In QuotedData’s morning briefing 19 April 2022: Baker Steel Resources (BSRT) reports that its NAV total return for 2021 was 1.2%, behind the 5% return on its EMIX Global Mining benchmark. Although two core investments, Tungsten West and Silver X listed during the year, it did not monetise either of these investments and therefore did […]
Impact Healthcare REIT has recently exchanged contracts to acquire three purpose-built care homes in and around Glasgow. The homes are let to Silverline, which was already a tenant in the portfolio. The purchase price is £8.1m (plus transaction costs). The initial annual rent has been agreed at £627,750, reflecting an accretive gross initial yield of […]
RTW Venture Fund notes that LENZ Therapeutics has entered into an exclusive license agreement with Ji Xing Pharmaceuticals to develop and commercialize LNZ100 (aceclidine) and LNZ101 (aceclidine + brimonidine) for the treatment of presbyopia (the loss of reading vision due to age) in Greater China. RTW Investments, LP (the investment manager) has invested $10m on […]
UK Commercial Property REIT’s results for 2021 show the company generating an NAV return of 21.5% for the year (well up on 2020’s -0.9% following the effects of COVID). A 21.4% return on the portfolio was well ahead of the 16.8% return generated by the company’s MSCI benchmark. Returns were helped by much better rent […]
Fair Oaks Income has published results for the year ended 31 December 2021. On 19 April 2021, the company announced the result of its reorganisation proposal. 62,562,883 2017 shares had been elected for re-designation as realisation shares and 405,815,477 2017 shares were re-designated as 2021 Shares (86.6% of the 2017 shares in issue, including 650,000 […]
NextEnergy Solar Fund says that it is targeting a dividend of 7.52p for the financial year ended 31 March 2023, up 5% from the target for FY22 of 7.16p. The increase is higher than the rate of inflation over the course of 2021 (4.1%) and the biggest dividend increase announced by any of the UK-listed […]
In QuotedData’s morning briefing 14 April 2022: Jupiter Emerging and Frontier Income Trust’s (JEFI) board has looked at the candidates available for a rollover option and decided not to offer any of them. Shareholders will receive cash instead. A proposal to wind up the company will be put to a vote shortly – expect to […]
Octopus Renewables Infrastructure Trust has committed to invest up to €3.5m to set up and fund Nordic Renewables Limited, a new development platform focused on renewable energy assets in Finland. The investment is made alongside an equal amount from another fund managed by Octopus Renewables Limited. Nordic Renewables Limited will benefit from an exclusive joint […]
Digital 9 Infrastructure has signed a binding sale and purchase agreement for the acquisition of GAData Holdings Limited (trading as Volta Data Centres) for £45m. Volta wholly owns and operates a premier data centre facility based in central London, providing co-location services. The investment forms part of Digital 9’s metro edge data centre strategy of […]
In QuotedData’s morning briefing 13 April 2022: ICG Enterprise Trust notes that New Mountain Capital is merging Information Resources Inc., which the trust holds and invested $15m into in 2018, with The NPD Group, a global provider of market information and advisory services, with a client base of over 2,000 companies, in Hellman & Friedman’s […]
LucaNet AG has agreed a strategic investment from Hg. It hopes that this marks a key milestone in its ambition to become a global leader in corporate performance management software. Hg is taking a majority stake in the business. Existing shareholders Rolf-Jürgen Moll, Oliver Schmitz, and Dominik Duchon will maintain a substantial minority share. Mr. […]
In QuotedData’s morning briefing 12 April 2022: Diverse Income Trust is asking shareholders whether they want to take advantage of its annual share redemption facility. However, as the announcement points out, the discount is already narrow. Shareholders have until 3 May 2022 to submit redemption requests. Cash would hit accounts on 16 June or thereabouts. […]
In QuotedData’s morning briefing 11 April 2022: Foresight Solar (FSFL) has reached final approval for the portfolio refinance of the Oakey 1 Solar Farm (O1) and Longreach Solar Farm (LR) portfolios with ANZ and Deutsche Bank for a term facility of approximately A$59m plus a debt service reserve facility of approximately A$1m. The portfolio will […]
James Carthew, QuotedData’s Head of Investment Company Research, interviews Tom Williams of Downing Renewables and Infrastructure Trust (DORE). Watch the video to find out about DORE’s core sustainable objective, the reasons behind the fund’s focus on Northern Europe, the benefits of DORE in a high inflation environment as well as the dividend yields shareholders can […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana covered the week’s top stories: Fundraising HydrogenOne Capital Growth Supermarket Income REIT International Public Partnerships Portfolio updates Gresham House Energy Storage NextEnergy Solar Cordiant Global Agriculture Income This week’s interview […]
Open Door Investment Management give their views on the impact of the Russian invasion on China. 1. Do we need to worry about China’s strong ties to Russia? In many ways, Russia’s economy is a good fit for China’s, in that it is a huge supplier of many commodities that China needs. It could also […]
With everything else going on, it feels like the topic of ‘net-zero’ has been pushed down the agenda. However, with new legislation due to come through on the energy efficiency of commercial property, landlords may be sitting on a ticking time-bomb. The government has set a target of lifting the minimum energy performance certificate (EPC) […]
NextEnergy Solar Fund (NESF) has announced that it has commenced the construction of Whitecross, a 36MW, subsidy-free utility solar plant, located in Lincolnshire. The original construction date of the asset was pushed back from the second half of 2021 “due to material volatility in the solar PV module supply chain post covid which has since […]
In QuotedData’s morning briefing 8 April 2022: HydrogenOne Capital Growth (HGEN) has announced that its placing, which was previously announced on 4 April 2022, has raised gross proceeds of £21.5 million via the issue of 21,469,999 New Ordinary Shares at a price of 100 pence per New Ordinary Share. The Placing was well supported by new […]
Dunedin Income Growth has announced results for the year ended 31 January 2022. The NAV increased by 8.1% on a total return basis, underperforming the All-Share Index which produced a total return of 18.9%. The share price total return for the year was 12.5%. The chairman notes that “Large capitalisation companies whose share prices were […]
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 […]
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