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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

15 Mar 2022

Modest gains for EP Global Opportunities in 2021

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 […]

Sectors
15 Mar 2022

Wider discount mars an otherwise good year for ASCI

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 […]

15 Mar 2022
New investment trust Smithson raises £822m

Smithson beat its benchmark in 2021

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 […]

Sectors
15 Mar 2022

QuotedData’s morning briefing 15 March 2022

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 […]

14 Mar 2022
JPMorgan Japanese outperforms the benchmark for the year

JPMorgan Claverhouse makes 49th year of increasing annual dividend as chair retires

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% […]

14 Mar 2022
Literacy Capital : Book

Literacy Capital outperforms in 2021 while growth means more charitable donations

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 […]

14 Mar 2022

QuotedData’s morning briefing 14 March 2022

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 […]

Sectors
11 Mar 2022

QuotedData’s weekly news show 11th March 2022

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: •Jupiter Emerging & Frontier Income •ScotGems •AllianzTechnology This week’s interview was with James Harries of Securities Trust of Scotland – watch it again here.

Sectors
Companies
11 Mar 2022
QD view - Is property still a good hedge against inflation?

QD view – Cushion the inflation blow

Property has traditionally been a good inflation hedge, with rental uplifts usually coming in line with inflation. With inflation forecast to hit around 8% next month (and who knows what later in the year) it seems clear that this will not be the case this time. Leases with inflation protection built-in typically come with a […]

Sectors
Companies
11 Mar 2022

Further disappointment and Russian surprise for ScotGems

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 […]

Sectors
11 Mar 2022

QuotedData’s morning briefing 11 March 2022

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 […]

Sectors
Companies
10 Mar 2022

Oakley had a great 2021

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 […]

10 Mar 2022

Female and ethnic minority entrepreneurs trust plans IPO

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 […]

Sectors
10 Mar 2022

Secure Income REIT expects boost to income due to rising inflation

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 […]

Sectors
10 Mar 2022

Cash pile holds back returns at LMS Capital

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) […]

10 Mar 2022

F&C cuts fees and ups dividend

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 […]

Sectors
10 Mar 2022

New US investment and revised management agreement at Gore Street

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 / […]

10 Mar 2022
ScotGems reports losses in year-end results

QuotedData’s morning briefing 10 March 2022

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 […]

Companies
09 Mar 2022

Jupiter Emerging and Frontier Income considers scheme of reconstruction

Jupiter Emerging and Frontier Income considers scheme of reconstruction – Further to its announcement on 24 February 2022, the board of Jupiter Emerging and Frontier Income (JEFI) has concluded that it would be in its best interests and those of its shareholders as a whole to put forward proposals for the members’ voluntary liquidation of […]

Sectors
09 Mar 2022
battery stoage

Foresight Solar achieves strong performance following its first battery storage investment

Foresight Solar achieves strong performance following its first battery storage investment – Foresight Solar (FSFL) has posted its full-year results for the 12 months to 31 December 2021. During the period under review, its NAV increased to £660.0m, driven by strong UK power prices, above budget inflation and a reduction in discount rates, resulting in […]

09 Mar 2022
PMGR

Premier Miton Global Renewables soars above new benchmark

Premier Miton Global Renewables soars above new benchmark – Premier Miton Global Renewables (PMGR) has posted its full year results for the 12 months to 31 December 2021. During this time, the trust achieved a share price total return of 30.7% and a NAV total return of 26.5%. Total return performance, including income and costs, […]

Sectors
09 Mar 2022

QuotedData’s morning briefing 9 March 2022

In QuotedData’s morning briefing 9 March 2022: Taylor Maritime (TMI), has agreed to sell one 2006 built Handysize vessel and one 2011 built Supramax vessel for a combined $33.3m of proceeds, realising a premium to the Fair Market Values included in the NAV reported as at 31 December 2021. The transactions represent IRRs in excess […]

08 Mar 2022

BioPharma Credit backs UroGen Pharma

BioPharma Credit backs UroGen Pharma – BioPharma Credit has together with BioPharma Credit Investments V (Master) LP entered into a definitive loan agreement with respect to a senior secured loan to UroGen Pharma, Inc., guaranteed by its parent, UroGen Pharma Ltd. BioPharma Credit will invest up to $50.0m and BioPharma-V will invest up to an […]

Sectors
08 Mar 2022

Allianz Technology announces results as Walter Price prepares to stand down

Allianz Technology announces results as Walter Price prepares to stand down – Allianz Technology reports that, over the year ended 31 December 2021, the NAV return was 19.4% and the shareholder return 18.7%, whilst the benchmark Dow Jones World Technology Index (sterling adjusted, total return) increased by 28.2%. As usual, there is no dividend. Mike Seidenberg will […]

Sectors
08 Mar 2022

2021 worked out well for BlackRock World Mining

2021 worked out well for BlackRock World Mining – BlackRock World Mining has published its results for the year ended 31 December 2021 and they are good. The NAV total return for the period was 20.7% and the share price return 17.5% against a return of 15.1% on its benchmark index (the MSCI ACWI Metals & […]

Sectors
08 Mar 2022
Triple Point Social Housing

Triple Point Social Housing REIT to amend investment policy

Triple Point Social Housing REIT has proposed making changes to its investment policy and investment restrictions. In summary, the company proposes to make the following changes to its investment policy and investment restrictions: Removing the company’s minimum lease term restriction Allowing the company to selectively take on the cost of funding planned maintenance Giving the […]

Sectors
08 Mar 2022

Foresight Forestry takes root

Foresight Forestry takes root – On 7 March 2022, Foresight Sustainable Forestry completed its seed assets transactions with the purchase of Blackmead Forestry Limited and Blackmead Forestry II Limited from Foresight Inheritance Tax Solution for a total cost of £113.4m. The fund gets 27 sites – 11 afforestation sites, 15 forestry sites and one site […]

Sectors
08 Mar 2022
a cup of tea, a croissant and some magazines

QuotedData’s morning briefing 8 March 2022

In QuotedData’s morning briefing 8 March 2022: JPMorgan Global Emerging Markets Income (JEMI) says its exposure to Russian securities amounts to three stocks, which are now valued at 0.25% of NAV (down from 3.6% at the end of January). Crystal Amber’s (CRS) shareholder meeting to approve its new investment strategy and management agreement saw significant […]

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