News

In QuotedData’s morning briefing 18 March 2022: NB Private Equity has announced that it has been informed by its Registrar, Link Group, that the Company’s dividend payment for shareholders who elected to receive a Sterling dividend on 28 February 2022 was incorrectly processed due to an administrative error. Reflecting this, Link Group will be distributing a […]

The board of Raven Property Group, the owner of warehouses in Russia, has proposed a de-listing of its shares after the war in Ukraine and subsequent sanctions on Russia “have made it impracticable for the business to continue in its current form”. The board has entered into an arrangement to allow it to divest itself […]

Renewables Infrastructure raising cash to invest in Hornsea One – The Renewables Infrastructure Group has exchanged contracts to acquire a 7.8% equity interest in the Hornsea One offshore wind farm in the UK from Global Infrastructure Partners. Following completion of the transaction, which is expected to take place at the end of H1 2022, Hornsea […]

Digital 9 makes a good start – Digital 9 Infrastructure has published its first set of results since its IPO in March 2021. It raised £300m then and expanded that by a further £450m over the course of the year. The year end NAV was 104.6p. The company also declared dividends totalling 4.5p (6p annualised), in […]

In QuotedData’s morning briefing 17 March 2022: Gulf Investment has published details of the 100% tender offer that it promised investors late last year. Shareholders will need to be on the share register at 5:30pm on 21 March and tender forms must be submitted by 1pm on 31 March. The fund will be valued as […]

CLS Holdings, the office landlord with assets in Germany, France and the UK, has posted a 1.5% uplift in NAV in full year results to the end of December 2021. Highlights EPRA net tangible assets (NTA) up 1.5% – primarily due to EPRA earnings and portfolio valuation gains, which were offset by foreign exchange losses […]

Fundsmith Emerging Equities benefits from India exposure but returns remain lacklustre – Fundsmith Emerging Equities (FEET) has posted its final results for the 12 months to 31 December 2021. During the period under review, the trust’s NAV per share total return was 3.8% compared to a fall of 1.4% in the Emerging and Frontier Markets […]

Tough year for Baillie Gifford Shin Nippon as ‘favourable environment stalled’ – Baillie Gifford Shin Nippon has published its full year results for the 12 months to 31 January 2022, during which time its NAV increased by 10.9% while its share price returned only 1.9%. This compares with a 10.4% increase from its comparative index […]

Witan more than doubles last year’s dividend thanks to revenue reserves – Witan (WTAN) has posted its final results for the year to 31 December 2021. During the period, the trust’s NAV increased by 15.8% while its share price total return was 11.9%. NAV uplift from share buybacks offset the majority of the company’s ongoing […]

In QuotedData’s morning briefing 16 March 2022: BH Macro (BHMG) has announced it may sell sterling shares at a price of 3,770 pence per share, reflecting a 5.9% premium to the estimated net asset value per share as at 11 March 2022 and a 8.9% premium to the monthly final net asset value per share […]

Modest gains for EP Global Opportunities in 2021 – EP Global Opportunities reports that its NAV total return for 2021 was 5.1% and its return to shareholders 4.6%. Revenue per share fell to 4.4p from 4.9p as the manager held onto cash. The fall in income underlying that was even greater as the calculation of […]

Wider discount mars an otherwise good year for ASCI – abrdn Smaller Companies Income (ASCI) had a good 2021, delivering an NAV return of 30.4%, well-ahead of the 21.9% return generated by the Numis Smaller Companies ex Investment Companies Index. Unfortunately, the discount widened from 10.3% to 15.3% and shareholders ended up with a return of […]

Smithson beat its benchmark in 2021 – Over the course of 2021, Smithson generated a return on NAV of 18.9% and a return to shareholders of 18.1%, both a little ahead of the 17.8% return on the trust’s benchmark, the MSCI World SMID (small and mid cap) Index. There is no dividend (the fund is not […]

