CC Japan Income and Growth has pubished results covering the 12 months ended 31 October 2022. Over that period, the trust’s NAV return was -5.9% and the return to shareholders -7.1%. By contrast, the TOPIX index returned -9.5% The revenue return per share improved from 4.75p to 5.14p and from this the company declared dividends […]
In QuotedData’s morning briefing 24 January 2023: JPMorgan Global Income & Growth (JGGI) says its C share portfolio now has 77% commonality with its ordinary share portfolio. The C share portfolio contains holdings from JPMorgan Elect Managed Growth that the managers thought it might take some time to sell. The board decides when the time […]
Edinburgh Worldwide Investment Trust (EWI) has released its results for the financial year ending 31 October 2022. Over this 12 month period EWI generated a NAV total return of -40.3% and share price total return of -46.0%. This compared to the -6.8% return of the trust’s comparative index, the S&P Global Small Cap Index. Despite […]
Urban Logistics REIT has acquired five new assets for a total of £48m at a net initial yield of 6.0%. It has bought a portfolio of four assets for £39.5m at blended 6.1% net initial yield. All of the assets in the portfolio are immediately income producing but with short or medium term asset management […]
In QuotedData’s morning briefing 23 January 2023: Riverstone Credit Opportunities Income (RICO) has announced that its investment managers have executed a new $28.6m sustainability-linked, first lien term loan to a subsidiary of Max Energy Industrial Holdings, having committed $5.0m on 30 December 2022. Max energy is developing the first carbon-neutral crude oil export terminal on […]
The lunar new year is upon us this weekend, bringing with it the year of the rabbit. According to the Chinese zodiac, the rabbit is associated with vigilance, quick wittedness, and ingenuity; and anyone born in 2023 will be born under the ‘water’ rabbit, and is expected to turn around the hardships of their youth. […]
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: • Ruffer (0:42) • Octopus Renewables (9:19) This week’s interview was with Stephanie Sirota from RTW Venture Fund – watch it again here.
HarbourVest Global Private Equity (HVPE) has announced its estimated NAV per share as at 31 December 2022 at US$48.04 (£39.76); up 0.2% in US dollar terms over the month (which reflects the currency movement). HVPE says that, for this estimate, 7% of its portfolio is valued at 31 December 2022, this being the public companies […]
Octopus Renewables Infrastructure Trust (ORIT) has announced its target dividend for the current financial year (ending 31 December 2023) at 5.79p per share. This is an increase of 10.5% over ORIT’s dividend target for the financial year just ended of 5.24p per share. ORIT says it is on track to deliver its target for the […]
Home REIT’s investment advisor has hired a property manager to help the embattled homeless accommodation landlord to review its portfolio and recover rent arrears. Alvarium Home REIT Advisors has entered into an agreement with Simpact Group, a specialist social housing property manager, to “accelerate and further support the investment adviser’s ongoing asset management and monitoring […]
The Bankers Investment trust has announced results covering the 12 months ended 31 October 2022. Over that period, the NAV total return was -11.3% underperforming the World Index by 8.5%. A widening discount meant that the share price total return was -13.4%. The wider discount emerged even though 18.2m shares (1.5% of the company) were […]
Trian Investors 1 is preparing to make an in-specie distribution of the Ferguson plc shares which were distributed from Trian Investors 1, L.P. to the Company on 6 January 2023. In exchange, there will be a compulsory partial redemption of Trian Investors 1 ordinary shares. The share distribution will be based on investors’ holdings of […]
3i Infrastructure has published a quarterly update covering the final quarter of 2022. It says that overall the portfolio performed well, exceeding the expectations set in September 2022, and continues to deliver strong performance. The board believes that the company is on track to deliver its dividend target of 11.15p for the financial year ended […]
Foresight Sustainable Forestry says that its June 2022 equity fundraising proceeds have now been fully deployed. This follows the completion of eleven purchases and provides an update on the development of afforestation properties (where it is planting trees into land that is currently not forest) in the portfolio. New investments The trust has deployed a […]
In QuotedData’s morning briefing 19 January 2023: NB Private Equity (NBPE) reports an NAV at the end of December of $27.94 (£23.23), down 8.9% over 2022. Seven full or partial sales (totalling $143m) announced in 2022 include: the remaining assets of Telxius, the announced full sales of Leaseplan and Omega Environmental Technologies, the final sale […]
