Aquila Energy Efficiency Trust (AEET/AEEE) announced its annual results for the year-end 31 December 2022. Company NAV was flat for the year however shares fell -23.5%. The principal contributor to the decrease in NAV was the payment of £2.25m in respect of two dividends in the six months ended 31 December 2022. These payments were […]
RTW Venture Fund (RTW) announced annual results for the year ended December 31 2022. NAV fell 10.2%, while shares were down -32% underperforming both of the company’s benchmarks with the Russell 2000 Biotech and Nasdaq Biotech indices down -31.3% and -10.9% respectively. The company’s discount fell to as low as 37% for the year although […]
Princess Private Equity Holding (PEY) provided a monthly update with NAV growing 0.3%. It also confirmed the first interim dividend payment of EUR 0.365 per share for FY 2023, which is in line with previous guidance to distribute 5% of opening net asset value for each financial year, via semi-annual payments. The first interim dividend […]
Ashoka WhiteOak Emerging Markets Trust (AWEM), a new UK investment trust seeking to achieve long-term capital appreciation through investment primarily in quoted securities that provide exposure to global emerging markets, announced that it has successfully raised gross proceeds of £30.5m through the IPO of its ordinary shares. AWEM is the first premium listed IPO in […]
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: • NextEnergy Solar (0:35) • Round Hill Music (5:52) • ThomasLloyd Energy Impact (14:05) This week’s interview was with Craig Baker from Alliance Trust – watch it again […]
Fortune favours the brave, or so they say, and, as it turns out, so do the markets. One of the most important factors in investing is simply being first to bat, as by the time your turn comes, the game could be already over. Putting aside the metaphors, there is a distinct possibility that we […]
Boussard & Gavaudan Holding (BGHL/BGHS) has published its annual results for the year ended 31 December 2022. During the year, BGHL’s NAV for the euro and sterling shares decreased by 4.90% and 3.47%, respectively, while the associated market prices decreased by 4.72% for the euro shares and increased by 5.26% for the sterling shares. As […]
VPC Specialty Lending (VSL) has released its annual results for the year ended 31 December 2022. During the period, VSL’s NAV per share decreased by 6.97% on a total return basis, comprising a NAV per share reduction from 114.14p to 98.19p, plus the 8.00p of dividends paid in 2022, while the share price fell from […]
Blackstone Loan Financing (BGLF) has released its annual results for the year ended 31 December 2022. Key takeaways are that while performance was supported by robust distributions, the discount to NAV remains wide and the board launched a shareholder consultation in January to look at this. Conclusions were announced in March and steps will now […]
Marwyn Value Investors (MVI) has published its annual results for the year ended 31 December 2022. Unfortunately, the announcement doesn’t provide much in the way of detail as to how MVI generated its returns over the year, so we can’t comment on that here, but it says that, for its ordinary shares, it generated an […]
Life Settlement Assets (LSAA) has announced its results for the year ended 31 December 2022. LSAA’s Board says that, now the MBC litigation is complete, it is actively considering further options to reduce this discount, which will be communicated to Shareholders in due course. Key highlights from the results are as follows: Finalisation of MBC […]
In QuotedData’s morning briefing 28 April 2023: Industrials REIT (MLI), which has agreed a £500m sale of the company, released a trading update for the first quarter of 2023 showing a 4.8% like-for-like growth in passing rents and 10.6% growth in estimated rental values (ERV) over the 12 month period. During the quarter it concluded […]
Downing Renewables & Infrastructure is buying a portfolio of operational solar PV assets located in the UK for £12.6m in cash. The 13.0 MWp portfolio of two ground-mounted sites and approximately 1,600 commercial and residential installations benefits from high levels of feed-in tariffs and renewable obligation certificate subsidies. The vendors are the two Gresham House […]
NextEnergy Solar Fund is to recycle the capital invested in its subsidy-free solar assets, redeploying the cash to cut borrowing, invest in new projects and buy back shares. It aims to crystallise the value that it has created within its 236MW portfolio of subsidy-free UK solar assets. The proceeds will be used to: reduce gearing: […]
In QuotedData’s morning briefing 27 April 2023: Literacy Capital (BOOK) says its 31 March 2023 NAV was 467.3p, up 11.1% over the first three months of the year from 420.6p at the end of December. RCI (+£18.6m) was again the most significant contributor in the quarter, driven by strong organic growth. Kernel Global added £8.4m […]
