Pantheon International (PIN) has announced that Charlotte Morris has been appointed as co-lead portfolio manager of the trust with immediate effect to work alongside Helen Steers, succeeding Jie Gong in the role. Based in London, Charlotte is an investment partner at Pantheon and actively involved in the firm’s private equity secondaries business. PIN says that […]

Custodian Property Income REIT said that property valuations had stabilised in its portfolio in the final quarter of its financial year to 31 March 2024. Its portfolio fell in value by 4.0% on a like-for-like basis across the year to £589.1m but was flat in the first three months of 2024, which it said suggests […]

In QuotedData’s morning briefing 13 June 2024: RTW Biotech Opportunities (RTW) says its largest (13.4% of the portfolio) holding, Avidity Biosciences Inc. has announced positive initial data from its Phase 1/2 trial of AOC 1020, an investigational therapy that targets DUX4, the root cause of facioscapulohumeral muscular dystrophy (FSHD). AOC 1020 demonstrated unprecedented and consistent […]

Impax believes the urgent need to detect, treat and destroy ‘forever chemicals’ in the world’s water is creating investment opportunities that are broader and more valuable than many appreciate Executive summary Understanding of the potentially grave and lasting threats to public health and biodiversity posed by ‘forever chemicals’ is driving public pressure, regulation and litigation […]

The Lindsell Train Investment Trust (LTI) announced its annual results for the year to 31 March 2024. The company saw a NAV total return of 2.1%, a significant underperformance of the MSCI World Index which returned 22.5%.  Shares fell 19.8%, leading the discount to widen significantly. The company noted that the sharp widening of the […]

Value and Indexed Property Income Trust (VIP) announced its annual report for the year ended 31 March 2024. The company saw a NAV total return of -9.7%. The discount to net asset value also widened, resulting in a share price total return of -10.3%. Since the year end on 31 March 2024, however, the share […]

Odyssean Investment Trust (OIT) announced its annual results for the year ended 31 March 2024. The company saw a NAV total return of -3.7%, trailing the benchmark return of 3%. Shares fell -5.2% with the discount widening to 0.7%. The manager noted that the company’s performance reflected markets and volatility driven by stock specific issues. […]

In QuotedData’s morning briefing 12 June 2024: Special Opportunities REIT (SOR) has pulled its proposed IPO after falling short of its target fundraise. The company had targeted a £500m raise to acquire commercial property at distressed prices. It had lined up three cornerstone investors for up to £114m, but still fell short of its minimum […]

The Fidelity China Special Situations (FCSS) announced its annual report for the period ended 31 March 2024. During the year, the company reported a NAV total return of -16.3% and an ordinary share price total return of -16.4%. This was ahead of the benchmark Index, the MSCI China Index, which returned a total return of […]

In QuotedData’s morning briefing 11 June 2024: The US Solar Fund (USF) will purchase in aggregate 24,358,974 shares under its previously announced tender offer at a price of $0.764 per share. This is the maximum number of shares to be acquired, representing approximately 7.33% ($19m) of the issued share capital of the company. VietNam Holding […]

TR Property posted a 15.2% increase in net asset value (NAV) to 351.1p in the year to 31 March 2024, helped by a number of its portfolio companies being the subject of merger and acquisitions (M&A). Key highlights included: TRY reported a NAV total return of 15.2% and share price total return of 22.9%. These […]

Templeton Emerging Markets Investment Trust (TEM) has released its annual results for the 12 months ending 31 March 2024. Over the 12 months TEM delivered a NAV total return of 7.9%, outperforming its benchmark, the MSCI Emerging Markets Index, which returned 5.9%. TEMIT’s share price total return underperformed however, returning 4.9%, due to its widening […]

In QuotedData’s morning briefing 10 June 2024: Downing Renewables & Infrastructure Trust (DORE) has provided a Q1 NAV update for the three months ending 31 March 2024. DORE reported a NAV of £212.3m or 119.2p per share, a 1.3% increase from its 31 December 2023 value. Its NAV was primarily driven by positive FX movements, […]

Could AI be as groundbreaking as the printing press was? Scottish Mortgage deputy manager Lawrence Burns explores AI’s transformative power and investment potential. Capital at risk. View the article here.

Could AI be as groundbreaking as the printing press was? Scottish Mortgage deputy manager Lawrence Burns explores AI’s transformative power and investment potential. Capital at risk. View the article here.

Worldwide Healthcare (WWH) has published its annual results for the year ended 31 March 2024, during which it provided NAV and share price total returns of 12.0% and 8.6% respectively, which compare to a return from its MSCI World Health Care benchmark of 10.9% (all in sterling terms). The difference between the performance of the […]

VinaCapital Vietnam Opportunity Fund (VOF) and its manager, VinaCapital Investment Management have announced that Andy Ho, VinaCapital’s Chief Investment Officer, passed away unexpectedly at his home in Ho Chi Minh City on the morning of 6 June. Andy (pictured) had been with VinaCapital for some 17 years, having first joined VinaCapital in 2007. Previously he […]

In QuotedData’s morning briefing 7 June 2024: Pantheon International (PIN) has announced that, following the announcement of its capital allocation policy (CAP) on 16 May 2024, it has appointed Investec Bank and J.P. Morgan Securities to undertake an ongoing share buyback programme for the company. The maximum price payable is an amount equal to the […]

Schroder REIT posted a positive NAV total return in annual results, and reported that the value of its portfolio was stable over the three months to 31 March 2023. NAV declined by 4.4% to £287.4m, or 58.8p per share, over the year largely driven by an underlying portfolio value decline of 2.8% over the year […]

Downing Strategic Micro-Cap Investment Trust (DSM) announced its annual results for the year ended 29 February 2024. In November 2023 the board and manager announced the managed winddown of the company and the intention to return at least 20% of NAV to shareholders in early 2024. Since then, authority to change the mandate of the […]

The Biotech Growth Trust (BIOG) has released the annual results for its financial year ending 31 March 2024. BIOG reported a 12 month NAV total return of 26.5% and share price total return of 27.1%, outperforming its benchmark, Nasdaq Biotechnology Index, which returned 5.0%. Note that the benchmark will be changed to the Nasdaq Biotechnology […]

Gresham House Energy Storage (GRID) has announced that 14 of its projects, representing 568MW/920MWh, have secured fixed price contracts with a subsidiary of Octopus Energy, the UK’s largest electricity provider. This will provide two-year fixed-price contracts for approximately half of the company’s 1,072MW target portfolio starting in a phased manner from 1 July 2024. Octopus […]

In QuotedData’s morning briefing 5 June 2024: Syncona (SYNC) has provided an update on one of its portfolio companies, Quell Therapeutics. Quell has announced that it is advancing QEL-001, its autologous, multi-modular engineered CAR-Treg cell therapy, into the efficacy cohort of the Phase I/II trial in liver transplant patients. SYNC comments that “this is the […]

Workspace Group, the London flexible office provider, reported a sharp fall in EPRA net tangible assets (NTA) in annual result to 31 March 2024, as valuations in the office sector continue to tumble. The group’s EPRA NTA was down 13.7% to £8.00 over the year, mainly due to a like-for-like portfolio valuation decline of 8.1% […]

There was an announcement from Pershing Square Holdings yesterday saying that its manager Pershing Square Capital Management, L.P is now 100% owned by a new limited partnership and that 10% of that limited partnership had been sold to external investors for $1.05bn. The largest shareholder of the new LP is Bill Ackman. The consortium of […]