JPMorgan Global Growth & Income (JGGI) has announced that James Cook (pictured) is joining its portfolio management team to work alongside current portfolio managers, Helge Skibeli and Tim Woodhouse, while Rajesh Tanna, a co-portfolio manager since 2019, is moving on to focus on other portfolio management responsibilities within JPMorgan Asset Management. JGGI says that James, […]
In QuotedData’s morning briefing 18 January 2023: BH Macro (BHMG/BHMU) has announced that it is contemplating an equity raise in response to strong demand for its shares. It says that this would help satisfy further market demand and improve liquidity, alongside spreading its fixed costs across a wider share capital base. Further details will be […]
In QuotedData’s morning briefing 17 January 2023: Gulf Investment Fund (GIF) reports that over the final quarter of 2022, its NAV fell by 3.8%, outperforming the S&P GCC Index, which fell by 6.1%. In fact, 4Q 2022 was one of the worst quarters for Qatar and Saudi Arabia in past 10 years. Qatar fell 15.9% […]
Ruffer Investment Company (RICA) released its annual results for the 12-month period ending December 2023. Ruffer generated a NAV total return of 8.0% and share price total return of 7.3%. Its since inception return of 7.8% is ahead of UK equities but with a much lower level of volatility and drawdowns. The driver of Ruffer’s […]
TwentyFour Select Monthly Income Fund (SMIF) has released its annual report for the financial year ending 30 September 2022. Over the twelve-month period TwentyFour Select Monthly Income reported a NAV total return of -18.94%, below its target return of 8-10%. A total dividend of 6.39p was declared over the financial year, meeting the trust’s target […]
In QuotedData’s morning briefing 16 January 2023: ThomasLloyd Energy Impact Trust (TLEI) has announced that it has successfully completed the acquisition of the remaining 57% economic interest in SolarArise India Projects Private Limited, taking its total ownership to 100%, having purchased the initial 43% in August 2022. The consideration of $38.5m was funded from existing […]
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: • Digital 9 Infrastructure (0:47) • AT85 Infrastructure (11:51) This week’s interview was with Thao Ngo from Vietnam Enterprise – watch it again here. previous […]
A defining feature of 2022 was the strength of the US dollar, which shaped asset class returns for many investors over the year. The slump in the yen grabbed fewer headlines, but has been an important factor for the performance of Japanese equities. Its reversal may drive Japan’s financial markets in the year ahead. At […]
Apax Global Alpha (AGA) has announced that the Apax VIII Fund, in which AGA is a limited partner, has announced that its portfolio company Duck Creek Technologies has entered into a definitive agreement to be acquired by Vista Equity Partners for US$19.00 per share in cash. The transaction values AGA’s current look-through investment in Duck […]
In QuotedData’s morning briefing 13 January 2023: Marble Point Loan Financing says that Investcorp, a leading global alternative investment firm, has effective today acquired Marble Point Credit Management LLC, the fund’s investment manager. We also have news of a disposal by Apax
Supermarket Income REIT has acquired a further 25.5% stake in a portfolio of Sainsbury’s supermarkets for £196m, resulting in its ownership of the joint venture increasing to 51%. The company bought the stake in the joint venture portfolio of 26 stores from British Airways Pension Trustees Limited. The remaining 49% interest in the portfolio is […]
In QuotedData’s morning briefing 12 January 2023: Marwyn Value Investors has recognised a further £5m of recoverable VAT in its NAV (relating to its historic investment in Praesepe, as before). £4.33m or 7.8p per share is added to the ordinary share NAV, £0.53m or 56.7p is added to the 2016 realisation share NAV and £0.03m […]
Digital 9 Infrastructure (DGI9) has released a trading update that covers its performance to the 30 September 2022. The key highlights are as follows: The Group’s diversified portfolio of eight high-quality data centre, subsea fibre, and wireless network assets (together, the “Investee Companies”) has performed strongly during the period to 30 September 2022. The Company […]
In QuotedData’s morning briefing 11 January 2023: PRS REIT (PRSR) provided a trading update for the quarter to 31 December 2022 in which it completed 57 new rental homes brining the company’s portfolio to 4,913 as at 31 December 2022. The delivery programme is around 85% complete, with 613 additional homes contracted and at various […]
AT85 Global Mid-Market Infrastructure Income, which published an intention to float announcement on 21 November 2022 but then postponed the publication of its prospectus given the turmoil in markets, is now ready to push the button on its IPO. It is looking for £300m to invest in a portfolio of midmarket core-plus essential infrastructure or […]
