Spanish retail landlord Lar España reported solid half year results for the six months to 30 June 2023, with revenue up 16.4% to €48.9m. Sales and footfall from its shopping centres and retail parks continue to grow, with sales reaching €505.1m (7.5% up on the same period in 2022 and 16.1% up on pre-COVID 2019 […]
On 11 July 2023, ThomasLloyd Energy Impact received a requisition on behlf of ThomasLloyd Cleantech Infrastructure Fund SICAV and ThomasLloyd SICAV – Energy Impact Credit Fund. It asks that the three resolutions which were not voted on at the AGM on 30 June 2023, including the continuation vote, be put before shareholders. The company is […]
Chrysalis Investments says that as at 30 June 2023, its unaudited NAV was 136.86 pence. That represents a 6.84p per share or 5.3% increase since 31 March 2023. Movement in the fair value of the portfolio accounted for an uplift of approximately 9.28p, offset by an adverse foreign exchange movement of approximately 2.20p – as […]
BioPharma Credit’s manager Pharmakon Advisors notes the announcement released Friday 28 July by Biogen Inc. regarding its definitive agreement to buy Reata Pharmaceuticals Inc. The purchase price equates to an enterprise value of approximately US$7.3bn. Biogen and Reata currently anticipate that this transaction will close in the fourth quarter of 2023. On 11 May 2023, […]
Octopus Renewables Infrastructure has agreed to invest up to £2m to set up and fund a new development business, focused on creating new ground-mounted solar PV and co-located battery storage assets in the UK. The trust will own 100% of the new company, which will benefit from exclusive development services from BLC Energy Limited (BLCe). […]
In QuotedData’s morning briefing 31 July 2023: RM Infrastructure Income (RMII) says that, since its last update on 10 July 2023, the board has received an additional [merger] proposal under s110 of the Insolvency Act 1986 which is under consideration alongside one other proposal highlighted in the 10 July 2023 announcement, however at this time […]
In light of our upcoming investment trust forum on the 5th of October, I thought I would take this opportunity to look at one of our panel discussion topics. As the title suggests, it focuses on what the future might look like for renewable energy investments. The bulk of the exposure to this theme is […]
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: • abrdn Smaller Companies Income/Shire (1:08) • Ecofin US Renewables (7:31) • Henderson Diversified Income (11:52) This week’s interview was with Uzo Ekwue & Pav […]
Scandal-hit Home REIT is proposing changes to its investment policy as it looks to stabilise its business following the appointment of AEW as investment manager. The changes will be put to shareholders at a general meeting on 21 August. A summary of the changes Introduction of a stabilisation period A stabilisation period will commence on […]
GCP Infrastructure Investments (GCP) announced its quarterly results to June 30, 2023. NAV fell 2.2% due to increases in discount rates which reflect the current higher inflation and base rate environment, and recent market transactions that suggest the rising cost of debt has started to impact equity pricing. This has resulted in a c.40bps increase […]
Alliance Trust (ATST) has announced its interm results for the the six months ended 30 June 2023. The company’s NAV total return was 11.1%, significantly outperforming its benchmark index, the MSCI All Country World Index which returned 7.8%. Total shareholder return was 7.6%, due to a widening of the discount, although at -7.2% this was […]
Law Debenture (LWDB) published its results for the half-year ended 30 June 2023. NAV total return for H1 2023 delivered a modest outperformance of 4.0% compared to its benchmark, the FTSE All-Share Index, which returned 2.6%. The company’s profit before tax was up by 8.5% and valuation up 4.4% to £210m (compared to 30 December […]
MIGO Opportunities Trust has appointed Asset Value Investors Limited (AVI) to become its AIFM and investment manager. It will continue to implement MIGO’s existing investment objective and policy. The decision follows detailed shareholder engagement and a rigorous selection process, as part of the board’s manager review announced in March. AVI is an experienced manager of […]
Taylor Maritime (TMI) results are out for the 12 months ended 31 March 2023. The company’s NAV return was 4.7%. Some highlights: Dividends of 10.97 cents were declared in the year ended 31 March 2023 (31 March 2022: 3.50 cents). In addition, the company declared an interim dividend on 27 April 2023 of 2 cents […]
Ecofin US Renewables (RNEW) confirms that following the 21 June 2023 tornado in Matador, Texas, its 59.8MW Whirlwind Energy wind farm in Floydada, Texas, remains temporarily offline. As previously communicated, the tornado left the Whirlwind asset itself unharmed and affected only five project-owned transmission poles at the far end of Whirlwind’s transmission line along with the […]
