QuotedData’s other news 23 August 2019

In QuotedData’s other news 23 August 2019:

  • Africa Opportunity shrinks board – Chris Agar, Dr. Vikram Mansharamani, and Mr. Peter Mombaur resign as directors with effect from 22 August 2019 so that the trust can save money.
  • We have a raft of half-year reports:
    • BMO Private Equity made 2.4% in NAV terms and 13.7% in share price terms – its discount has fallen from 17.9% at the end of 2018 to 5.7% today.
    • EP Global Opportunities may have reported a 6.9% return on NAV for the first half of 2019 but that was almost 10% behind a global index. The main reason was an underweight exposure to US stocks.
    • City Merchants High Yield made 8.6% in NAV terms, 0.4% ahead of its benchmark, and 13.5% in share price terms.
    • BH Macro had a good first half – £ NAV up 9.0% and $ NAV up 9.7%. Again the discounts narrowed giving share price returns of 16.7% and 13.8% respectively.
    • NB Distressed has made some progress with distributing its assets to shareholders but now thinks the final distribution to its ordinary shareholders will be made later than planned, in 2020. The realisation process for the extended life and global share classes is expected to take until the end of 2020.
  • Better Capital will ask shareholders to give it an extra 18 months to wind up its 2009 fund.
  • Oakley Capital has moved from trading on AIM to the specialist funds segment of the main market
  • VinaLand is convening a meeting to liquidate the company

In addition, Woodford Patient Capital is writing down its asset value and Target Healthcare REIT has been adding to its portfolio again. Also Aberdeen Emerging appears to have fallen foul of rules on liquidity in its shares.


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