Undervalued by offer We believe that the revised bid of €8.30 per share for Lar España Real Estate, from a consortium that includes its manager Grupo Lar and US private equity firm Hines, still undervalues the company and its future prospects. The enterprise value implied by the bid price of €1,130m is a considerable discount […]
Undervalued by offer We believe that the revised bid of €8.30 per share for Lar España Real Estate, from a consortium that includes its manager Grupo Lar and US private equity firm Hines, still undervalues the company and its future prospects. The enterprise value implied by the bid price of €1,130m is a considerable discount […]
Revised offer substantially discounts LRE Lar España Real Estate has received a revised bid of €8.30 per share from a consortium that includes its manager Grupo Lar and US private equity firm Hines. However, the enterprise value implied by the bid of €1,130m is a considerable discount to the value of the portfolio of €1,304m […]
Momentum building Share prices among real estate investment trusts (REITs) and listed property companies staged a recovery over the third quarter of 2024, collectively rising 5.1% on average (as shown in the chart to the right). This is still just below where they started at the start of the year, but downward interest rate expectations […]
Residential rebound In the year’s third quarter, US inflation continued to fall, forming a positive economic picture for the country, with strong wage growth and low unemployment. In the lead up to the Federal Reserve’s rate cut on 18 September, the first in four years, the technology sector underwent a sell-off that saw Nvidia’s share […]
Geared to growth European Opportunities Trust (EOT), the most growth-focused of its peers, has posted decent absolute returns during the last couple of years but has been held back by its strong growth focus in an environment where inflation has been more stubborn than anticipated. There are signs that this is now changing and, if […]
Geared to growth European Opportunities Trust (EOT), demonstrably the most growth-focused of its peers (see page 18), has posted decent absolute returns during the last couple of years but appears to have been held back by its strong growth focus in an environment where inflation has been more stubborn than markets have anticipated. There are […]
Geared to growth European Opportunities Trust (EOT), the most growth-focused of its peers, has posted decent absolute (positive) returns during the last couple of years but has been held back by its strong growth focus in an environment where inflation has been more stubborn than anticipated. The associated higher interest rates tend to impact growth […]
Historic opportunity Over the past three years, the Temple Bar Investment Trust (TMPL) has delivered a share price total return of 40%, comfortably outperforming both its benchmark index and the wider UK equity income peer group. Impressively, the company is also well ahead of high-flying US indices over this period, highlighting the attractions of investing […]
Historic opportunity Over the past three years, the Temple Bar Investment Trust (TMPL) has delivered a share price total return of 40%, comfortably outperforming both its benchmark index and the wider UK equity income peer group. The company is also well ahead of high-flying US indices over this period, which, the managers note, highlights the […]
Historic opportunity Over the past three years, the Temple Bar Investment Trust (TMPL) has delivered a share price total return of 40%, comfortably outperforming both its benchmark index and the wider UK equity income peer group. Impressively, the company is also well ahead of high-flying US indices over this period, highlighting the attractions of investing […]
In this week’s show, James Carthew spoke to Katie Potts from Herald Investment Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer to watch […]
Conviction drives returns Having delivered impressive returns through 2023, Japanese markets have continued to rise this year, although it has not been entirely smooth sailing for the world’s third-largest economy. A tumbling currency and a 41-year high for inflation set the stage for successive interest rate hikes for the first time in almost two decades. […]
Conviction drives returns Having delivered impressive returns through 2023, Japanese markets have continued to rise this year, although the manager notes that it has not been entirely smooth sailing. A falling yen and a 41-year high for inflation set the stage for successive rate hikes for the first time in almost two decades. The second […]
