Overview
Tufton Oceanic Assets aims to provide investors with an attractive level of regular and growing income and capital returns through investing in a diversified portfolio of secondhand commercial sea-going vessels. The company will make investments through one or more underlying SPVs.
The company is targeting an initial dividend yield of 5% during the first 12 months following admission rising to a target dividend yield of 7% thereafter. The dividend is expected to grow modestly over the long term. The company will target an IRR of 12% per annum (net of expenses and fees) on a NAV basis on the issue price over the long term.
You can access the fund’s website here
Fundamentals
Price
Research History
-
17 Apr 2020 12 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
-
07 Apr 2020 11 min read
QuotedData’s Investment Companies Roundup – April 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over March: An update note […]
-
7 min read
QuotedData’s Economic Roundup – April 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
-
24 Jan 2020 28 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
-
07 Oct 2019 7 min read
QuotedData’s investment companies roundup – October 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over September, we published notes on India Capital Growth, Jupiter Emerging & Frontier, International Biotechnology Trust, JPMorgan Russian Securities, Civitas Social Housing, Montanaro European Smaller Companies and JLEN Environmental Assets. We also launched a monthly real estate roundup, beginning with reviews of August and September. In […]
-
8 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
-
08 May 2019 4 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
-
13 Nov 2018 1 min read
QuotedData’s investment companies roundup – November 2018
QuotedData’s investment companies roundup – November 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2018. Kindly sponsored by Baillie Gifford. Winners and losers in October In what was generally a miserable month for equity markets, Brazil shone […]
-
16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
-
12 Oct 2018 1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
-
25 Apr 2018 2 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
-
13 Mar 2018 2 min read
QuotedData’s investment companies roundup – March 2018
QuotedData investment companies roundup – March 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2018. Kindly sponsored by Baillie Gifford. Equity markets continued to run up in early February, supported by strong corporate earnings […]
-
18 Jan 2018 2 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
News
-
02 Mar 2021 2 min read
QuotedData’s morning briefing 2 March 2021
In QuotedData’s morning briefing 2 March 2021: Syncona (SYNC) notes that Achilles Therapeutics, a clinical-stage biopharmaceutical company developing precision T cell therapies to treat solid tumours, announced it has filed a registration statement in relation to a proposed IPO. Syncona owns 44% of Achilles which it values at £72.4m. RTW Venture Fund (RTW) participated in a Series […]
-
21 Jan 2021 2 min read
QuotedData’s morning briefing 21 January 2021
In QuotedData’s morning briefing 21 January 2021: Schroder BSC Social impact says it has committed over 80% and invested over 55% of the net proceeds of its IPO. Most of the money went into buying seven investments that were listed in the prospectus. It has also bought £2.5m of bonds issued by Triodos Bank. Triodos lends to […]
-
14 Jan 2021 2 min read
QuotedData’s morning briefing 14 January 2021
In QuotedData’s morning briefing 14 January 2021: Polar Capital Global Financials has published a circular to convene a meeting on 1 February at which shareholders will be asked to approve the issue of up to 70,375,000 shares from treasury without pre-emption (first offering them to existing shareholders). The shares will be issued at a premium and […]
-
11 Jan 2021 1 min read
QuotedData’s morning briefing 11 January 2021
In QuotedData’s morning briefing 11 January 2021 – Tufton Oceanic Assets (SHIP) announced the acquisition of a stainless steel Chemical Tanker for $15.2m, taking its fleet size to twenty vessels. SHIP says it will be employed in a leading chemical tanker pool. Ground Rents Income Fund (GRIO) has responded to leasehold reform proposals that would reduce […]
-
05 Jan 2021 2 min read
Tufton adds another ship to portfolio
Tufton adds another ship to portfolio as core management team ups its stake in the manager. Tufton Oceanic Assets has acquired a containership for $6.75m. This takes its fleet to 19 vessels. The vessel has a fixed rate time charter of at least three years to a major container line which is investment grade. It is […]
-
09 Nov 2020 2 min read
