Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: PRS REIT (0:41) SEGRO / Tritax EuroBox (4:02) Balanced Commercial Property Trust (6:41) Artemis Alpha / Aurora (8:10) JPMorgan Core Real Assets (10:33) Digital 9 Infrastructure (11:51) Andrew McHattie covered: Major rises over the […]
I was recently asked about the outlook for listed private equity funds and whether it was likely to improve along with the more optimistic macroeconomic environment. Despite having a strong track record of achieving strong realisations and the private funds generally reporting good operational performance from their underlying holdings, the sector seems to struggle to […]
Digital 9 Infrastructure (DGI9) has published a company update including details of an unaudited portfolio valuation and updated net asset value and the news is not good – its board believes that “the aggregate portfolio valuation as at 30 June 2024 is likely to be materially below the latest published portfolio valuation as at 31 […]
In QuotedData’s morning briefing 6 September 2024: Triple Point Energy Transition (TENT) has declared a special dividend of 25p per share (£25m in aggregate), which is a distribution that is part of the managed wind-down approved by shareholders on 22 March 2024. TENT says this has been possible because of timely realisations to date. The […]
abrdn UK Smaller Companies Growth Trust has published results for the 12 months ended 30 June 2024. Over the year, the NAV total return was 18.1%, well ahead of the 10.0% return generated by its benchmark (the Deutsche Numis Smaller Companies, plus AIM, ex Investment Companies, Index). A narrowing discount meant that shareholders did even […]
On 25 July, JPMorgan European Discovery published details of a tender offer for 15% of its shares. Today, it has revealed that 81,976,778 shares were tendered, almost four times the maximum 21,160,028 shares that the company intends to buy back. As not everyone tendered, anyone who tendered 15% or less of their shareholding will get […]
Bluefield Solar reports the completion of Phase Two of its long-term strategic partnership with GLIL – the sale of a 50% stake in a 112MW portfolio of UK solar assets which had been 100% owned by Bluefield Solar. GLIL is a partnership of UK pension funds, investing into core UK infrastructure, including Local Pensions Partnership […]
Aquila European Renewables has entered into a sale and purchase agreement with Sunnhordland Kraftlag AS to sell its 25.9% interest in the Tesla wind farm for about €27.1m. Tesla is a 150 MW operating onshore wind farm located in Southern Norway, which was bought by Aquila European in 2019. The buyer is a Norwegian energy […]
In QuotedData’s morning briefing 5 September 2024: BioPharma Credit (BPCR) says it provided $132.925m of funding to Collegium Pharmaceutical to help fund its acquisition of Ironshore Therapeutics. BioPharma Credit already had exposure to Collegium through a $160.4m term loan. BioPharma Credit’s loans are part of a $645.8m senior secured loan funding package that was put […]
The board of Balanced Commercial Property Trust (BCPT) has recommended a cash offer for the company from Starwood Capital valuing the company at £673.5m. The cash offer, at 96p per BCPT share, represents a premium of 21.5% to its closing price of 79p per share as at 12 April – the last business day prior […]
SEGRO and Tritax EuroBox (EBOX) have announced that their boards have reached agreement on the terms of a recommended all-share offer by SEGRO for EBOX, under which EBOX shareholders will receive 0.0765 new SEGRO shares per EBOX share. Based on the closing price per SEGRO share of 880.0p as at 3 September 2024, the proposed […]
In QuotedData’s morning briefing 4 September 2024: Apax Global Alpha Limited (AGA), the closed-ended investment company providing access to the Apax Private Equity Funds, today announced that it expects to invest approximately €12m in Altus Fire & Life Safety on a look-through basis. On 3 September 2024, Apax XI, in which AGA is a limited […]
At its AGM today, shareholders in JPMorgan Global Core Real Assets (JARA) voted against a resolution for the fund to continue as an investment trust for another five years. This was not unexpected – the trust’s performance has been disappointing since its launch five years ago, while sentiment towards the sorts of assets in which […]
The results of the latest auction round (AR6) of government subsidies to support new renewable energy projects in the UK is in, and the news is good. Much better than last year’s effort. 3.3GW of new solar, 1GW of new onshore wind, 3.4GW of offshore wind, and 400MW of floating offshore wind have been announced, […]
In QuotedData’s morning briefing 3 September 2024: RM Infrastructure Income (RMII) announced a tender offer of up to £20m to be made to shareholders, together with a notice convening a general meeting of the company, to be held on 25 September 2024 at 12.00pm. Following shareholder approval of a new investment policy at a general […]
The webinar discusses the growing potential for Vietnam to participate in the global IT and semiconductor supply chain and features Nguyen Khai Hoan of FPT Corporation, Vietnam Holding’s largest portfolio holding.
