Prices and Markets

Herald Investment Trust - Who wants to be a billionaire? Herald, the small cap technology, communications and multimedia trust, recently passed a remarkable milestone. It has created more than £1bn for investors since it launched in 1994. Katie Potts, who has managed the fund over its entire life, points out that £98m was raised from investors (at launch and in subsequent issues). All of this and more has been returned via share buy-backs, yet Herald still has net assets of...

BioPharma secures second deal for up to $200m - BioPharma Credit PLC has announced that it and BioPharma Credit Investments IV, S.àr.L., entered into a definitive term loan agreement for up to US$200 million with Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX), a fully integrated biopharmaceutical company with a current market capitalisation of approximately US$1.0bn. Lexicon markets XERMELO® (teloristat ethyl) for the treatment of carcinoid syndrome diarrhoea in the United States and has licensed XERMELO® to Ipsen Pharma SA for commercialisation in territories outside...

Here is an obscene fact for you: Bitcoin uses more electricity than 159 of the planet's countries. The cryptocurrency worth under $1 in 2011 hit a new record this week, making headlines as it soared above $11,000 on Wednesday morning, after which its value has been going up and down like a rollercoaster.   But the other record that Bitcoin is breaking is as the world's most obscenely energy-guzzling currency. Bitcoin is the world's first payment network that's completely decentralized,...

Jupiter Emerging & Frontier Income - A very successful fundraise Jupiter Emerging & Frontier Income (JEFI) offers investors access to the potentially exciting long-term growth prospects of emerging and frontier markets (see page 3) and one of the highest dividend yields in its peer group. Its portfolio is relatively focused, with just 44 holdings, yet it offers exposure to a diverse range of industries, geographies and sizes of companies. JEFI is differentiated too by the change-based philosophy (see page 6) that...

Premier Global Infrastructure Trust - Evolution, not revolution Premier Global Infrastructure Trust (PGIT), formerly Premier Energy & Water, has announced a change of investment emphasis within its portfolio. PGIT’s investment objectives remain unchanged (high income and long-term capital growth - see below) but fuller use is now being made of the existing authority to invest in non-utility infrastructure – areas such as ports and roads. A more concentrated portfolio is also to be revised into three distinct areas: income equities, growth...

Hg gets bid for Ullink - Hg, the Manager of HgCapital Trust plc, has announced that it has received a definitive binding offer from Itiviti, a company backed by Nordic Capital, to acquire Ullink, a leading global provider of electronic trading and connectivity solutions to the financial community. This proposed sale is subject to French workers' council consultations, and customary approvals, such as regulatory clearances. The terms of the transaction were not disclosed. Hg Capital would realise estimated cash proceeds of...

International Public Partnership consortium preferred bidder for OFTO project - International Public Partnerships Limited says that it is pleased that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure and Transmission Investment has been appointed as preferred bidder for the long-term license and operation of a further offshore transmission project (OFTO). The latest scheme, comprising the transmission cable connection to Dudgeon Offshore Wind Farm represents the seventh such project that Transmission Capital Partners has been appointed to, as preferred bidder....

Residential Secure Income buys 1341 retirement homes - Residential Secure Income plc has announced the completion of its first acquisition with the purchase of a rental homes portfolio comprising 1,341 retirement properties for a total consideration of approximately £100m. The UK-wide portfolio is concentrated in Southern England and comprises long-leasehold or freehold interests in primarily one and two bedroom modern, warden-assisted flats spread over more than 250 purpose-built retirement housing blocks. The portfolio provides RPI-linked assured tenancies to retirement-aged residents, offering...

Aberdeen Standard European Logistics Income (ASLI or the company) is a new company that intends to qualify as an investment trust. It will invest in a diversified portfolio of ‘big box’ logistics and ‘last mile’ urban warehouse assets in Europe (this includes both the UK and the Nordic countries - see page 3 for more detail on the investment proposition) with the aim of providing its shareholders with a regular and attractive level of income return together with the potential...