In QuotedData’s morning briefing 3 April 2023: Greencoat UK Wind (UKW) has announced the purchase of Dalquhandy wind farm from BayWa r.e. for approximately £50m. Dalquhandy is a 42MW wind farm located near Coalburn in South Lanarkshire. The wind farm benefits from a 10 year fixed price PPA with BT for 80% of its output. […]
Digital 9 Infrastructure (DGI9) is a good example of a fund which has been caught up in the global market rotation despite impressive underlying fundamentals and long-term thematic tailwinds. At its heart, the company offers targeted exposure to digital infrastructure, which leverages cleaner, greener power. This provides the foundation for the rapidly accelerating digital transition, […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Andrew McHattie gave an insight on Tetragon Financial and Phoenix Spree Deutschland and James Carthew covered the week’s top stories: • Schiehallion (0:40) • Global Opportunities (5:13) • Infrastructure discounts (8:16) This […]
Market turmoil can distract us from what investing should be about: directing capital to companies that change our lives for the better. Tom Slater, manager of Scottish Mortgage Investment Trust, reflects on why in tough times, the best companies deserve investors’ loyalty. As with any investment, capital is at risk. New technologies and better ways […]
Crystal Amber (CRS) says that it has sent the board of De La Rue Plc a requisition notice requiring De La Rue to convene a general meeting at which a resolution will be proposed to remove the current non-executive director and chairman, Kevin Loosemore. The requisition also proposes to appoint Pepyn Dinandt as a non-executive […]
RTW Venture (RTW) has published its annual results for the year ended 31 December 2022, During the year, RTW’s NAV declined by -10.2% (from US$363.0m or US$1.71 per share to US$326.1m or US$1.54 per share) with the main detractor being the markdown in Ji Xing (c. -2.2% contribution), after the IPO was delayed due to […]
JPMorgan American (JAM) has released its annual results for the year ended 31 December 2022. During 2022, financial markets have been heavily impacted by rising inflation and central banks’ interest rate hikes in response to this. Principal among these are the seven interest rate hikes in 2022 by the US Federal Reserve – taking the […]
Henderson High Income (HHI) has announced its annual results for the year ended 31 December 2022, which proved to be a more challenging period, after 2021’s strong performance. During 2022, HHI provided NAV and share price total returns of +-1.9% and -1.1% respectively, although this was superior to its composite index which provided a total […]
Pershing Square Holdings (PSH) has published its annual results for the year ended 31 December 2022. During the period, PSH net asset value (NAV) total return per share decreased by 8.8%, ending the year at US$51.76 per share, while its share price total decreased 14.6% as a result of the widening of the discount to […]
India Capital Growth (IGC) has announced its annual results for the year ended 31 December 2022. During the year, IGC’s NAV rose 3.9%, modestly outperforming the BSE Midcap TR Index, which increased by 3.2%. The NAV of the portfolio, before deferred tax provision relating to potential Indian Capital Gains Tax, rose by 4.3% outperforming emerging […]
Asset Value Investors (AVI) has submitted its opinions on best practices for takeovers in Japan to the Fair Acquisition Study Group of the Ministry of Economy, Trade and Industry (METI). The response was in respect of a request made by METI as a public consultation announced on 22nd February 2023 We reproduce the text of this […]
Warehouse REIT has recently concluded the sale of two distribution estates totalling 269,000 per sq ft, for £29.5m, generating an ungeared IRR of 9%. The disposals comprise: 12 Exeter Way, Theale, a vacant 92,000 sq ft warehouse with a high office component, acquired by an owner occupier for £15.0m; and Temple House, Harlow, for £14.5m, […]
The board of The Investment Company says that, following a thorough review of available opportunities, the company has entered into discussions to: appoint Chelverton Asset Management Limited to act as its investment manager, with a new investment strategy of investing primarily in quoted equities of UK small and mid-cap quoted companies to achieve long-term capital […]
Foresight Sustainable Forestrymade three acquisitions during March 2023. The company deployed a further £9.9m into three properties in Scotland: Newnoth Farm: This asset has strong afforestation potential and is directly adjacent to Newnoth Forest, an existing mature forestry property within the portfolio. Together, these properties create a combined area of circa 234 hectares. Balnagowan: Neighbouring […]
International Public Partnerships has published results for 2022. The highlights are: A total NAV return of c.12.5% for the year to 31 December 2022. NAV per share increase of 7.3% to 159.1p from 148.2p driven by, among other factors, the positive impact of the portfolio’s inflation-linkage. Full-year dividend growth of about 2.5% to 7.74p supported […]
