Impact Healthcare REIT has posted strong results as inflation-linked leases negate the impact of rising interest rates. The care home provider reported a 2.0% drop in NAV to 110.17p per share. Its property portfolio was valued at £568.8m as at 31 December 2022, up 14.3% in the year due to acquisitions. The change in fair […]
abrdn Smaller Companies Income Trust results for the year end 31 2022 December do not make for happy reading for investors. NAV fell 33.2% while the share price dropped 33.7%. This compares to the Numis Smaller Companies ex Inv Trust Index which fell 17.9%. The discount closed the year at around 16% however has since […]
Regional REIT saw its net asset value fall 24.4% in annual results to 31 December 2022, primarily as a consequence of rising interest rates affecting valuations in the property sector. The group’s EPRA net tangible assets (NTA) was 73.5p per share at the end of the year, compared to 97.2p a year prior. This was […]
Invesco Bond Income Plus (BIPS) released its annual results for the year ended 31 December 2022. In what was a tough year across the entire high-yield sector, shares fell from a premium of 2.3% at the beginning of the period to close at a discount of 3.4%, a fall of 5.2%. NAV fell 10.8%, trailing […]
Unbound group (UBG), formally Electra Private Equity, announced a statement regarding an offer from WoolOvers Group Limited for the entire issued and to be issued share capital of Unbound. Under the terms of the possible offer, Unbound shareholders would receive 10.5 pence in cash and 1 contingent value right per Unbound share. The terms of […]
Life Science REIT has reported a 8.9% fall in net asset value (NAV) in maiden annual results. Rising interest rates in the second half of the year and property acquisition costs (as it invested its IPO proceedings) resulted in a 7.5% drop in the value of its portfolio on book value to £387.6m. An outward […]
US Solar Fund (USF) has announced its annual results for the financial year ending 31 December 2022. Over the 12 month period USF’s portfolio grew to 543MWDC. USF’s NAV fell slightly from its half-year level, falling from the $321.2m it reported in June to $320.0m. USF’s portfolio actually increased in value over the year, however […]
In QuotedData’s morning briefing for 27 March 2023: The Renewables Infrastructure Group (TRIG) has entered into a corporate Power Purchase Agreement with BT Group for Blary Hill onshore wind farm. Pricing has been agreed for the duration of the 10-year PPA on pay-as-produced terms. Located in Scotland, the windfarm has a 35MW capacity, consists of […]
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: • Scottish Mortgage (0:29) • Banking problems – SVB/Credit Suisse fallout (8:34) This week’s interview was with Richard Staveley from Rockwood Strategic – watch it […]
The dividend hero and next generation hero lists published by the AIC are a great marketing tool for the investment companies industry and tend to generate a considerable amount of press attention, despite being a relatively simplistic yardstick (funds that have grown their dividend every year for at least 20 and 10 years, respectively). However, […]
Starwood European Real Estate Finance (SWEF) has released its annual results or the year ended 31 December 2022. This was the last year of account for which SWEF was not in realisation mode as, post period end, shareholders approved a new investment objective and policy that will see an orderly realisation of the fund’s portfolio, […]
Dunedin Enterprise (DNE) has announced its results for the year ended 31 December 2022, the key financial highlights of which are as follows: Share price total return of 18.5% in the year to 31 December 2022 Net asset value total return of 21.7% in the year to 31 December 2022 Realisations of £36.9m in the […]
Downing Renewables & Infrastructure (DORE) has announced that, in response to the discount to NAV the trust has been trading at recently, the board intends to commence buying back shares in the market where it believes this to be in shareholders’ interests. Both the board and manager think that the prevailing discount materially undervalues both […]
Temple Bar has published results for the year ended 31 December 2022. Unfortunately, the trust underperformed the All-Share over the year, returning -2.0% in NAV terms versus +0.3% for the index. The share price did a bit better with a return of +3.6%, however, helped by a narrower discount. The chairman notes that, since Redwheel […]
Foresight Solar Fund has secured a pipeline of development-stage solar farms with a total potential capacity of 467MWp. The entire project rights have been secured from Grupo Cuerva, a renewable energy company and distribution network operator, and another Spanish developer. This strategic investment – codenamed “Project Lynx” – is located across the south and east […]
