abrdn Asian Income enjoys strong performance over 2021 as it prepares for upcoming challenges – abrdn Asian Income (AAIF) has posted its final results for the year to 31 December 2021, during which time, on a total return basis, the net asset value per share rose by 11.0%, surpassing the MSCI All Countries Asia Pacific […]
Octopus Renewables Infrastructure chair warns ‘new renewable generation is urgent as ever’ – Octopus Renewables Infrastructure (ORIT) has published its final results for the year to 31 December 2021. During the period, its NAV per share increased from 98.3p to 102.3p. In combination with the dividends paid during the year this gave rise to a NAV […]
Double investment for Pantheon Infrastructure – Pantheon Infrastructure (PINT) has agreed to invest approximately £40m alongside a Macquarie Asset Management-led consortium, which has agreed to acquire a 60% stake in the UK gas transmission and metering business of National Grid. The business owns and operates the UK’s regulated national gas transmission system and an independent gas […]
In QuotedData’s morning briefing 28 March 2022: JPMorgan UK Smaller Companies (JMI) has posted its interim results for the six months to 31 January 2022. During the period under review, the trust delivered a negative return of 12.2% in share price terms and a NAV return of -9%. This was behind the Numis Smaller Companies plus […]
Scottish Mortgage deputy fund manager Lawrence Burns explains how access to the brightest minds in entrepreneurship and academia allows him and his team to invest in the leading companies of the future. “Academics don’t think on a one to two-year horizon. They think on a 10-year horizon, they think on a multidecade horizon and that […]
This week (Wednesday 23 March, to be precise) marked two years since the first lockdown was implemented in the UK in response to the COVID-19 pandemic. It feels like a long time ago yet also as if it were just yesterday. Our perception of time is one of the many things that the pandemic has […]
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: • Aberdeen New India/India Capital Growth • Greencoat Renewables • Rockwood Realisation This week’s interview was with Blake Hutchins of Troy Income & Growth. – […]
Triple Point Social Housing REIT reported a modest NAV increase of 1.7% in the year to 31 December 2021. Highlights of the results are: EPRA Net Tangible Assets (equal to IFRS net asset value) per share of 108.27 pence (2020: 106.42 pence), an increase of 1.7% Portfolio independently valued at £642.0m (2020: £571.5m) The portfolio’s […]
Hibernia REIT has agreed a deal with Brookfield, the North American private equity giant, on the sale of the business for around €1.089bn. Under the terms of the cash offer made by Benedict Real Estate Bidco Limited (a subsidiary of one of Brookfield’s real estate private funds), Hibernia REIT shareholders would be entitled to receive […]
BMO Private Equity Trust (BPET) has announced its annual results for the year ended 31 December 2021. During the year, BPET provided an NAV total return of 35.8%, which it says compares against a total return from the All-Share Index for 2021 of 18.3 per cent. During the year, BPET’s share price discount to NAV […]
Aquila European Renewables Income (AERS) has announced that it has entered into an agreement to acquire 100% of a 100 MWp solar PV portfolio, otherwise referred to as the Greco portfolio, which is currently under construction in Andalucía, southern Spain. Upon Project completion, Greco will increase AERS’s total portfolio generation capacity by 30% to 432 […]
In QuotedData’s morning briefing 25 March 2022: Strategic Equity Capital (SEC) has published its interim results for the six months ended 31 December 2021. During the period, SEC’s NAV per share (on a total return basis) increased by 1.9%, while its Small Cap (ex Investment Trusts) Total Return benchmark, which is used for comparison purposes […]
Foresight Sustainable Forestry fully invested – Foresight Sustainable Forestry Company has bought two afforestation sites, Burn of Bellyhack and Red Craig & Glen Burn. The sites are both located in Aberdeenshire, Scotland, and have a total area of 359 hectares, increasing the total area of the portfolio to 8,474 hectares. The pair of properties were acquired […]
New conditional tender for Aberdeen New India – The board of Aberdeen New India Investment Trust intends to introduce a five-yearly performance-related conditional tender offer. The board is concerned about the relative underperformance of the NAV over shorter term time periods compared to its benchmark, the MSCI India Index. Following discussions with the investment manager, the […]
GCP Asset Backed Income has announced results for 2021. Highlights are: Dividends of 6.30p declared, including a dividend of 1.575p for the quarter to 31 December 2021, which was paid post year end. Total shareholder return of 13.2%, total NAV return of 3.4% and an annualised total shareholder return since IPO of 5.3%. Profit for […]
