In QuotedData’s morning briefing 19 January 2021; Hg has held a minority position in TeamSystem since 2015, following its majority exit to a vehicle indirectly held by Hellman & Friedman Capital Partners VII, L.P. A transaction has recently been agreed to transfer TeamSystem to a vehicle indirectly held by Hellman & Friedman Capital Partners IX, L.P. As […]
LXI REIT has increased its quarterly dividend guidance on the back of strong rent collection figures for the first quarter of 2021. It has received 96% of rent, which increases to 98% on receipt of rent deferrals agreed with tenants. As a result of the robust rent collection figures, it has increased its dividend target to […]
McKay Securities has collected 86% of rent for the current quarter, it has revealed. The group, which owns offices and industrial and logistics assets in London and the South East, said the first quarter collection figure increases to 91% when monthly payments are factored in. It also revealed that for the financial year to the […]
The flexible investment sector company, Ruffer (RICA), which invests using what it describes as an ‘all-weather’ approach, reported annual results to 31 December 2020. The share price return of 17.0% and the NAV return of 13.5% for the calendar year 2020 marks two consecutive years of good returns for shareholders (+23% in NAV performance over […]
Baillie Gifford US Growth’s (USA) interim results to 30 November 2020 brought share price and NAV returns of 50.8% and 53.8%. This compares with a total return of 11.1% for the S&P 500 index (in sterling terms). Some of the highlights from the period include: Moderna, held by USA since 2018, is one of the biotechnology companies […]
In QuotedData’s morning briefing 18 January 2021 – AVI Japan Opportunity (AJOT) is seeking to raise up to £35m in new ordinary shares under its existing placing programme. Joe Bauernfreund, CEO and CIO of Asset Value Investors, AJOT’s manager, commented: “We want to take advantage of valuations which in many cases remain depressed despite encouraging signs […]
QuotedData’s weekly news show 15 January 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Schroder British Opportunities update Schroders UK Public Private update Executive order 13959 Gabelli Value Plus liquidation vote Watch […]
One of the best places to be invested last year was China. JPMorgan China Growth and Income managed to almost double in share price terms over 2020. Fidelity China was up by more than two thirds and Baillie Gifford China was up by more than 50% (though this was mainly related to discount narrowing on […]
A host of rent collection figures for the first quarter of 2021 have been announced by property companies and, once again, it is the logistics-focused companies leading the way. It is not that surprising given the well-documented rise in online retailing and the positive impact on demand for logistics space, but it does underline the strength of […]
Urban Logistics REIT has acquired a logistics site in the Wirral for £16.3m and announced rent collection for the first quarter of 2021 was 99%. The group has bought the 169,963 sq ft property in Bromborough at a net initial yield of 5.0% as it continues to deploy the proceeds of its recent fund raise. […]
Industrial and logistics giant SEGRO has revealed it has collected 98% of all rent billed for 2020, reflecting the strength of the sector. Broken down into UK and European portfolios, SEGRO has collected 97% of the £245m billed on its UK assets and 98% of the £172m billed in Europe. The group said it had […]
The Independent Investment Trust (IIT) has announced its annual results for the year ended 30 November 2020, during which it recovered in the second half, despite reducing equities in March. Over the year, IIT produced a net asset value (NAV) total return of -2.2%. Its chairman, Douglas McDougall, says that, over the same period, theoretical […]
Triple Point Energy Efficiency Infrastructure (TEEC) has provided an update on its pipeline as well as personnel changes that are taking place at its investment manager. Pipeline update TEEC says that headline terms for its first investment into energy efficient heat distribution assets, represented by the target CHP+ portfolio identified at IPO, are now agreed […]
The board of Gabelli Value Plus+ Trust (GVP) has made an announcement this morning which suggests a tender offer may be on the cards, which could finally offer a way out of the maze for beleaguered GVP shareholders. In its announcement, GVP’s board says that it plans to shortly publish a circular convening a general meeting at which […]
Downing Renewables & Infrastructure Trust (DORE) has announced that it has signed an exclusivity agreement with Bagnall Energy Limited in relation to a proposed investment in a 100 MW nearshore, shallow water wind farm. The wind farm is to be constructed in Lake Vänern in southern Sweden and developed by Cloudberry Clean Energy AS. DORE […]
