The Federal Reserve’s (Fed’s) cautious stance on further interest rate cuts, as expressed in their statement about “a lack of further progress” on inflation, that was made on Wednesday, marked a shift in market expectations in recent weeks. At the start of 2024, investors had been optimistic about a strong year, anticipating a series of […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Aberforth Split Level Income (0:33) • Chrysalis (6:24) Andrew McHattie highlighted a number of funds that were looking unusually cheap or expensive (10:24). This week’s interview […]
A newly established REIT – Special Opportunities REIT – has kicked off a roadshow ahead of an anticipated £500m IPO. As first reported by React News, the company will be led by former LXi REIT chief executive Simon Lee, with a number of former LXi personnel making up the senior management team – including Freddie […]
What’s the common factor shared by companies that can switch direction in the blink of an eye? They’re usually still led by visionary founders, as Scottish Mortgage manager Tom Slater explains. As with any investment, your capital is at risk. Most of us think of the Amazon Prime subscription service as a wonderful retention tool, […]
NextEnergy Solar Fund (NESF) is a market leading solar energy and energy storage fund, driven by a mission to lead the transition to clean energy. Learn more about NESF through the video and website linked below, or get in touch with: ir@nextenergycapital.com or check our website: NextEnergy Solar Fund.
Triple Point Social Housing REIT is working to transfer the leases of troubled tenant Parasol to another registered social housing provider that should result in greater rent collection. The company also said that it intends to make selective sales from its portfolio and return the proceeds back to shareholders through buy backs. Lease transfer As […]
Weiss Korea Opportunity Fund (WKOF) has announced its annual results for the year ended 31 December 2023. During the year, WKOF provided an NAV total return of -5.5% while, in comparison, its reference index, the MSCI South Korea 25/50 Net Total Return Index, appreciated by 14.8% (all in sterling equivalent terms). This underperformance amounts to […]
BioPharma Credit (BPCR) is providing debt financing to Novocure Luxembourg S.a.r.l. through a senior secured loan agreement. BPCR will invest up to US$200m and BioPharma-V will invest up to an additional US$200m in parallel, with BPCR acting as collateral agent. Under the terms of the transaction, the company will invest up to US$200m across four […]
In QuotedData’s morning briefing 3 May 2023: US Solar Fund (USF) has published a circular with details of the tender it announced on 24 April 2024 which it is proposing to use as a means of returning capital to shareholders. The proposed tender price of $0.764 per share is equivalent to the 31 December 2023 […]
Chrysalis Investments (CHRY) announced a trading update for the three month period to 31 March 2023. The company saw a 4.09 pence per share increase in NAV, equivalent to 2.3%. This was driven predominantly by movement in the fair value of the portfolio which added 5.15 pence per share, with foreign exchange generating an adverse […]
In QuotedData’s morning briefing 2 May 2024: European Assets Trust (EAT) announced that Mine Tezgul will succeed Sam Cosh as the company’s lead investment manager with immediate effect. Mine Tezgul is a portfolio manager in the European equities team and head of European small cap equities. Mine joined the manager in 2018 as an equity […]
Lord Forsyth of Drumlean, chair of the Financial Services Regulation Committee, has written to Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), pushing for a resolution to the cost disclosure issue that has been plaguing the investment companies sector. This is a very welcome intervention, we think, and hopefully it will add to […]
Aquila Energy Efficiency Trust (AEET) announced its annual results for the year end December 31 2023. The company saw a NAV total return of 0.3%, while shares fell 17.6%, leading the discount down to 39.3%. The company has made no new investments outside its existing commitments since the failed continuation vote back in Feb 2023 […]
Invesco Perpetual UK Smaller Companies (IPU) announced its annual results for the period ended 31 Jan 2024. The company saw NAV total return of -4.1%, slightly worse than the benchmark fall of -3.3%. Shares fell -3.1% while the discount narrowed to 11.1%. Longer term performance remains positive, with the cumulative NAV total return over the […]
In QuotedData’s morning briefing 1 May 2024: Picton Property (PCTN) has announced a 5.7% increase in its dividend, following recent portfolio activity and the repayment of floating rate debt. The interim dividend payment for the first quarter of 2024 (to be paid this month), will be 0.925p per share (Q4 2023: 0.875p per share). Picton […]
