QuotedData’s morning briefing 3 September 2020

Ashoka India Equity

In QuotedData’s morning briefing 3 September 2020:

  • Ashoka India provides an annual redemption facility to its shareholders. This year, just 367,616 shares (0.54% of the issued share capital) were requested to be redeemed.
  • Tritax Big Box REIT has completed its sale of an asset in Chesterfield for £57.3m. The buyer was Warehouse REIT (see separate story). Tritax says it made an IRR of 18.5% on the asset – helped considerably in 2018 by agreeing the early surrender of the existing lease to Tesco and securing a new 15 year lease to Amazon.
  • Miton UK Microcap made a positive return of 19.1% over the first eight months of 2020, outperforming index benchmarks by a wide margin. The share price has not kept pace with this, however, lagging the NAV by almost 15%. The board thinks the fund’s running expenses are too high. It has agreed with Premier Portfolio Managers Limited, the investment manager, to reduce the annual management fee with effect from 1 September 2020. The fee has fallen from 1.0% to 0.9% of market capitalisation.
  • Foresight Solar’s NAV has fallen from 103.8p to 96p over the first half of 2020, driven by falling power price forecasts. The company says it is still on track to meet its dividend target for this year of 6.91p.
  • The Hut Group has confirmed that it intends to float on the London Stock Exchange. At the end of June this was the fourth-largest stock in Merian Chrysalis’s portfolio, accounting for 12% of the portfolio.
  • Baillie Gifford has cut its stake in Tesla to 4.25% citing problems with over concentration within its portfolios.

We also have results from Baillie Gifford US Growth

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