The Renewables Infrastructure Group (TRIG) has announced that it has exchanged contracts to acquire an equity interest of 17.5% in the Beatrice offshore wind farm project in the UK, from Copenhagen Infrastructure Partners (CIP). Beatrice is a 588MW offshore wind farm developed by SSE Plc that is located approximately 13km off the north east coast […]
In QuotedData’s morning briefing 15 January 2021: Macau Property Opportunities (MPO) has provided an update for the second half of 2020. After a disappointing first half due to the effects of COVID-19, MPO says that the second half showed some improvement with the pandemic under control in the territory and neighbouring China. These factors, together with […]
ICG Longbow wind down approved – ICG Longbow Senior Secured UK Property Debt Investments has published the results of its extraordinary general meeting, which was held today. Shareholders approved the new investment objective and the new investment policy and the manager will now pursue a strategy of orderly realisation and the return of capital over time to […]
Central London office landlords Great Portland Estates and Helical have reported rent collection figures for the first quarter of 2021. Great Portland Estates The company has received 69% of rent due, which it said increases to 77% when the £2.1m of rent deposits it anticipates to utilise are included. As expected, its main issue has […]
CLS Holdings, which owns offices in the UK, France and Germany, has received 90% of rent for the first quarter of 2021. This compares with a rent collection in the same period last year (before the impact of COVID-19 was felt) of 91%. The group said the collection rate increases to 93% when taking into account tenants […]
LondonMetric Property has collected 98% of rent for the first quarter of 2021. The group, which has a large logistics portfolio as well as a long-income portfolio, said that of the £22.8m billed for the quarter and monthly for January, 98% has been received with a further 1% expected imminently. A sectoral split shows rent collection […]
Tritax Big Box REIT has reported a like-for-like increase in the value of its portfolio of around 8% in the six months to the end of December 2020. The group said the second half of 2020 saw a significant increase in the value of prime, larger scale, UK logistics real estate assets let to high calibre occupiers […]
Schroder British Opportunities backs Rapyd – Schroder British Opportunities Trust has made an investment into Rapyd, a leading global ‘Fintech-as-a-Service’ company with significant UK operations. SBO’s investment forms part of Rapyd’s $300m Series D financing round, which was led by Coatue and which marks the company’s third private equity investment. SBO invested via its co-investment partner […]
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 […]
Hipgnosis Songs (SONG) has announced that the company has acquired a catalogue from one of the world’s best-selling music artists, Shakira. SONG has acquired 100% of Shakira’s music publishing rights, including publishing and writer’s share of income, of her entire catalogue comprising 145 songs. In the announcement, SONG notes the following. “Since releasing her first album […]
In QuotedData’s morning briefing 13 January 2021 – Riverstone Energy announced the commitment of $25m to Loanpal, LLC, described as the leading sustainable home improvement fintech provider used in over half of US residential solar system sales. Riverstone global energy & power fund VI also participated in the transaction, investing $50m for a total investment of […]
Schroder European REIT has announced it collected 89% of rent for the final quarter of 2020. This was ahead of the previous two quarters collection rate, which stands at 87%. The company also announced its quarterly portfolio valuation, which increased by 1.4% on the September 2020 valuation to €276.1m. The valuation increase was driven by […]
Derwent London, the central London office developer and owner, has collected 83% of rent for the first quarter of 2021. The group said it has received 87% of the £40.9m office rent for the quarter, which is higher than the previous two quarters at an equivalent time. It has received just 26% of the £3m it […]
Land Securities has received just 50% of normal rental levels for the first quarter of 2021. The company, which predominantly owns a large retail portfolio and London offices, had collected £66m of the £112m due five days after billing tenants on 25 December 2020. It collected 81.25% of the £64m rent due from its office […]
Irish commercial property owner Yew Grove REIT has announced it has collected almost 100% of rents for the first quarter of 2021. All quarterly rent billed for the current quarter at the end of December, which accounts for 90.35% of its rent roll, has been received. Just €3,175 of the monthly rental agreements, which account […]