In QuotedData’s morning briefing 27 July 2023: AVI Global Trust (AGT) has completed an agreement to issue JPY4.5bn (£25m) of fixed rate unsecured debt, for a term of ten years. The annual interest rate on the debt is 1.44%. The company is about 4% geared currently. Greencoat UK Wind’s (UKW) NAV dropped from 167.1p to […]
Oakley Capital has released it 6-month trading update for the period ending 30 June 2023. Over the period Oakley reported a NAV total return of 0.5% and share price return of 5.3%. OCI’s returns reflect a cautious approach by its team to the outlook and valuations of their holdings, as well a 3% currency loss […]
NextEnergy Solar has today published its latest sustainability and ESG report, which you can read here. This report builds on NESF’s first sustainability and ESG report published in 2022 and illustrates the breadth and depth of actions that the company has taken across the three pillars that comprise its approach to sustainability and ESG – […]
Invesco Asia Trust (IAT) has release its annual results for the period ending 30 April 2023 IAT reported a NAV total return of 1.2% and share price total return of 1.2%, compared to the -6.0% return of its benchmark, the MSCI AC Asia ex Japan Index. IAT’s outperformance primarily came from stock selection, with noteworthy […]
Grit Real Estate Income Group has concluded the final phase in the acquisition of controlling interests in developer Gateway Real Estate Africa (GREA) and asset manager APDM. Grit now owns a direct interest of 51.48% in GREA and a 78.95% shareholding in APDM, following the acquisition of stakes owned by Gateway Partners and Prudential. The […]
As a result of its strategic review, launched on 13 February 2023, abrdn Smaller Companies Trust (ASCI) has proposed that it combine with Shires Income (SHRS). The merger will also see ASI’s revenue reserve paid out as a pre-liquidation dividend. ASCI’s shareholders will have an option to either roll into SHRS or take a cash […]
QuotedData’s morning briefing 26 July 2023 Primary Health Properties (PHP) reported a 1.3% fall in NAV to 111.1p per share for the six months to 30 June 2023. The group’s portfolio of GP surgeries and health centres was valued at £2.783bn at 30 June 2023, down 0.4% over the period (31 December 2022: £2.796bn) reflecting […]
Student housing provider Unite Group has raised £300m in a placing. A total of 32,693,930 new ordinary shares were placed with institutional investors at a price of 905p, raising £296m. Retail investors subscribed via the PrimaryBid platform for a total of 441,989 new ordinary shares, raising £4m. The issue price of 905p represents a discount of […]
Henderson Diversified Income (HDIV) released its annual results for the year ended 30 April 2023. NAV total return was down 4% for the year, underperforming its benchmark by 3.7%. Shares fared slightly better, down 1% for the year. It has been a year of two halves for the company with NAV falling by 10.4% through […]
abrdn Diversified Income and Growth (ADIG) has provided an update on its recently announced strategic review, informing shareholders that the decision regarding the funds future is ongoing. The board did note that they were suspending the company’s share buyback policy in the light of the ongoing review process. [QD Comment: This continues to be a […]
In QuotedData’s morning briefing 24 July 2023: Alliance Trust (ATST) has added a new stock picker to its roster, bringing the total to 10. ATST’s investment manager Willis Towers Watson has appointed Dalton Investments, a value-focused Japanese specialist, which will receive 4% of ATST’s capital. Craig Baker, chairman of WTW’s investment committee, said: “Following extensive […]
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: • abrdn New Dawn/Asia Dragon (0:27) • Digital9 Infrastructure (7:44) This week’s interview was with Ian Lance from Temple Bar – watch it again here.
We have previously espoused the notion that the widespread discounts in the unlisted investment trust sectors are often unjustified. It is certainly true that many viable investment strategies are trading on ever wider discounts, if not their historically widest levels, with investors for example selling down their holdings out of fear of valuations cuts, or […]
abrdn New Dawn Investment Trust (ABD) has announced that it has agreed to terms with the board of Asia Dragon Trust in respect of a proposed combination of the two trusts. The combination, if approved by each company’s shareholders, will be effected by way of a scheme of reconstruction and winding up of abrdn New Dawn […]
Riverstone Credit Opportunities Income (RCOI) provided an update for the quarter ended 30 June 2023. NAV rose 1.4% for the period principally due to continued strong performance by the company’s unrealised portfolio and the successful refinancing and amendment of its investment in Streamline Innovations Inc. The company continues to be a beneficiary of the current […]
