Chelverton UK Dividend Trust (SDV) has released its annual results for the 12 month period ending 30 April 2023. SDV’s NAV per share fell by -15.3%, and its share price fell by -9.4%. Total assets, including its revenue reserve, fell by -8.7%. Over the same period the MSCI Small Cap Index fell by -5.2%. SDV […]
DX Group Plc has reached an agreement with the administrator of Tuffnells over the running of its UK logistics sites. Urban Logistics REIT (SHED) has 12 sites let to Tuffnells, which fell into administration earlier this month. Nine of the 12 leases, which in total account for 3.3% of SHED’s income, will eventually be transferred […]
JPMorgan Core Real Assets (JARA) has released annual results for its financial year end 28 February 2023. Over the 12 month period JARA reported a NAV total return of 11.6% and share price total return of 7.0%. A major factor in driving JARA’s positive performance was its unhedged currency exposure, particularly its large exposure to […]
QuotedData’s morning briefing 30 June 2023: CLS Holdings (CLI) has secured a 30-year lease with the City of Essen at it office scheme The Brix, in Essen. The City of Essen will take 17,400 sqm (187,292 sq ft) of space, with the lease benefiting from indexation. CLS will spend €20m over the next three years […]
abrdn New India has published results covering the 12 months ended 31 March 2023. Over the period, the NAV return was -8.0% and the return to shareholders was -8.9%. Both are a little worse than the -6.0% return delivered by the MSCI India Index. The chairman notes that one of the most significant drivers of […]
Sequoia Economic Infrastructure’s chairman has bemoaned the discount widening that hit the fund over its latest reporting period, but investors may have concerns about credit quality. Sequoia Economic Infrastructure has published annual results covering the 12 months ended 31 March 2023. Over that period, it delivered an NAV return of -0.9% and a share price […]
In an update to Monday’s story, Ecofin US Renewables says that it will likely be forced to cut its dividend following the loss of income from its Whirlwind project. The tornado that hit Matador Texas on 21 June 2023 killed four people and injured 15 others, making it the deadliest Texan storm since 2015. The […]
In QuotedData’s morning briefing 29 June 2023: Secured Income Fund (SSIF) will make a seventh return of capital amounting to £3,159,621 by issuing B shares to ordinary shareholders and then redeeming them. To be eligible, shareholders must be on the register on 6 July. The money should be paid around 17 July. This takes the […]
abrdn Private Equity Opportunities (APEO) has announced its interim results for the six months ended 31 March 2023. Key highlights from the results announcement are as follows: Performance – NAV total return (NAV TR) for the six months to 31 March 2023 was 3.0%. The valuation of the underlying portfolio increased by 5.4% during the […]
SDCL Energy Efficiency Income (SEIT) has announced its annual results for the year ended 31 March 2023. Key highlights from the report are as follows: Net Asset Value (NAV) per share of 101.5p as at 31 March 2023 (31 March 2022: 108.4p), which includes a reduction of 7.3p from 70bps increase in weighted average unlevered […]
In QuotedData’s morning briefing 28 June 2023: Atrato Onsite Energy (ROOF) has signed a power purchase agreement (PPA) to sell the electricity generated by Project Skeeby, a 50MW solar PV project in Richmond, North Yorkshire. As announced in April, Skeeby is a recent acquisition and is currently under installation, with an expected energisation date of […]
Chrysalis Investments reports a 12% fall in its NAV over the six months ended 31 March 2023 to 130.02p per share. The share price fell from 61.7p to 58.7p. The chairman notes that the decrease reflects movements in both peer group stock market valuations and the tougher capital market conditions for both ‘follow on’ and […]
Mid Wynd’s board has decided that, in the wake of personnel changes at Artemis, it intends to appoint Lazard Asset Management LLC as its alternative investment fund manager (AIFM) and Lazard Asset Management Limited as its investment manager. In conjunction with the appointment of Lazard, the company intends to appoint a third-party company secretary and […]
In QuotedData’s morning briefing 27 June 2023: RTW Venture Fund has changed its name to RTW Biotech Opportunities. The Guernsey registry has confirmed the name change, effective 22 June 2023. The ticker remains the same (RTW). Seed Innovation’s (SEED) results show [deep within the text] that its NAV fell from £20.461m to £16.032m, or 9.62p […]
Blackstone Loan Financing (BGLF) has announced that following extensive consultation with external advisors, the trust has unanimously recommended to shareholders to vote in favour of a managed wind-down. While BGLF has generated strong performance over its nine-year life, the board felt that the current factors weighing on the trust are sufficient to justify its wind-down. […]
