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) […]
Schroder REIT increased its dividend by 14% last year on the back of strong operational performance. Estimated rental growth (ERV) on the diversified portfolio (which is skewed towards industrial assets) was up 9.2% in its financial year to 31 March 2023, while EPRA earnings was up to 3.3p per share. This fully covered the dividend […]
STS Global Income & Growth Trust (formerly Securities Trust of Scotland) has announced results for the year ended 31 March 2023. Unfortunately the trust underperformed, the NAV return for the year was -1.8%, and the share price total return was -4.8%, compared to a total return of +0.5% in the Lipper Global – Equity Global […]
Fidelity China Special Situations reports that, for the 12 months ended 31 March 2023, its NAV total return was 2.6%, just ahead of MSCI China, which returned 1.4%. The return to shareholders was 0.3%, as the discount widened to 9.7% at the end of the year compared to 7.5% last year. The dividend was increased […]
In QuotedData’s morning briefing 8 June 2023: Pershing Square (PSH) plans to buy back an additional $100m worth of its shares. Since March 2017, when its buybacks started, it has repurchased over 60m shares at a cost of $1.14bn. BioPharma Credit (BPCR) has agreed amended terms with its borrower LumiraDx. We discussed the problems that […]
The following comes from a press release that AJOT published this morning and relates to an earlier story. As announced in a press release dated 18 May, Asset Value Investors Limited (“AVI”) has submitted a shareholder proposal to NC Holdings (TSE: 6236, “Company”) to contribute to the best interests of shareholders. However, the Board of […]
Investment Week has a story this morning – ‘The circle is collapsing’: How a demolished house in Lancashire uncovered Home REIT’s broken business model – that details some frankly astonishing due diligence failings at Home REIT. You may have to register to read the article but here is a link to it. [I have been […]
LXI REIT has reported its first results since its merger with Secure Income REIT, showing “material cost savings” feeding through to earnings growth. EPRA earnings per share (EPS) was up 36.1% to 8.3p (31 March 2022: 6.1p), while adjusted cash EPS was up 17.5% to 6.7p for the year (31 March 2022: 5.7p). This fully […]
Worldwide Healthcare Trust (WWH) has released its annual report for the year ended 31 March 2023. The company’s net asset value per share total return was -0.1% and the share price total return was -4.1%, underperforming the benchmark MSCI World Health Care Index measured on a net total return, sterling adjusted basis, which returned +2.5% […]
Pantheon Infrastructure (PINT) announced a £52.5m increase to its existing £62.5m multicurrency revolving credit facility bringing the total to £115m. The increase in the loan facility provides the company with additional liquidity to support further investment in high-quality infrastructure assets from PINT’s near-term investment pipeline. The loan facility is currently undrawn. abrdn Diversified Income and […]
ThomasLloyd Energy Impact Trust (TLEI) has provided an update to its share suspension, and the status of its Rewa Ultra Mega Solar Park (RUMS) Project which led to said suspension. This was labelled as a notice of AGM and dividend declaration announcement, which may have meant that investors missed it. The RUMS project is held […]
JPMorgan European Growth & Income (JEGI) has released its annual report for the year ended 31 March 2023. The total return on net assets for the company’s ordinary shares was +9.9% (debt at par value) and +12.5% (debt at fair value). Both of these returns compare well with its benchmark, MSCI Europe ex UK, which […]
abrdn Japan Investment Trust (AJIT) announced annual results for the year to 31 March 2023. The company’s net asset value total return for the period was -4.4%, in sterling terms, underperforming the TOPIX Index, the company’s benchmark, gain of 2.8%. The company’s share price ended the year at 13.9% with the discount to NAV per […]
NewRiver REIT’s new strategy focused on ‘resilient retail’, mainly retail park assets with essential goods and services retail tenants, is starting to pay off with the company reporting strong operational performance in annual results to 31 March 2023. The group posted a 26% increase in underlying funds from operations (UFFO) to £25.8m, with UFFO per […]