QuotedData’s morning briefing 9 November 2020
In QuotedData’s morning briefing 9 November 2020 – Tufton Oceanic Assets (SHIP) has agreed to divest one Suezmax Tanker for $19m. The divestment will reduce the company’s fleet from nineteen to eighteen vessels. SHIP says that the realised yield and internal rate of return (IRR) will greatly exceed the targets expressed in its prospectus. This will be the […]
-
05 Oct 2020 1 min read
QuotedData’s morning briefing 5 October 2020
In QuotedData’s morning briefing 5 October 2020: Tufton Oceanic (SHIP) announced the acquisition of two product tankers for an outlay of $23m, taking the fleet to 18 vessels. Both vessels have fixed-rate time charters deals for three to five years with a major commodity trading and logistics company. We also have news of a $182m […]
-
24 Sep 2020 3 min read
Flat year for Tufton Oceanic
Flat year for Tufton Oceanic – over the year ended 30 June 2020, Tufton Oceanic Assets generated an NAV return of -0.7%. Within that, the company declared dividends of 7 cents and saw its NAV fall from $1.005 to $0.931. The target for this year’s dividend remains at 7 cents (quarterly payments of 1.75 cents). […]
-
27 Mar 2020 1 min read
Tufton Oceanic Assets acquires Handysize Bulk Carrier for US$7m
Tufton Oceanic Assets Limited (SHIP) has announced that it has acquired a Handysize Bulk Carrier for US$7.0m. This acquisition takes SHIP’s fleet to sixteen vessels, leaving it with approximately US$15m of cash available for investment. SHIP’s manager, Tufton Oceanic, continues to identify a pipeline of opportunities across a range of the company’s target sectors. About the […]
-
04 Mar 2020 1 min read
Tufton Oceanic largely insulated from shipping sell-off so far
In light of the coronavirus (Covid-19) afflicted volatility across markets, Tufton Oceanic (SHIP) has provided an update. The company says its strategy of portfolio diversification and strong charter coverage has insulated SHIP from the recent market volatility caused primarily by Covid-19. The company’s update made the following points: Year to date, fair value losses in containerships […]
-
03 Feb 2020 1 min read
Tufton makes first sales
Tufton makes first sales – Tufton Oceanic Assets has sold three General Cargo vessels for $19.3m. The divestment reduces the company’s fleet from seventeen to fourteen vessels. The realised yield and IRR exceed the targets expressed in Tufton Oceanic’s prospectus dated 25 September 2018. This is the company’s first divestment. It goes on to say that […]
-
10 Oct 2019 1 min read
QuotedData’s other news 10 October 2019
In QuotedData’s other news 10 October 2019 AVI Japan is asking shareholders to approve an issue of up to 14,365,000 shares to Finda Oy, its largest shareholder, as part of a larger placing to be held in November. Tufton Oceanic Assets has agreed to acquire a Containership for $8.75m, taking its fleet to seventeen vessels. The […]
-
30 Sep 2019 1 min read
Tufton Oceanic bulks up fleet with $19.9m crude oil vessel
Tufton Oceanic bulks up fleet with $19.9m crude oil vessel – Tufton Oceanic Assets (SHIP) has announced it has agreed to acquire a crude oil tanker for $19.9m. This acquisition will take the company’s fleet to sixteen vessels. The vessel is time chartered to a major tanker operator for two years at a fixed floor […]
-
24 Sep 2019 1 min read
QuotedData’s other news 24 September 2019
In QuotedData’s other news 24 September 2019 Starwood European Loan Finance has lent a developer £56.8m for two years. The money will be used to complete a residential development in London. Also the final €15m lent to a European industrial portfolio has been repaid. This leaves SWEF with net cash of £5.5m against unfunded commitments of […]
-
20 Sep 2019 1 min read
QuotedData’s other news 20 September 2019
In QuotedData’s other news 20 September 2019 – Tufton Oceanic Assets today announced that it has raised gross proceeds of $31m through a placing. The company invests in a portfolio of secondhand commercial sea-going vessels. Further to announcements made earlier this month with regard to a proposed placing, Merian Chrysalis says that indicative orders significantly in excess of […]
-
11 Sep 2019 2 min read
Tufton topping up funds again
Tufton topping up funds again – Tufton Oceanic Assets launches placing after results show a flat year in NAV terms to end June 2019. Ship leasing firm, Tufton Oceanic Assets, has just released results covering the year ended 30 June 2019. Highlights from the statement include: Profit of US$16.4m, or 11.94 US cents per ordinary share […]
-
01 Jul 2019 1 min read
QuotedData’s other news 1 July 2019
