Ashoka WhiteOak Emerging Markets Trust, 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, announces its intention to launch an initial public offering targeting gross proceeds of £100 million through the issue of 100 million ordinary shares at an issue […]
Impax Environmental Markets (IEM) announced the appointment of Guy Walker as an independent non-executive director of the company with effect from 17 May 2023. Guy is currently senior independent director at JPMorgan European Growth & Income plc, having joined them in 2021. He was previously managing director UK & European Equities at UBS Asset Management […]
Martin Currie Global Portfolio (MNP) has recently released its annual results, for the financial year ending 31 January 2023. Over the 12 month period MNP reported a NAV total return of -8.8%, compared to the 0.3% return of its benchmark index, the MSCI ACWI. MNP also reported a share price total return of -9.3%. MNP’s […]
BioPharma Credithas announced that it has entered into a definitive senior secured loan agreement with ImmunoGen along with BioPharma Credit Investments V. The company will invest up to $62.5m and BioPharma-V will invest up to an additional $62.5m in parallel. $37.5m was drawn at closing in the first tranche and up to an additional $25.0m […]
Caledonia Investments (CLDN) provided a portfolio update to March 31 2023. The company announced that the NAV total return over the past 12 months was 5%. While this is below its long-term target of inflation plus 3% to 6%, it compares favourably to the FTSE All Share return of 2.9% for the same period. This […]
“One of the greatest wealth transfers from shareholders to managers in listed history.” That was the assessment of Sean Hurst, incoming chairman of Dolphin Capital Investors – the small-cap high-end resort developer focused on eastern Mediterranean. The board is tasked with overseeing the sell-off of the company’s remaining assets and returning as much money as […]
Schroder UK Public Private Trust is making its first transaction in Asia, with an investment of $8.0m (about £6.6m) in AgroStar (Ulink Agritech Pvt. Ltd.), one of India’s foremost agricultural technology (AgTech) start-ups. You can visit its website here. This investment forms part of a $25m (£20.6m) total investment by Schroders Capital that led the […]
Octopus Renewables Infrastructure Trust has agreed to invest up to £5m into HYRO Energy Limited, a new joint venture between the trust (co-invested alongside another fund managed by Octopus Energy Generation, Sky (ORI SCSp) and Renewable Energy Systems. HYRO has been established to develop green hydrogen electrolysis projects in England, Scotland and Wales for industrial […]
Dunedin Income Growth’s results for the year ened 31 January 2023 show that its NAV increased by 2.4% on a total return basis, underperforming the All-Share Index which produced a total return of 5.2%. The chairman notes that just 23% of companies outperformed the benchmark index. The best performing sectors were energy, defence and mining […]
Gresham House Energy Storage has announced its audited annual results for the year ended 31 December 2022. 2022 performance highlights NAV total return (TR) of 39.1%, mostly driven by revaluation of new projects and increases in third-party revenue forecasts [Share price total return not disclosed in the report but we think it was 29.1%] EBITDA of […]
Nippon Active Value Fund has published results for the year from 1 January 2022 to 31 December 2022. At the end of the year, the NAV 140.5p, +3.5% over the year and the MSCI Japan Small Cap Index returned -1.6% (both in sterling terms). The closing share price on 31 December 2022 was 117.5p, reflecting […]
In QuotedData’s morning briefing 6 April 2023: JPMorgan Japanese (JFJ) has a new revolving credit facility of 10bn yen with the capacity to increase this by a further 2bn yen. Diverse Income (DIVI) has reminded shareholders that they can, if they wish, take advantage of its annual redemption facility at the end of May each […]
abrdn Asian Income Fund announced annual results for the year ended December 31 2022. NAV total return was -3.6% while shares fell 2.7%, beating the benchmark MSCI AC Asia Pacific ex Japan Index total return Index, which fell by 6.8% on a total return basis. NAV total return has now outperformed the index over one, […]
North American Income Trust announced results for the year ended 31 January 2023. Over the year, NAV total return was 9.6%, outperforming the 8.5% total return in sterling terms for the Russell 1000 Value Index, the company’s primary reference index, while the share price total return was 12.4%. The discount at which the share price […]
Baillie Gifford China Growth announced annual results for the year to 31 January 2023. NAV total return was -5.7% while shares dropped 7.9% compared with a total return of -2.2% for the MSCI China All Shares Index (in sterling terms). In the period from 16 September 2020 (the date of the adoption of the China strategy), […]
