlord, has reported a 7.0% uplift in NAV in annual results, helped by an end to the Mietendeckel (rent control policy) in the German capital. EPRA net tangible asset (NTA) per share was €5.65 at the end of December 2021, up from €5.28 a year prior. This was largely […]
Pershing Square Holdings enjoys strong performance thanks to Universal Music Group – Pershing Square Holdings (PSH) has posted its final results for the year to 31 December 2021. During the year, its NAV return including dividends was 26.9%, ending the year at $57.30 per share. Meanwhile, PSH’s total shareholder return was 18.6% over the same […]
In QuotedData’s morning briefing 30 March 2022: Taylor Maritime (TMI) has agreed to sell a 2004 built Handysize vessel for $11.6m. The vessel was an IPO seed asset and the sale is expected to complete in Q2 2022, generating an IRR in excess of 200% and MOIC of 1.6x. It is the oldest vessel in […]
Impact Healthcare REIT, the UK care home investor, has reported strong annual results, posting a net asset value (NAV) total return of 8.4%. NAV per share increased 2.6% (growth of 2.85p per share) in the year to 31 December 2021 to 112.43p and with dividends paid in the year of 6.41p per share resulted in […]
Regional REIT, the UK office investor, says the regional office market is primed for growth in annual results to 31 December 2021. The group said it had seen an increase in demand from tenants for greater customer care, space that encourages collaboration, and a focus on health and well-being, as businesses return to the office. […]
The Schiehallion Fund has published results for the year ended 31 January 2022. The ordinary share price and net asset value per ordinary share returned 17.8% and 7.6%, respectively. From their admission to trading on 26 April 2021 to 31 January 2022, the C share price and net asset value return was -4.8% and -2.0%, […]
Gore Street looking for £75m – Gore Street Energy Storage is proposing to raise £75m by issuing 68,181,818 new shares at a price of 110p per share by way of an initial placing, initial offer for subscription and initial intermediaries offer. The initial issue could be upscaled subject to demand and the board’s discretion. The issue […]
Hidroelectrica IPO going ahead – great news for Fondul – On 28 March 2022, the Ministry of Energy in Romania, the majority shareholder of S.P.E.E.H. Hidroelectrica S.A., confirmed its agreement to hold a shareholders’ meeting of the company to approve the initiation of the listing of the company’s shares on the Bucharest Stock Exchange following […]
In QuotedData’s morning briefing 29 March 2022 Pershing Square (PSH) is to start paying an enhanced dividend; beginning with the second quarter dividend and for the remainder of the calendar year 2022, the company will increase its quarterly dividend by 25% to $0.125 per share. The intended policy in future years will be to pay […]
Ross Teverson departs Jupiter as fund edges towards oblivion – On 8 March 2022, Jupiter Emerging & Frontier Markets announced its intention to put forward proposals for a members’ voluntary liquidation of the company. The board says that it is working on formal proposals to put to shareholders in the coming weeks. It also says that […]
Urban Logistics REIT (SHED) has acquired four new assets for £72m, including its first central London property, at a blended net initial yield (NIY) of 4.6%. The group said all the assets are income producing and benefit from strong covenants, but also come with significant asset management potential. Following these transactions, the company has deployed […]
Fidelity Japan to seek shareholder approval to invest in more unlisted companies – Fidelity Japan (FJV) has posted its final results for the year to 31 December 2021. During this time, its NAV per share increased by 1.8% in sterling terms and the share price rose by 3.9%. In comparison, the Reference Index returned 2.0%. […]
abrdn Asian Income enjoys strong performance over 2021 as it prepares for upcoming challenges – abrdn Asian Income (AAIF) has posted its final results for the year to 31 December 2021, during which time, on a total return basis, the net asset value per share rose by 11.0%, surpassing the MSCI All Countries Asia Pacific […]
Octopus Renewables Infrastructure chair warns ‘new renewable generation is urgent as ever’ – Octopus Renewables Infrastructure (ORIT) has published its final results for the year to 31 December 2021. During the period, its NAV per share increased from 98.3p to 102.3p. In combination with the dividends paid during the year this gave rise to a NAV […]
Double investment for Pantheon Infrastructure – Pantheon Infrastructure (PINT) has agreed to invest approximately £40m alongside a Macquarie Asset Management-led consortium, which has agreed to acquire a 60% stake in the UK gas transmission and metering business of National Grid. The business owns and operates the UK’s regulated national gas transmission system and an independent gas […]
In QuotedData’s morning briefing 28 March 2022: JPMorgan UK Smaller Companies (JMI) has posted its interim results for the six months to 31 January 2022. During the period under review, the trust delivered a negative return of 12.2% in share price terms and a NAV return of -9%. This was behind the Numis Smaller Companies plus […]
Scottish Mortgage deputy fund manager Lawrence Burns explains how access to the brightest minds in entrepreneurship and academia allows him and his team to invest in the leading companies of the future. “Academics don’t think on a one to two-year horizon. They think on a 10-year horizon, they think on a multidecade horizon and that […]
This week (Wednesday 23 March, to be precise) marked two years since the first lockdown was implemented in the UK in response to the COVID-19 pandemic. It feels like a long time ago yet also as if it were just yesterday. Our perception of time is one of the many things that the pandemic has […]
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: • Aberdeen New India/India Capital Growth • Greencoat Renewables • Rockwood Realisation This week’s interview was with Blake Hutchins of Troy Income & Growth. – […]
Triple Point Social Housing REIT reported a modest NAV increase of 1.7% in the year to 31 December 2021. Highlights of the results are: EPRA Net Tangible Assets (equal to IFRS net asset value) per share of 108.27 pence (2020: 106.42 pence), an increase of 1.7% Portfolio independently valued at £642.0m (2020: £571.5m) The portfolio’s […]
Hibernia REIT has agreed a deal with Brookfield, the North American private equity giant, on the sale of the business for around €1.089bn. Under the terms of the cash offer made by Benedict Real Estate Bidco Limited (a subsidiary of one of Brookfield’s real estate private funds), Hibernia REIT shareholders would be entitled to receive […]
BMO Private Equity Trust (BPET) has announced its annual results for the year ended 31 December 2021. During the year, BPET provided an NAV total return of 35.8%, which it says compares against a total return from the All-Share Index for 2021 of 18.3 per cent. During the year, BPET’s share price discount to NAV […]
Aquila European Renewables Income (AERS) has announced that it has entered into an agreement to acquire 100% of a 100 MWp solar PV portfolio, otherwise referred to as the Greco portfolio, which is currently under construction in Andalucía, southern Spain. Upon Project completion, Greco will increase AERS’s total portfolio generation capacity by 30% to 432 […]
In QuotedData’s morning briefing 25 March 2022: Strategic Equity Capital (SEC) has published its interim results for the six months ended 31 December 2021. During the period, SEC’s NAV per share (on a total return basis) increased by 1.9%, while its Small Cap (ex Investment Trusts) Total Return benchmark, which is used for comparison purposes […]
Foresight Sustainable Forestry fully invested – Foresight Sustainable Forestry Company has bought two afforestation sites, Burn of Bellyhack and Red Craig & Glen Burn. The sites are both located in Aberdeenshire, Scotland, and have a total area of 359 hectares, increasing the total area of the portfolio to 8,474 hectares. The pair of properties were acquired […]
New conditional tender for Aberdeen New India – The board of Aberdeen New India Investment Trust intends to introduce a five-yearly performance-related conditional tender offer. The board is concerned about the relative underperformance of the NAV over shorter term time periods compared to its benchmark, the MSCI India Index. Following discussions with the investment manager, the […]
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