Prices and Markets

QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of a trade war and the strength of the US dollar contributed to falls in emerging markets, particularly in Asia. Discounts, which had been drifting out...

Standard Life Private Equity Trust - Putting capital to work - Following on from last year’s compelling returns (an NAV total return of 14.9% and share price total return of 31.9%), Standard Life Private Equity’s (SLPE’s) recent results show a modest NAV total return of 1.5%, over the six months to 31 March 2018. This is markedly ahead of the LPX Europe Index’s return of -4.9%. Distributions from underlying companies have remained strong, enabling SLPE to make further new commitments. This...

QuotedData’s Economic round up – July 2018 is 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 any of the companies mentioned. Kindly sponsored by Polar Capital. July Economic and Political Roundup Roundup The tit-for-tat imposition of tariffs on imports by the...

QuotedData’s investment companies roundup – July 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 June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove REIT, an Irish REIT investing in office and industrial properties primarily outside Dublin’s central business district, began trading on June 8th. The IPO raised €75m....

Iván Chávez became a member of the Inter-American Dialogue’s President’s Leadership Council at its fourth annual meeting on June 5, 2018. Chávez is Executive Vice President of Grupo Vidanta, the global conglomerate of real estate ventures headquartered in Mexico. Those ventures include Vida Vacations, which offers private club memberships at seven Vidanta resorts along the Mexican coast. Under his leadership, Grupo Vidanta has become a global leader in the travel industry, and his relationships with other industry experts have led...

Caledonia Mining - Discounted gold - Caledonia Mining (Caledonia) has had a good start to 2018 and its share price is up 22.5% year to date. Caledonia produced 56.1koz of gold during 2017, marginally beating its guidance for production of 54-56koz, despite suffering from electricity shortages and underground logistical issues (which it says that it has since addressed). The company advises that it remains on track to deliver output of 80,000 ounces (80koz) of gold by 2021 (all funded from...

India Capital Growth - A return to earnings growth 180626 IGC annual overview QD Earnings figures for the companies in India Capital Growth (IGC)’s portfolio are increasing as India puts the disruptive effects of demonetisation and the introduction of the Goods and Services Tax (GST) – both of which were covered in QuotedData’s March 2017 note – behind it. Rising oil prices may be a headwind but India’s domestically focused economy should be relatively sheltered from a global trade war....

The stock market has been swinging in and out of stability for years.  Worries over global issues, the domestic economy, international economy, and international relations all impact the US stock market.  With of these factors in play, it’s no wonder that periods of high volatility are to be expected. While volatility in the market might make some cautious of investing, periods of volatility actually provide many opportunities for smart investors to make some good money.  You’ll of course want to...

Seneca Global Income & Growth - Cutting back on equities - Seneca Global Income & Growth Trust’s (SIGT’s) manager continues to expect a global recession in 2020, with a global bear market in equities in 2019. In anticipation, it laid out its strategy of gradually reducing the trust’s exposure to shares in companies and recent events have served to reinforce its view. The manager highlights the benefit of SIGT’s ability to invest across a range of different asset types, which it says...