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QuotedData’s morning briefing 17 July 2020

phone conference call

In QuotedData’s morning briefing 17 July 2020:

  • BMO Private Equity Trust has announced the appointment of Nplus1 Singer Advisory LLP as its sole corporate broker, with immediate effect.
  • Tetragon Financial Group (TFG) will be hosting a conference call for investors on Friday, 31 July 2020 at 15:00 BST / 10:00 EDST. The call is to discuss TFG’s interim report and to provide investors with an update. Investors can email their questions for the investment manager to ir@tetragoninv.com. The call can accessed by dialling +44 (0) 800 358 9473 in the UK and +1 855 857 0686 in the United States. The Participant Pin Code is 76156197#. The call will be accompanied by a live presentation which can be viewed online by registering at the following link:

https://onlinexperiences.com/Launch/QReg/ShowUUID=E552CBD0-27E5-49DA-BB6F-40D069DFB449

  • Herald (HRI) has published interim results for the six months ended 30 June 2020, during which it has provided a positive return of 7.6% in NAV per share. This is despite the challenging market conditions that materialised as the world was locked-down in the face of the global pandemic. To summarise, HRI’s overseas investment portfolios contributed positively, while its UK portfolio experienced a small negative return. However, this was substantially better than various UK indices. The manager says that “It is evident to us all how much the development of the internet has enabled the economy to function as well as it has in lockdown. Working from home has assisted the majority of the Company’s investments to continue trading profitably through the period. The outcome for the full year remains uncertain, but on average the profits of companies owned by the Company will be lower than we expected at the start of the year. A few holdings have been materially damaged, whilst others have actually benefited”.
  • SQN Asset Finance Income’s ordinary shareholders voted to continue the company but the C shareholders did not. The board will formulate proposals to be put to C shareholders as soon as is reasonably practicable but, in any event, by no later than six months after the EGM, for the C share portfolio to be placed into managed wind-down with the aim of enabling C Shareholders to realise their holdings in the company.

We also have written about Personal Assets annual results – during the year to 30 April 2020, it bucked the trend providing a positive NAV return of 5.3%, substantially outperforming the All-Share, which fell 19.8%.

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