SDCL Energy Efficiency wants £75m – SDCL Energy Efficiency Income Trust has announced a proposed placing to raise £75m through an issue of new ordinary shares. The placing will be non pre-emptive (existing shareholders don’t get any preferential treatment). Jefferies International Limited has commenced a book-building process to determine the level of demand from potential investors for participation […]
US Solar Fund says its NAV increased by 1% over the course of 2021 to $0.975. Dividends totaling 5.5 cents were declared for the year and these were covered 1.82x by cash. The company is targeting a dividend of 5.58 cents for 2022. The statement says that the NAV uplift reflects the impact of useful […]
HydrogenOne backs Cranfield Aerospace – HydrogenOne Capital Growth and Safran Corporate Ventures have signed definitive agreements for a common investment in Cranfield Aerospace Solutions as part of a more than £10m funding round. HydrogenOne is investing £7m in this funding round. With this purchase of a minority equity stake, each company has the right to a […]
International Public Partnerships has published results for the 12 months ended 31 December 2021. The NAV increased from 147.1p to 148.2p and dividends totalling 7.55p were declared. The company has set out dividend targets for 2022 of 7.74p (+5.2%) and 2023 7.94p (+2.6%). The chairman says that: “Whilst overall the portfolio performed well in 2021, […]
Temple Bar beat its benchmark over 2021 – the first full calendar year under Redwheel’s management – delivering a return on NAV of 24.3% against 18.3% for the All-Share. The total dividend for the year was 39.5p, up from 38.5p for 2020. A small part of this has, once again, been paid from revenue reserves. […]
M&G Credit benefits from discount narrowing but tougher times await – M&G Credit Income Trust has published results covering the year ended 31 December 2021. The fund exceeded its target return of LIBOR+4%, returning 4.3% against 4.1% for the benchmark. Rates are rising though and so this target is going to be tougher to achieve. The […]
In QuotedData’s morning briefing 24 March 2022: Starwood European Real Estate Finance (SWEF) generated an NAV return of 6.6% for the year ended 31 December 2021 and paid a reduced dividend of 5.5p (down from 6.5p). Subject to the discount triggered realisation mechanism not being activated, the directors will put forward a realisation vote no […]
CIP Merchant Capital rejects Corporation Financière Européenne’s ‘highly opportunistic’ final takeover offer – Following a bid approach from Corporation Financière Européenne S.A. (CFE) which we reported earlier this year, CIP Merchant Capital (CIP), having duly considered the final offer and consulted with its financial adviser, has, once again, unanimously and unequivocally rejected the final offer. […]
In QuotedData’s morning briefing 23 March 2022: Baillie Gifford Japan (BGFD) has published its half year report for the six months to 28 February 2022. During the period under review, the trust’s NAV fell by 14.8% while its share price fell by 18.3%. This compares with just a 4.9% decrease from the TOPIX over the […]
EPE Special Opportunities results for the 12 months ended 31 January 2022 show its NAV increasing by a modest 4.1% and its share price by 14.0%, thanks to a narrower discount. Highlights within the portfolio: Luceco released its trading update for the year ended 31 December 2021 in January 2022, announcing strong revenue growth 36.0%. […]
Gore Street Energy Storage is holding a meeting of its shareholders on Monday 11, April 2022. Shareholders will be voting on proposed changes to the investment policy, and a proposed new initial issue and share issuance programme. The company intends to significantly increase the size of its portfolio and execute against its exclusive near-term pipeline […]
BioPharma Credit 2021 dividend uncovered by earnings – Over the course of 2021, BioPharma Credit generated an NAV return of 6.2% and a return to shareholders of 4.5% (as the discount widened slightly from 0.8% to 2.5%). Net income per share was 6.18 cents, meaning that the 7.29 cent per share dividend was not covered by […]
Over the course of 2021, European Assets generated a total return of 16.3% – ahead of the 14.9% return generated by the EMIX Smaller European Companies (ex UK) Index. Shareholders did even better as the discount narrowed by five percentage points. The return to shareholders was 23.2%. The dividend for 2022 (calculated at 6% of […]
On 21 March 2022, The Apax Digital Fund and Apax Digital Fund II, both of which are investments in Apax Global Alpha’s portfolio, announced an investment in ClearBank, one of the largest next-generation clearing and embedded banking platforms in the UK. On a look through basis, Apax Global Alpha is expected to invest about €5.4m. […]
Cordiant Digital Infrastructure has updated investors on its acquisition of Emitel, operational performance of CRA, sales progress at DataGryd, and an update on its pipeline. Emitel Emitel is a multi-asset digital infrastructure business based in Poland. It operates a network of communication towers, fibre-optics and a nationwide sensor network, serving major utilities. Cordiant Digital has […]