In QuotedData’s morning briefing 15 March 2022: ThomasLloyd Energy Impact (TLEI) says that it has received formal approval by the Government of India for the purchase of a 43% economic interest in SolarArise India Projects Private Limited. The deal encompasses seven solar power projects in India with a total capacity of 434 MW. Completion of […]

JPMorgan Claverhouse makes 49th year of increasing annual dividend as chair retires – JPMorgan Claverhouse (JCH) has posted its annual financial report for the 12 months to 31 December 2021. During the period, the company’s net asset total return (based on debt being valued at par) was 21.5%, compared with a total return of 18.3% […]

Literacy Capital outperforms in 2021 while growth means more charitable donations – Literacy Capital (BOOK) has posted its results for the 12 months to 31 December 2021. During the period, its NAV increased by  94.1% while the share price closed the year at 295p, a 6.4% premium to net assets, and 84.4% higher than the […]

In QuotedData’s morning briefing 14 March 2022: Mid Wynd (MWY) has posted its half year results for the six months to 31 December 2021, during which time its NAV delivered a return of 10.5% while its share price total return was 11.9%. This compares with a 7.7% return from its benchmark. The board has proposed […]

ScotGems (SGEM) has announced its annual results for the year ended 31 December 2021. During the period, the trust’s NAV rose by 8.2%, yet its share price fell by 0.7%. The chairman, William Salomon, says that SGEM’s disappointing performance since launch, in both absolute and relative terms, can be attributed to the Managers’ cautious approach […]

In QuotedData’s morning briefing 11 March 2022: CQS Natural Resources Growth and Income (CYN) has announced its interim results for the six months ended 31 December 2021. CYN’s chairman, Richard Prickett says that, during the period, commodity markets were strong and interestingly for the sector higher interest rate expectations are supporting a broad market rotation […]

Oakley Capital has announced results for the year ended 31 December 2021 and they were good. An NAV return of 35% was surpassed by a share price return of 48%. There is a full-year dividend of 2.25p The trust made new investments totalling £137m against proceeds of £121m. This left it with cash at year-end […]

Female and ethnic minority entrepreneurs trust plans IPO – Funding Focus Investment Trust, an investment trust for female and under-represented entrepreneurs, announced today that it is in process of seeking approval of a prospectus from the FCA with a view to launching an offer for subscription.The trust would offer investors access to businesses it has […]

Secure Income REIT said it expects significant earnings growth this year due to rising inflation forecasts, after reporting an 11.8% uplift in EPRA net tangible assets (NTA) in full year results to 31 December 2021. The group, which invests in property with long index-linked leases mainly in the healthcare, hotel and leisure sectors, said its […]

Cash pile holds back returns at LMS Capital – LMS Capital says that, over the course of 2021 its NAV return was just 4.0%. The portfolio rose in value by £3.8m of which £2.6m (an 11.6% return) was from net realised and unrealised gains on the trust’s mature (pre 2012) asset portfolio and £1.2m (an 18.5% return) […]

F&C cuts fees and ups dividend – F&C Investment Trust beat its benchmark over 2021, delivering an NAV return of 21.7% against 19.5% for the All-World index. The share price lagged the NAV a little and delivered a return to shareholders of 19.4%. The company’s private equity holdings did well as did its investments in listed […]

New US investment and revised management agreement at Gore Street – Gore Street Energy Storage is buying a portfolio of eight energy storage assets in Texas from Perfect Power Solutions Texas, LLC. The portfolio consists of eight 9.9 MW storage projects totalling 79.2 MW. Three of the projects – which are each 2-hour duration / […]

In QuotedData’s morning briefing 10 March 2022: ScotGems (SGEM) says that yesterday, it received notice to terminate the investment management agreement from its manager, First Sentier Investors (UK) Funds Limited. The termination will not take effect until a replacement manager is appointed, subject to a maximum period of six months from today’s date. The board […]