Manchester and London (MNL) has announced a change in the structure of the fees it pays to its manager, M&L Capital Management Limited, under which there is a new tiered management fee replacing the current fee arrangements, which took effect from 1 September 2024. The new fee arrangements do not include any performance fee or […]
The board of PRS REIT (PRSR) has formed a sub-committee to engage with shareholders and lead its response to the requisition notice published last week calling for chairman Stephen Smith and director David Francis be replaced. The sub-committee comprises the three independent non-executive directors who are not the subject of the requisition, being: Geeta Nanda, […]
LondonMetric Property has acquired £70m of warehouses and sold £50m of non core assets. The £70m of acquisitions consist of seven warehouses with a WAULT of 15 years, acquired at a blended net initial yield of 5.8%, rising to a minimum of 6.1% over the next two years and 6.5% after five years, with 91% […]
Oakley Capital Investments (OCI) has announced that Oakley Capital Fund IV has reached an agreement to sell its stake in Ocean Technologies Group (OTG), an independent software provider to the maritime industry, to Lloyd’s Register. OCI says that the transaction was broadly in line with OTG’s carrying value as at 31 March 2024 and that […]
Grit Real Estate Income Group, the pan-African real estate company, has provided an update on its non-core asset disposal strategy and progress made on transactions. The company has agreed non-binding heads of terms to sell the Tamassa resort, a Mauritian hospitality asset, at an implied net initial yield of 6.5%. It is also in preliminary discussions […]
Artemis Alpha (ATS) and Aurora (ARR) have announced this morning that their boards have agreed heads of terms for a proposed combination of the two trusts. If approved by each company’s respective shareholders, the transaction will be effected by way of a scheme of reconstruction and winding up of Artemis Alpha with the associated transfer […]
Downing Renewables & Infrastructure (DORE) has committed to acquire three Swedish hydropower plants and their associated storage reservoirs. The combined expected annual average production is around 7 GWh, with a potential increase of 0.5 GWh after further upgrades have taken place. The total investment is expected to be around £5m. Once the transaction completes, DORE’s […]
In QuotedData’s morning briefing 2 September 2024: Premier Miton Global Renewables (PMGR) has announced a non-material change to its investment objective. It says that its Board has considered the Financial Conduct Authority’s Sustainability Disclosure Requirements (SDR) which come into force on 2 December 2024 and has confirmed that pursuant to the SDR’s voluntary labelling regime, […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: Renewables/infrastructure (0:39, 2:25) Octopus Renewables Infrastructure (1:18) ATS/INOV – Reaction engines (4:34) PRS REIT – Requisition request (5:58) This week’s interview was with James Harries from STS Global Income & Growth Trust – watch […]
The Vanguard LifeStrategy Funds are a cornerstone in the retail and financial advisory sectors. Collectively, these funds offer five passive investment strategies that blend global equity and global bond index funds in varying proportions. The allocations range from 100% equity exposure to 20% equity and 80% bonds, with each fund adjusting its weighting in 20% […]
PRS REIT (PRSR) has announced that it has received a letter dated 29 August 2024 from Harwood Capital Management Limited, Waverton Investment Management Limited, CCLA Investment Management Limited, Alder Investment Management Limited and CG Asset Management Limited (shareholders of PRSR that hold, in aggregate, 94,025,149 ordinary shares representing c.17.3% of issued share capital), requesting the […]
Chelverton UK Dividend Trust (SDV) has announced its annual results for the year to 30 April 2024, during which it provided an NAV total return of 1.72% in a period that its manager says was a continuation of the difficult environment for UK small & midcaps. The manager says that, despite the combined headwinds of […]
Murray Income (MUT) has announced that it has agreed a reduced and simplified investment management fee with its manager, abrdn Fund Managers Limited. With effect from 1 July 2024, the annual investment management fee is calculated as 0.35% of the company’s net assets up to £1.1bn and 0.25% of any net assets above £1.1bn. Previously, […]
In QuotedData’s morning briefing 30 August 2024: Artemis Alpha (ATS) has announced that it is today writing down its holding in Reaction Engines Limited by 75%. This is in addition to a write-down of 25% compared to the 30 April 2024 year-end valuation made on 19 July 2024. ATS says that, following these write downs, […]