NB Global Monthly Income Fund, which has put forward proposals to be placed in managed wind down, has announced its annual results for the year ended 31 December 2022. In what was a challenging year for fixed income, NAV fell -10.1% while shares dropped -13.60%. While the company does not list a benchmark, returns for […]
UK Commercial Property REIT has secured new leases across three assets at a combined weighted premium of 40% to previous passing rent, reflecting the strength of occupier demand in the industrial and retail warehouse sectors. Webcon, a supplier of car parts, has agreed a five-year lease renewal for the 10,000 sq ft Unit 1 at […]
Merchants announced its results for the year ended January 31, 2022. NAV total return for the period was 7.9% ahead of the benchmark index FTSE All-Share index return of 5.2% while shares were up around 3%. Merchants was also second in its peer group (a group of twenty one investment trusts with similar objectives) over the […]
Home REIT’s board has announced that it has received proposals from six candidates to act as the company’s investment adviser, which it is reviewing and expects to make an appointment over the coming weeks. The new investment adviser will take over from Alvarium Home REIT Advisors Limited, after its many failings that were first exposed […]
Crystal Amber has released the full text of a previously announced requisition notice which we wrote about here. The full text is laid out in full, below: Dear Fellow Shareholder, 30th March 2023, Crystal Amber sent to the board of DLR a requisition notice requiring DLR to convene a general meeting at which a resolution will […]
Schroder AsiaPacific Fund (SDP) has announced the appointment of Rupert Hogg as an independent non-executive director of the company, with effect from 1 May 2023. Mr Hogg will also be a member of the audit and risk, nomination and management engagement committees. Aquila European Renewables (AERI) announced that Guillena, a 50 MWp solar PV asset […]
Mercantile Investment Trust announced its annual results for the year ended January 31 2023. NAV fell 8.5% for the year, while shares fell 12.6% for a total return of -11.0%, trailing the UK medium and smaller companies benchmark which fell 7.5%. There was some notable improvement in the second half of the year, however, with […]
HydrogenOne (HGEN) announced results for the year ended December 31 2022. NAV growth was strong, up 21.9% year on year, however, this was offset by a 33.6% drop in the share price. While the underlying health of the company has remained solid, the discount has continued to widen, falling to around 50% at the last […]
Castelnau Group (CGL) announced its results for the 12-month period ending December 31 2022, concluding its first full year as a listed company. The NAV total return for the year was -19.81%, and the share price return was -34.6%, versus the benchmark FTSE All Share Total Return Index of +0.3%, a -20.1% relative underperformance of […]
NextEnergy Solar Fund (NESF), the specialist solar fund, announced that its second international solar co-investment named Santarém, a 210MW project in Portugal in which NESF holds a 13% stake, has signed a long-term Power Purchase Agreement with Statkraft, a leading renewable producer in Europe’s energy market. Under the agreement, Statkraft will acquire electricity production from […]
Digital 9 infrastructure (DGI9) issued a statement regarding its share price. The board and the investment manager confirmed that they are not aware of any portfolio-specific factors that have led to the recent decline in the share price. The board believes that the discount to NAV at which the company’s share price currently trades materially […]
UK Commercial Property REIT posted a NAV total return for the year ended 31 December 2022 of -18.1%, due to market yield expansion following increased interest rates and macro-economic position. NAV was down 21.9% to 79.7p in the year, with the value of its portfolio down 15.4% to £1,275.6m. Over the longer term, the group’s […]
Impax Environmental Markets (IEM) has announced its annual results for the year ending 31 December 2022. Over the period IEM reported a NAV total return of -15.0%, and a share price total return of -22.8%. This represents an underperformance relative to IEM’s global equity comparator index, the MSCI ACWI, which generated -8.1%. IEM did outperform […]
Industrials REIT is the subject of a £500m possible cash offer from US private equity giant Blackstone – 42.4% above its closing price on Friday. The company announced today that, following a period of extensive negotiations, it had reached agreement with Blackstone on the key financial terms of a final proposal for a possible cash […]
Downing Renewables & Infrastructure Trust plc (DORE) has announced its annual results for the financial year ending 31 December 2022. DORE reported a NAV total return of 19.5% over the year, and a NAV growth of 15.5% (i.e. the underlying portfolio). DORE reported a share price total return of 21.1% over the same period. DORE […]