In QuotedData’s morning briefing 23 March 2023: Gulf Investment Fund (GIF) has launched its latest 100% tender offer. Shares that are tendered will be put into a realisatin pool on 12 April, the pool liquidated and the proceeds (less about $100,000 of expected tender offer costs) returned to shareholders. There is a minimum size threshold […]
BioPharma Credit (BPCR), the specialist life sciences debt investor, today announced the publication of its annual report for the year ending 31 December 2022. Company NAV was relatively stable, growing slightly over 2% while shares fell by around the same margin from the year prior. Earnings were the strongest in its history thanks predominantly to […]
Baillie Gifford Shin Nippon (BGS) has published its full-year results for the 12 months to 31 January 2023. Over the year the company’s NAV declined by 1.2% while its share price fell 8.9%, trailing the MSCI Japan Small Cap Index benchmark which returned 5.7%. Despite the underperformance, the discount narrowed slightly from its average of […]
VietNam Holding (VNH) released its half-year results for the period from 1 July 2022 to 31 December 2022. Shares fell 16.8% in USD, however the company still outperformed the benchmark Vietnam All Share Index, which was down 20.5%. The fund’s NAV per share declined by 30.1% against a 39.8% decline in the VNAS. During that […]
JPMorgan Global Core Real Assets (JARA) announced a quarterly NAV and portfolio update for the quarter to 28 February 2023. The company paid a dividend of 1.05 pence per share on 24 February 2023, bringing the share price total return for the quarter to +0.3% and +7.0% for the year, while the total NAV return […]
Following on from the wipeout of Silicon Valley Bank that David discussed in Friday’s QD view, the collapse of Credit Suisse and its eventual takeover by UBS have been hitting headlines in recent days. We have kept you in touch with the blogposts from the team at Polar Capital Global Financials Trust. As a major […]
EPE Special Opportunities (ESO) announced the company’s annual report for the year ended 31 January 2023. NAV fell 28% for the period, while shares dropped 45% reflecting the challenges that exist when investing in distressed, growth or buyout opportunities during periods of market turmoil. The discount widened to almost 50%. It’s difficult to draw too […]
Princess Private Equity (PEY / PEYS) shares fell 39.9% in 2022, well behind the MSCI World Index which fell 12.7%. New investment commitments in the second half of the year were also materially reduced and the company did not pay out the second interim dividend in order to conserve cash. NAV total return was much […]
The board of Scottish Mortgage Investment Trust has announced certain role changes on the board resulting from succession planning which it says has been developed and supported by all of the directors over the course of the last 12 months: Mr Justin Dowley, the senior independent director, will succeed Ms Fiona McBain as chair with […]
Crystal Amber Fund (CRS) announced results for the six months ended 31 December 2022. The total return was 4.4%, comfortably ahead of the benchmark Numis Small Cap Index return of 1.3%. Despite the solid performance, NAV fell 10% and the discount now sits at around 25% as the company continues to wind down after failing […]
The board of Dolphin Capital Investors has terminated the Investment Management Agreement (IMA) between the company and Dolphin Capital Partners (DCP) with immediate effect. It says that DCP “entered into an undisclosed option agreement with the purchaser of the Amanzoe resort in Porto Heli, Greece at the same time that the company sold its interest […]
LMS Capital (LMS) has released its final results for its financial year ending 31 December 2022. Over the year LMS reported an NAV decrease of -3.9%, or £1.9m. LMS’s portfolio was however flat over the year, as an increase in value of £2.2m on its new energy investment, Dacian Petroleum, was offset by an equal […]
In QuotedData’s daily briefing for 20 March 2023: City of London (CTY) has applied for a block listing of 26m shares, equal to 5% of the current circulation. Scottish Mortgage (SMT) has confirmed that Professor A Bhidé remains a director of the trust and has not resigned or been removed. Schroder European REIT (SERE) has […]
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 and Richard Williams covered the week’s top stories: • abrdn Latin American Income (0:23) • Blackstone Loan Financing (5:16) • Ediston Property Investment Company (9:11) • Scottish Mortgage (12:56) This […]
Silicon Valley Bank (SVB) was, I’m sure, a largely unknown financial institution for many of our readers. Though they would be forgiven for their past ignorance, given that SVB was focused on servicing clients in a specific sector, usually in another country, who were, more often than not, headquartered down the street from the bank. […]