AI can be a daunting yet exciting prospect for many businesses. At Oakley’s recent AI Forum in London, they gathered leaders from across portfolio companies to network and share insights into how they are leveraging AI tools and data analytics to disrupt their markets and boost productivity. At this link, Oakley shares some of their […]
abrdn Property Income Trust reported annual results for 2023, in which NAV total return was -3.0%. The real estate investment portfolio returned 0.7%, which outperformed the MSCI Quarterly Property Index benchmark return of -1.5% over the same period. The company’s portfolio has outperformed the index over one, three, five and 10 years. The group’s NAV […]
Digital9 Infrastructure has published results for 2023. It published an NAV as at 31 December 2023 on 28 March of £728m or 84p per share. At that time, the board had obtained an independent valuation of Aqua Comms, Elio Networks, Arqiva Group and the potential earn-out payment of up to US $135m from the sale […]
Berlin residential landlord Phoenix Spree Deutschland has reported a 22.4% fall in EPRA net tangible assets to €3.96 per share (24.0% drop in sterling terms) in the year to 31 December 2023. The fall was mainly due to a 11.9% like-for-like drop in the value of its portfolio to €675.6m as buyer sentiment and transaction […]
Marwyn Value Investors has published results for the year ended 31 December 2023. The NAV total return on the ordinary shares for the year was 5.1%, for the 2016 realisation shares it was 5.0% and for the 2021 realisation shares it was 4.2%. Those figures compare to a return on the Small Cap Index of […]
In QuotedData’s morning briefing 30 April 2024: Gulf Investment Fund (GIF) says that the 1,157,160 shares that were tendered last month were valued at $2.5088 each or $2,903,083. Those investors that sold will get paid around 15 May 2024. Now that the sale of abrdn’s European private equity business to Patria Investments is complete, abrdn […]
Baker Steel Resources Trust (BSRT) has released its annual results for the 12 months ending 31 December 2023. Over the year BSRT’s NAV per share decreased by 2.8%, compared with the increase in the MSCI World Metals and Mining Index of 13.8%. BSRT’s share price fell by 15.1%, finishing the year on a 48.8% discount. […]
Ecofin U.S. Renewables Infrastructure Trust (RNEW) released its annual financial results for the 12 months ending 31 December 2023: RNEW reported a negative NAV total return of -5.5% and share price total return of -28.0%. NAV per share decreased from 94.3 cents per share to 85.2 cents. The company’s total NAV was $117.7m as of […]
Vietnam Enterprise Investments Limited (VEIL) has released its annual results for the 12 months ending 31 December 2023. VEIL has reported a NAV per share return of 10.5% over 2023, slightly below the Vietnam Index’s 11.1% gain, both in US$ total return terms. Over a 3-year period, VEIL still outperformed the Vietnam Index by 2.6%. […]
Blackstone Loan Financing (BGLF) has released its annual results for the 12 months ending 31 December 2023. BGLF reported a NAV total return of 10.39%, based on its published NAV, ending the period with a NAV of €0.9098 per share. BGLF also reports on an IFRS NAV basis, under which it returned a share price […]
Gresham House Energy Storage Fund (GRID) has released its annual results for the 12 months ending 31 December 2023. GRID’s NAV per share declined 17% to 129.07p as of 31 December 2023, down from 155.51p at the end of 2022. This was largely driven by a significant reduction in third-party revenue forecasts impacting project valuations. […]
The board of Aberforth Split Level Income Trust (ASIT) had, in its interim report published on 29 January 2024, shared its views on a possible wind-up of the company. Today it has provided an update. The board has reached agreement in principle with Aberforth Geared Value & Income Trust (AGVIT), a soon-to-be-launched trust, on the […]
Supermarket Income REIT has acquired a portfolio of Carrefour supermarkets in France – its first foray into markets outside the UK – through a sale and leaseback transaction for €75.3m, reflecting a net initial yield of 6.3%. The portfolio comprises 17 omnichannel supermarkets, which are geographically diversified, with a weighting towards northern France, and operated […]
The board of Hipgnosis Songs Fund (SONG) has recommended that shareholders accept the $1.30 per share offer made by Blackstone Europe, via its wholly-owned investment subsidiary Lyra Bidco. The $1.30 offer, equivalent to £1.04, would represent a 4% premium to the revised Concord offer of $1.25 (made on 24 April 2024), the other competing party […]
In QuotedData’s morning briefing 29 April 2024: Literacy Capital (BOOK) has announced its Q1 2024 NAV as well as providing a quarterly trading update. It generated a NAV total return of 2.0%, an uplift of £6.0m (10.0p per share), bringing its NAV per share to 510.4p, or total NAV of £306.2m. BOOK had cash inflows […]
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