QuotedData’s other news 26 November 2019

In QuotedData’s other news 26 November 2019 –

  • Schroder Real Estate (SREI) reported half-year results to 30 September 2019, with its real estate portfolio posting a total return of +2.5% over the period versus +1.0% by the MSCI/IPD Benchmark Index. There were £45 million of disposals during and post the period end. The company added that it has a funding capacity of approximately £90m.
  • LXI Reit (LXI) also reported interim results to end-September, delivering EPRA NAV growth of +4.3%. Stephen Hubbard, LXI’s chairman, noted: “The forecast for UK inflation continues to compare favourably to open market rental growth forecasts over the medium-term. With 96% of our rents containing inflation-linked or fixed uplifts we are positioned well to benefit from this as well as the material spread between growth of the inflation indices and open market rental growth since the company’s IPO through rent reviews.”
  • Self-managed investment trust, Caledonia Investments’s (CLDN) interim results period (also to end-September) saw total return NAV come in at +4.9%. The company aims to deliver returns of between RPI +3% to +6% over the medium term and outperform the FTSE All-Share Total Return index over ten years.
  • Henderson Alternative Strategies (HAST) reported interim results (to end-September), delivering NAV and share price total returns of +0.1% and +0.5%. Richard Gubbins, chairman of HAST, noted: “Shorter-term political risks persist, particularly with regard to the outcome of the imminent UK December election (and resultant consequences for raised government spending), to external investment confidence (in the UK) and to the future outcome of Brexit. Longer-term risks are centred on global growth and specifically the unresolved trade and tariff dispute between the US and China which may yet spread to Europe. Despite such threats, public equity valuations seem accommodative of some further momentum in equity markets.”

We also have results from Gresham House Strategic, including commentary from its managers, and news that Polar Capital Global Financials will explore whether and on what basis shareholders might be offered the ability to maintain their exposure to the company’s underlying asset class, as the trust approaches the end of its fixed-life (May 2020). 

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