BBGI Global Infrastructure has published results for the year ended 31 December 2022. Over that period the fund generated an NAV return of 9.1%. [Bizarrely, in what is otherwise a lengthy and detailed report, the statement makes no mention of BBGI’s share price, which we can tell you fell from 175.6p to 156.6p over the […]
In QuotedData’s morning briefing 30 March 2023: RTW Venture Fund (RTW) was part of a consortium of funds managed by the same manager that participated in a $125m funding for Milestone Pharmaceuticals. Milestone is a publicly traded biopharmaceutical company, which is shepherding etripamil, its lead investigational product, through Phase 3 clinical trials for paroxysmal supraventricular […]
The directors of HydrogenOne, the first London-listed fund investing in clean hydrogen for a positive environmental impact, continue to monitor wider market events including the current share price volatility in the market price of its shares. The board is not aware of company-specific factors that have led to the recent decline in the share price. […]
Global Opportunities Trust sees solid returns through 2022. Company NAV grew 15.8% for the year ended 31 December while shares grew 7.9%, a solid return given the volatility in global markets. The positive returns appear to have narrowed the company’s discount which now sits at around 12%. This also marked the first full year for […]
Menhaden Resource Efficiency announced its results for the year ended 2022. The numbers do not make for great reading with NAV down 16.5% while shares fell 20.3%, offsetting their solid performance from the previous year. The discount fell steadily throughout the year, falling as low as 36% at one point. It has improved slightly from […]
BH Macro Limited released impressive numbers for the year-end December 2022. The price of the sterling class shares rose by 20.05% and the US dollar class shares by 12.72%, whilst the NAV per share rose by 21.91% for the sterling class shares and 21.17% for the US dollar class shares. While the company doesn’t list […]
Fidelity Japan Trust (FJV) closed out a tough year, announcing results for the period ending December 2022. The company NAV fell by 24.3%, well behind the TOPIX benchmark which was down just 4.1%. Shares fell in sympathy, down 28.1%. Despite the share price volatility, the discount has remained relatively stable at around 10% over the […]
CVC Income & Growth Limited (CVCG) announced annual results for the year ended December 2022. The company saw solid NAV growth of 6.75%, following on from last year’s 12.2% while also increasing its dividend from 4.6 to 5.7%. Despite this, shares fell around 7%. The company does not provide a benchmark in the annual report, […]
Phoenix Spree Deutschland has suspended its dividend and has not paid a final dividend for the year to 31 December 2022 as the residential sales market in Berlin dries up following the hike in interest rates. As per its business model, cash to pay dividends is substantially dependent on condominium and/or other asset sales. Just […]
Octopus Renewables Infrastructure Trust (ORIT) announced its results for the year ended 31 December 2022. The company saw solid growth for the second year running with NAV up 12.3% after returning 9.3% the year prior, with NAV up 25.9% since the IPO in December 2019. The performance of its shares has been less impressive, however, […]
European Assets Trust (EAT) announced its results for the year ended 31 December 2022. NAV return was 28.2% for the year ended 31 December 2022. This compares to -17.7% for the benchmark, EMIX Smaller European Companies (ex UK) Index. Shares fell 28.4% in sterling terms over the same period. The company also announced a reduced […]
The board of Brown Advisory US Smaller Companies (BASC) announced the appointment of Jane Routledge as an independent non-executive director with effect from 1 April 2023. Jane is currently a non-executive director at M&G Credit Income Investment Trust plc where she is also a member of the audit & risk, remuneration, management engagement and nomination […]
CT Private Equity Trust (formerly BMO Private Equity Trust) announced preliminary annual results for the year-end December 31 2022. NAV increased 14.8% for the period, while shares fell 8.9%. The trust contrasts that with a 0.4% return on the All-Share Index. The dividend yield was 6.1% based on the year-end share price. As we have […]
Schiehallion Fund Limited has announced annual results for the year ended Jan 31, 2023. Since its launch in March 2019, shares have ridden a rollercoaster, reaching a peak of more than 150% above list price, however as we have seen across the growth universe, many of these companies crashed back down to earth over the […]
VH Global Sustainable Energy Opportunities reported its annual results for the year ended 31 December 2022. Shares fell -5.61% while NAV increased by 7.6%. The company does not provide a benchmark in its annual report, however, performance was roughly in line with the S&P Global Clean Energy Index. The discount remained relatively steady throughout the […]
