QuotedData investment companies roundup – November 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2017. Kindly sponsored by Baillie Gifford.
Globalworth Real Estate’s discount was eliminated after it announced an investment in Poland and its directors bought shares. EF Realisation’s discount narrowed on the back of a modest NAV uplift. Duke Royalty announced a new financing agreement. FastForward Innovations said its investment, Nuuverra, may go public. Dunedin Enterprise sold Kee Safety, making 3x its money. Symphony International sold some investments. Electra announced another return of cash. ICG Enterprise’s interim results were well received. Macau Property Opportunities’ managers bought shares. Indian small and medium cap specialist, India Capital Growth, had a strong month. The technology sector continued to shine around the world, boosting funds like Allianz Technology and Polar Capital Technology. Japan also did well as the market welcomed the re-election of Shinzo Abe.
LXB Retail Properties released a disappointing trading update. Blue Capital Alternative Income and CatCo Reinsurance Opportunities continued to suffer from hurricane related NAV write downs . The Biotech market was weak after some leading players announced disappointing results. This affected funds such as Biotech Growth and Woodford Patient Capital. Qatar (the row with its neighbours) and Brazil (ongoing worries about corruption) were both out of favour. There was little stock-specific news on UK Commercial Property but its shares moved to trade at a small discount. Ranger Direct Lending’s share price continued to slip but, since the quarter end, it has announced that it may be looking to introduce a new co-manager.