JPMorgan Japan Small Cap Growth & Income (JSGI) has announced its annual results for the year ending 31 March 2023. Over the 12 month period JSGI reported a NAV total return of -5.7% and share price total return of -7.8%. This is compared to the positive 5.0% return of its benchmark, the MSCI Japan Small […]
In QuotedData’s morning briefing 26 June 2023: US Solar Fund (USF) has announced that it has reached the financial close on the sale of 50% of its interest in the 200MWDC Mount Signal site to MN8 Energy (formerly known as Goldman Sachs Renewable Power), with the binding sale agreement having been made in April 2023. […]
There’s been a surprising amount going on in markets this week, what with UK inflation, which many commentators have been suggesting is rolling over, remaining stubbornly high at 8.7% over the year to end of May 2023. This was unchanged from the previous month and was higher than had been expected, in view of energy […]
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: • Civitas Social Housing (0:33) • abrdn Diversified Income & Growth (4:03) • Monks (13:34) This week’s interview was with Jonathan Hick from Triple Point […]
CK Assets has received enough support from shareholders for its 80p bid for Civitas Social Housing and the offer has now become unconditional. Just over 64% of Civitas shareholders (including CK Assets’ 17% holding) accepted the bid, which was made on 9 May and was a 27% discount to net asset value (NAV) but a […]
Fondul Proprietatea has announced that The Romanian Financial Supervisory Authority (FSA) has approved the publication of a prospectus in relation to initial public offering (IPO) by the Fund of Hidroelectrica’s existing ordinary shares. Hidroelectrica has applied for admission to listing and trading of its shares on the regulated market of the Bucharest Stock Exchange (BSE). […]
In a very unusual move, Princess Private Equity (PEY) has announced that two of its directors, Steve Le Page and Felix Haldner, have decided to withdraw their nominations for the company’s AGM, which is scheduled for today. PEY has not provided any explanation for the sudden development, which will almost certainly lead to speculation as […]
Montanaro European Smaller Companies (MTE) has released its annual results for the year ended 31 March 2023. During the period, the MSCI Europe (ex-UK) Small Cap Index (in sterling terms) fell by -5.5% while, in comparison, MTE’s NAV fell by 7.6% to 158.4p per share. Share price performance was slightly worse as the discount widened […]
In QuotedData’s morning briefing 23 June 2023: Gore Street Energy Storage (GSF) has increased the size of its existing revolving credit facility (RCF) with Santander from £15m to £50m. Pricing for the £50m facility remains unchanged at 300 basis points over SONIA. If the increased RCF is fully utilised, GSF’s debt would be equivalent to […]
As fears that high interest rates may persist, we examine how a potential recession could affect equities with Alliance Trust Stock Pickers Ben Whitmore and C.T. Fitzpatrick in the latest of our ‘The big question’ interviews. previous story | next story
Urban Logistics REIT has reported a strong operational performance in annual results to 31 March 2023, with net rental income up 45%. However, EPRA net tangible assets (NTA) was down 14.0% to 162.44p, reflecting the outward movement in investment yields in the real estate sector in the high interest rate environment. The group’s portfolio was […]
Pantheon Infrastructure has committed to invest approximately €23.1m (£19.9m) in a telecommunications infrastructure operator GlobalConnect. The investment is being made through a co-investment vehicle managed by affiliates of EQT AB Group, a leading global investment organisation managing about €119bn in fee-generating assets. GlobalConnect is a digital infrastructure company with the most extensive fibre network across […]
Cordiant Digital Infrastructure generated a total return of 10.0% over the 12 months ended 31 March 2023. The total dividend for the period increased to 4.0p, in line with guidance. This was 3.4x covered by earnings and 1.5x covered by adjusted funds from operations. [These are quite respectable numbers for a fund that investors appear […]
The Global Smaller Companies Trust moved more or less in line with its benchmark over the 12 months ended 30 April 2023, returning -2.9% to the benchmark’s -2.1%. The benchmark changed on 1 May 2023 but for the period under review it was 30% Numis UK Smaller Companies (ex investment companies) and 70% MSCI All […]
Rockwood Strategic’s results for the year ended 31 March 2023 encompass its very strong run of performance last year. Over the period, the trust generated an NAV total return of 21.4%, which compares to a 15.7% fall in its FTSE Small Cap (ex-ITs) benchmark. Shareholders got a return of 28.2% as the discount narrowed. There […]
