In QuotedData’s morning briefing 21 June 2023: CK Bidco provided an update on the level of acceptances received following the announcement on 9 May 2023 of an all-cash offer made by CK Bidco for the entire issued and to be issued share capital of Civitas (CSH). The company announced that, as at 20 June 2023, […]
abrdn Diversified Income and Growth’s board has announced that it has commenced a strategic review. The obvious problems that the trust faces are its discount, which was about 26% last night ahead of this announcement, and its shrinking market cap, which at £255m is not a bad size but the board feels limits the scope […]
Montanaro UK Smaller Companies Investment Trust (MTU) announced its annual results for the year ended 31 March 2023. The NAV total return and share price were both down 12%. In comparison, the Numis Smaller Companies (excluding investment companies) Index was minus 7.9%. The company noted that the negative performance of UK SmallCap as an asset […]
Monks Investment Trust (MNKS), which in August 2022 announced it was combining with The Independent Investment Trust, released its annual report for the year ended April 2023. During the year the NAV total return was -1.6%. The share price total return was -7.0%, while the World Index returned +3.2%. This follows on from last year’s […]
CC Japan Income & Growth (CCJI) announced its half year report for the period ended 30 April 2023. NAV total return was up 11.3%, while shares rose 13.1%. The strong returns were ahead of the benchmark TOPIX index which was up 9.5%. Returns in Japan have been solid over the course of the year as […]
The UK’s first operating deep geothermal heating plant since 1986 was opened today at the Eden Project in Cornwall and is now generating heat. A 3.3 mile long shaft has been drilled into the Earth’s crust (making it the longest geothermal well in the UK). A 4000m vacuum insulated tube has been inserted into the […]
Utilico Emerging Markets (UEM) has released its annual results for its fincial year ending 31 March 2023. UEM reported a NAV total return of 2.1%, ahead of the -5.0% of the MSCI Emerging Markets Index. UEM’s performance is in large part due to the strong recovery it saw during the second half of its financial […]
NextEnergy Solar Fund (NESF) has released its annual report for the financial year ending 31 March 2023. Highlights are: NAV growth of 0.9%, with a NAV per share of 114.3p, as of 31 March 2023 (a breakdown of the major factors influencing the NAV is shown below). An NAV total return of 7.3% and a […]
Triple Point Energy Transition (TENT) has released its annual report for the financial year ending 31 March 2023. Over the 12 month period TENT reported a NAV total return of 9.2%. TENT paid a dividend of 5.5 pence per share, in line with its previous pay out, and was fully covered by its revenues. This […]
In QuotedData’s morning briefing for 19 June 2023: Hg Capital Trust (HGT) has announced that it has agreed to a part realisation of its investment in Azets Group, a leading provider of business-critical accounting, tax, payroll, audit and advisory services to SMEs. Azets was formed by Hg six years ago. The counterparty to this sale […]
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: • Personal Assets (0:33) • Hansa Investment Company (8:26) • Custodian Property Income REIT (12:49) This week’s interview was with Matthias Siller from Barings Emerging […]
Increasingly, investing in Asia has become a story of India and China. These twin behemoths account for over half of the MSCI Asia ex Japan index[1] and define the narrative for the region. However, some of Asia’s most interesting growth ideas – including China plus one, financial inclusion, and rising technology innovation – can be […]
Baillie Gifford UK Growth Trust (BGUK) has released its annual results for the year to 30 April 2023, during which BGUK provided an NAV total return of 1.1%, which the trust says compares to a 6.0% total return for the All-Share. During the period, BGUK’s share price total return was -1.3%, reflecting a small widening […]
Custodian Property Income REIT has published results for the year ended 31 March 2023. Its NAV (or net tangible assets, NTA in this sector) fell to 99.3p from 119.7p, contributing to an NAV total return of -12.5%. The NAV fall reflects a £91.6m writedown in the value of the portfolio, reversing gains of £94m recognised […]
Biotech Growth has reported results for the 12 months ended 31 March 2023 and they aren’t good. The NAV total return for the year was -11.0%, a whopping 16.4 percentage points behind the +5.4% return on the NASDAQ Biotechnology Index. The return to shareholders was -12.8%. The chairman’s statement attributes the underperformance to investors’ preference […]
Syncona’s results for the 12 months ended 31 March 2023 are lacklustre. The company reports an NAV total return of -4.1% for the period, which follows on from an equally disappointing figure last year. The share price has fallen by about 7.6% and is currently back at levels seen in 2017. In the face of […]