In QuotedData’s other news 1 July 2019 Symphony International (SIHL) announced that it has, through a wholly-owned subsidiary, invested in Creative Technology Solutions. The company provides customized IT solutions to the education sector in the United Arab Emirates and increasingly in other countries in the Gulf Cooperation Council region. This represents SIHL’s first investment into the Gulf. […]
-
1 min read
Tufton Oceanic buys $28.3m vessel
Tufton Oceanic buys $28.3m vessel – Tufton Oceanic (SHIP) has reached an agreement to acquire a containership for $28.6m. The new ship will take the company’s fleet size to 15 vessels. The new ship has a time charter of approximately 5.5 years to a major container line and SHIP says it is going to invest […]
-
03 Apr 2019 1 min read
Tufton Oceanic buys two cargo ships for $13.5m
Tufton Oceanic buys two cargo ships for $13.5m – Tufton Oceanic (SHIP) is growing its vessel fleet to 14 after striking a deal to acquire two general cargo ships for $13.5m. They will be the first investments made from the proceeds of a placing announced in March, where $50m was raised. Click here to read […]
-
21 Feb 2019 2 min read
Tufton Oceanic Assets fully invested and proposing a USS$75m capital raise
Tufton Oceanic Assets (SHIP) has announced that it has agreed to acquire one general cargo vessel for $6.75m. This purchase will take the Company’s fleet to twelve vessels and, following the purchase, SHIP says that its “capital resources are now fully committed”. It has since announced its intention to raise up to $75m by way […]
-
11 Dec 2018 2 min read
Tufton Oceanic Assets continues to deploy c share proceeds
Tufton Oceanic Assets has announced that it has agreed to acquire two product tankers for a total of $36m. These acquisitions will be the third and fourth investments made from the c share proceeds announced on 11 October 2018 and will take the Company’s fleet to ten vessels. Limited information is provided in the announcement, […]
-
23 Nov 2018 1 min read
Tufton Oceanic Assets Limited buys two containerships
Tufton Oceanic Assets Limited buys two containerships- Tufton Oceanic Assets Limited has acquired two containerships for US$13 million. The first containership is designed to haul fresh fruit all over the globe and the second ship is an LPG Carrier that they bought a 75% stake on 25 July 2018. Tufton purchased the remaining 25% stake […]
-
20 Sep 2018 2 min read
Tufton Oceanic invests US$12.9m in a Handysize Bulk Carrier
Tufton Oceanic invests US$12.9m in a Handysize Bulk Carrier – Tufton Oceanic Assets (SHIP) has agreed to acquire a Handysize Bulk Carrier for $12.9m. What is a Handysize Bulk Carrier? Handysize is a naval architecture term for smaller bulk carriers or oil tanker with deadweight of up to 50,000 tonnes. Their small size allows Handysize vessels to enter […]
-
25 Jul 2018 1 min read
Two new vessels for Tufton Oceanic Assets
Two new vessels for Tufton Oceanic Assets – Tufton Oceanic Assets (SHIP) has announce that it has agreed to acquire a 75% interest in a LPG carrier for $21.75 million and a 100% interest in a Handysize Bulk Carrier for $10 million. LPG carrier – bareboat charter of seven years. The LPG carrier will have a bareboat […]
-
12 Mar 2018 1 min read
Tufton buys two vessels
Tufton buys two vessels – The Board of Tufton Oceanic Assets Limited has announced that the company has acquired two sub-Panamax containerships for $22.8 million. The vessels will have charters of at least two years and three years, respectively. One ship is chartered to part of a major investment grade container shipping group. The other ship will […]
-
12 Feb 2018 1 min read
Tufton Oceanic off the slipway
Tufton Oceanic off the slipway – Tufton Oceanic Assets Limited has acquired two feeder containerships for $20.5 million. The vessels are initially chartered for 2-3 years to a major container line which is investment grade. The initial yield is in line with the targets expressed in the company’s prospectus. These are the first investments by […]
Upcoming Events
In The Press
-
16 Apr 2020 2 min read
Alternative income trusts for the dividend drought
Alternative investment trusts for the dividend drought By Dave Baxter, Investors Chronicle, 16 April 2020 Some 45 per cent of UK companies had scrapped their dividends by 5 April and the situation is likely to deteriorate… But equity trusts are not the only source of income – many investment trusts focused on alternative asset classes such […]
-
25 Sep 2018 2 min read
Investment trust insider on Tufton Oceanic Assets (SHIP)
Investment trust insider on Tufton Oceanic Assets (SHIP) James Carthew: the novelty of ship funds bearing income Tufton Oceanic Assets (SHIP) is not quite a year old, raising $91 million in its flotation last December to invest in vessels in the second-hand market. At the start of this month SHIP announced it was fully invested […]