Conviction drives returns Having delivered impressive returns through 2023, Japanese markets have continued to rise this year, although it has not been entirely smooth sailing for the world’s third-largest economy. A tumbling yen and a 41-year high for inflation set the stage for successive rate hikes for the first time in almost two decades. The […]
In this week’s show, James Carthew spoke to James Armstrong from Bluefield Solar Income. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer to watch […]
October 2024 Winners and losers in September 2024 Best performing funds in price terms (%) Harworth Group 17.0 Life Science REIT 14.7 Hammerson 12.0 Balanced Commercial Property Trust 10.2 Phoenix Spree Deutschland 8.6 PRS REIT 8.5 abrdn Property Income Trust 8.3 Target Healthcare REIT 7.9 Custodian Property Income REIT 7.6 Tritax EuroBox 7.1 Source: Bloomberg, […]
October 2024 Monthly | Investment companies Kindly sponsored by abrdn Winners and losers in September 2024 The Dow Jones and S&P 500 hit record levels over September, whilst the price of gold reached its all time high, with a 28% increase since the start of the year. Against optimism from Jerome Powell on the state […]
The UK economy grew slightly slower in Q2 than previously thought, with an expansion of 0.5% as opposed to the expected 0.6%. The Bank of England maintained its 5% interest rate in its September meeting, citing assumptions of slight rises in inflation, spurred on by higher energy prices. Despite improved stability since July’s change of […]
In this week’s show, James Carthew spoke to Richard Brown from Castelnau Group. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer to watch and […]
In this week’s show, James Carthew spoke to Paul Niven from F&C Investment Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer […]
Please don’t go Following its recent tender offer, Gulf Investment Fund’s (GIF) future is at risk as the board is proposing a windup of the trust. We believe a strategy as successful and distinctive as GIF’s merits continuation. Details of the proposed windup measures and our opinions can be read on page 3. The GCC […]
Please don’t go Following its recent tender offer, Gulf Investment Fund’s (GIF) future is at risk as the board is proposing a windup of the fund (a sale of the trust’s assets with the proceeds returned to shareholders after the costs of liquidating the fund have been deducted). We believe a strategy as successful and […]
Please don’t go Following its recent tender offer, Gulf Investment Fund’s (GIF) future is at risk as the board is proposing a windup of the trust. GIF has outperformed its peers and global indices over the longer-term and offers exposure that can be difficult for some investors, particularly smaller ones, to access. Because of this, […]
On Friday’s show, James Carthew covered the week’s top stories and hosted a panel discussion between David Bird from Octopus Renewable Infrastructure Trust, Neil Hermon from Henderson Smaller Companies Trust, Georgina Brittain from JPMorgan UK Small Cap Growth & Income and Duncan Ball from BBGI Global Infrastructure. If you were looking for the first part […]
In a class of its own Oakley Capital Investments (OCI) delivered positive NAV growth over the first half of 2024, a period that also saw significant investment activity. OCI invests in funds managed by Oakley Capital, which in turn invest in unquoted, profitable, pan-European businesses with recurring revenues, and across four core sectors: technology, education, […]
In a class of its own Oakley Capital Investments (OCI) delivered solid NAV growth over the first half of 2024, a period that also saw significant investment activity. OCI invests in funds managed by Oakley Capital, which in turn invest in unquoted, profitable, pan-European businesses with recurring revenues, and across four core sectors: technology, education, […]
In a class of its own As we show on page 15, Oakley Capital Investments (OCI) delivered solid net asset value (NAV) growth over the first half of 2024, a period that also saw significant investment activity. OCI invests in funds managed by Oakley Capital (a list of these is in Figure 8 on page […]
A new powerhouse In recent years, we have highlighted the success of Alliance Trust’s (ATST) investment approach, which has, on average, outperformed the MSCI ACWI index over any given 12-month period (sampled weekly – see page 12). This success was an important factor in ATST’s selection as a merger partner for Witan (WTAN), another global […]
A new powerhouse In recent years, we have highlighted the success of Alliance Trust’s (ATST) investment approach, which has, on average, outperformed the MSCI All Countries World Index (MSCI ACWI) over any given 12-month period (sampled weekly – see page 12). This success was an important factor in ATST’s selection as a merger partner for […]