JLEN Environmental Assets Group has published results for the year ended 31 March 2023. The share price rose from 112.8p to 119.6p, shareholders have now more or less doubled their money since IPO. Shareholders will be able to hear from the managers and ask questions at a special online event to be held next Wednesday […]
In QuotedData’s morning briefing 15 June 2023: Aquila European Renewables (AERI) passed its continuation vote at the AGM yesterday. The vote was roughly 75:25 in favour of continuation. [We would expect that next year’s continuation vote (brought forward from 2027) will actually prove less contentious. As we explain in the note published yesterday, with all […]
RTW Venture Fund Limited (RTW) announced the unaudited update for the month of May, with NAV growing 1.9% to US$365.2m. Shares rose 2.5% over the same period, and the discount narrowed slightly to 26%. Sequoia Economic Infrastructure Income Fund (SEQI) provided a NAV and investments update for May with NAV growing around 66 basis points […]
The Lindsell Train Investment Trust announced its annual results for the year end March 31 2023. The company’s net asset value per share fell 5% during the period, although the payment of the company’s total annual dividend of £53.00 per share in September 2022 ensured that the NAV total return was only fractionally down, by […]
Digital 9 Infrastructure (DGI9), has announced the appointment of additional personnel to the Triple Point Investment Management digital infrastructure team. Further to the previous announcement on 1 December 2022, Triple Point has completed the competitive recruitment and selection process to appoint a new Head of Digital Infrastructure. Triple Point and the board of D9 have […]
Atrato Onsite Energy (ROOF) announced its interim results for the six month period ended 31 march 2023. The company’s performance was generally positive with a modest improvement in NAV, which was up around 1%, while revenue growth came in 9% ahead of budget. Dividends were flat. Still, shares fell 14% during the period dragging the […]
Templeton Emerging Markets (TEM) has announced its annual results for the financial year ending 31 March 2023. Over the 12 month period TEM reported a NAV total return of 0.8% and share price total return of 0.5%. This compares to the -4.5% total return of its benchmark the MSCI Emerging Markets Index. Stock selection in […]
Personal Assets Trust (PNL) has released its annual results for the financial year ending 30 April 2023. Over the 12 month period PNL reported a NAV total return of -0.9%, and share price total return of -3.0%, this compares to the 6.0% total return of the FTSE All-Share Index. PNL’s main objective is to preserve […]
In QuotedData’s morning briefing 12 June 2023: As of 7:30 today, The FCA has suspended the shares of abrdn Latin American Income Fund at the request of the trust. This is part of the trust intention to be wound up, as was announced on 18 May 2023. Syncona (SYNC) has announced the launch of a […]
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: • ThomasLloyd Energy Impact (0:20) • The Investment Company (6:28) • Civitas Social Housing (8:20) This week’s interview was with James Thom from abrdn New […]
Big getting bigger One of the dominant, and for most investment managers highly frustrating, trends of recent times has been the strength of the mega caps. It was really evident in the UK last year, where a handful of large stocks drove indices higher and, if you were underweight those, as most active managers would […]
Syncona has announced that its portfolio company Quell Therapeutics has signed a collaboration agreement with AstraZeneca to develop, manufacture and commercialise autologous, engineered Treg cell therapies for two autoimmune disease indications. Under the agreement, Quell’s proprietary toolbox of Treg cell engineering modules, including its Foxp3 Phenotype Lock, will be used to develop autologous multi-modular Treg […]
Further to its announcement on 30 March 2023 (click here to see our coverage), The Investment Company (INV) has announced that it expects to publish a circular and prospectus shortly, in relation to the following proposals, which require shareholder approval: appointment of Chelverton Asset Management Limited (“Chelverton”) as external investment manager to the company; amendment […]
In QuotedData’s morning briefing 9 June 2023: International Public Partnerships (INPP) has reached financial close on its acquisition of five New Zealand availability revenue-based social infrastructure investments (as announced on 9 December 2022), following regulatory approval from New Zealand’s Overseas Investment Office (‘OIO’). These are INPP’s first New Zealand investments and the c.NZD 218m (c.£108m) […]