Oakley Capital Investments announced its quarterly trading update for the three months ended 31 March 2023. Total NAV return per share for the period, including dividends, was +1.25% while total shareholder returns were 9%. The company also made £27 million in new investments. The update noted that the increase in the portfolio reflects a cautious […]
Third Point Investors Limited (TPOU) announced its annual results for the year ended December 2022. The company returned -24.4% on a NAV total return basis and -25.5% on a share price basis. This compares with a -17.7% return for the MSCI World Index and a -18.1% return for the S&P 500 Index. Despite the poor […]
M&G Credit Income Investment Trust announced its annual results for the year ended 31 December 2022. NAV fell 1.7% for the year, falling short of the 5.5% benchmark return. While management acknowledged the disappointing result, they did note that it was the first year of underperformance since the IPO in 2018. The annual report noted: […]
In a NAV update for the first quarter of the year, CT Property Trust posted a 1.3% uplift to 96.6p per share – further evidence of a stability of real estate prices following a rapid decline in the second half of 2022. Last week MSCI data showed that month-on-month property values in the UK were […]
RM Infrastructure Income (RMII) announced its annual results for the year-end December 2022. Including dividends, the company achieved NAV growth of 5%, while shares grew 3.7%, following on from its impressive performance through 2021 which saw NAV and share price growth of 7.6% and 16,7% respectively. While there is no mention of a benchmark in […]
Aquila European Renewables (AERI) announced its annual results for the year-end December 2022. The company added +184.7 MW of operating capacity during the year, an increase of 80.7%. NAV increased 12.7%, the largest growth since IPO while revenue came in 20.4% ahead of expectations thanks to favourable energy pricing during the period. The results cap […]
RTW Venture Fund Limited announced that Abdera Therapeutics has completed its $142M Series A and Series B financing rounds in which it participated. Abdera is a privately held pre-clinical stage biopharmaceutical company leveraging antibody engineering to design and develop new precision radiopharmaceuticals for cancer. The company is building a pipeline of potentially best-in-class therapies for […]
NB Private Equity Partners (NBPE) announced annual results for the year-end 31 December 2022. NAV fell 7.5% over the 12-month period with the decline driven by changes in quoted holdings and FX. Despite the falling NAV, the underlying portfolio performance was solid with operating performance of 14% LTM revenue and 12% LTM EBITDA growth, respectively. […]
Round Hill Music Royalty Fund announced its full-year results for the year end December 2022. The company saw a 13% increase in NAV to US$519.6m driven by active rights management and positive structural music industry tailwinds while revenue increased 32% YOY. The performance continues an impressive period for the company, which has delivered a 35% […]
GCP Asset Backed Income Fund (GABI) announced its quarterly update for the period ended 31 March 2023. NAV increased 0.24% over the three months driven by an increase in the weighted average annualised yield on the investment portfolio, from 8.0% as at 31 December 2022 to 8.4% as at 31 March 2023 and from the […]
abrdn Property Income Trust expects commercial real estate returns to turn positive this year, after a difficult 2022. The company today reported a -12.8% NAV total return for the year to 31 December 2022, having been impacted by a rapid revaluation of assets due to higher interest rates and increased cost of its own debt. […]
ThomasLloyd Energy Impact Trust (TLEI) has just announced a temporary suspension to the listing of its ordinary shares, halting its trading. While preparing its annual results the trust was made aware of material uncertainty in the fair value of its investment in SolarArise, a Delhi-based renewable energy platform . The issue relates to a 200MW […]
Baker Steel Resources Trust (BSRT) has released its annual results for the financial year ending 31 December 2022. Over the 12 month period BSRT reported a NAV total return of -19.3%, compared to the 10.2% increase in the EMIX Global Mining Index. BSRT’s underperformance was attributed to a series of investment-specific factors, primarily due to […]
In QuotedData’s morning briefing for 24 April 2023: SEED Innovations (SEED) has announced the conversion of £600,000 Convertible Loan Notes (“CLNs”) in Northern Leaf, a Jersey based medical cannabis cultivator, following its successful £3 million pre-IPO fundraise. The CLNs were converted into 1,236,331 preference shares in Northern Leaf, representing 2.2% of the enlarged equity of […]
Ashoka WhiteOak Emerging Markets IPO prospectus was published on 18 April 2023. As usual, we are making it available for you to read here. Please remember that access to the IPO is restricted by geography and, in particular, you should not be contemplating an investment if you are based in the US. Make sure that […]
