Prices and Markets

VPC Speciality Lending invests more in Borro - Victory Park Capital, VPC Speciality Lending's investment manager has decided that the funds that it runs will take a majority equity stake in Borro. Through this transaction, VPC Speciality Lending will end up owning approximately 49% of Borro. The remaining 51% of the equity will be held by other vehicles managed by Victory Park Capital and Borro's senior management team. VPC Speciality Lending will keep its outstanding senior secured debt position of approximately GBP32 million,...

John Laing Infrastructure reveals thinking on Labour PFI threats - in a trading update released today, John Laing Infrastructure Fund talks about various issues including the threat to PFI from a Labour government, a write-off in the portfolio and Catalonia. PFI At the annual UK Labour Party conference in September 2017, the UK's Shadow Chancellor of the Exchequer, John McDonnell, made comments regarding his party's intentions with respect to UK PFI contracts should the Labour Party come to power. These included...

QuotedData’s economic round up – November 2017 – 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 Martin Currie November Economic and Political Roundup Roundup The UK was, once again, one of the weakest...

Ecofin Global Utilities and Infrastructure - Delivering the goods 171109 EGL Update QD The manager of Ecofin Global Utilities and Infrastructure Trust (EGL), which invests in utilities and other economic infrastructure equities, says that the company’s portfolio has benefitted from having an overweight position in continental European stocks, good stock selection and an upswing in power prices which have moved higher on the back of rising commodity prices. Earlier this year the manager trimmed exposure to UK utilities, which have...

Oakley buys Career Partner - Oakley Capital Investments Limited has agreed to acquire, through its Oakley Capital Private Equity III fund ("Fund III"), Apollo Global Germany GmbH ("Career Partner Group"), from its current shareholder Apollo Education Group Inc. Fund III, together with a number of underlying Fund III investors, will hold a 79% stake in the business. Fund III will be partnering with CEO Dr. Sven Schütt and his management team, who will be investing in the new structure. Career Partner...

International Biotechnology beats benchmark on strong listed portfolio performance - In the year ended 31 August 2017, International Biotechnology Trust's NAV rose from 575.1p to 672.9p, including a significant currency gain, equivalent to 14.4 pence per share. The NAV returned 20.9% in. Over the same period, the Shareholders total return was 30.5%. This compares to a rise in the Nasdaq Biotech Index of 21.7% and a gain in the All-Share of 14.4%. The fund's first dividend payment was made to shareholders on 31 January...

Henderson Diversified Income Trust - Dear Prudence 171102 HDIV Update QD In the face of declining yields across its investment universe, the managers of Henderson Diversified Income Trust plc (HDIV) have decided to take a pragmatic and sensible approach by refusing to chase higher yielding but riskier opportunities. Instead the trust is paying the price for prudence by cutting its dividend. The managers say many shareholders have been consulted and are supportive of this move. High income from a flexible fixed income...

Premier Energy & Water becomes Premier Global Infrastructure - The Board of Premier Energy and Water Trust PLC has announced that the name of the company has changed to Premier Global Infrastructure Trust PLC in order to reflect a change of investment emphasis within the portfolio. The name change has been registered at Companies House today and is effective immediately. The change will be reflected on the London Stock Exchange and trading in the ordinary shares will commence under the new trading...

NextEnergy Solar piles into Italy - Next Energy Solar Fund has made its first investments in Italy; eight operating solar plants with an installed capacity of 34.5MWp at a total cost of €131.9m. Five of the acquired plants are in the region of Puglia (total 21.5MWp) and three are in the region of Campania (total 13.0MWp). The equity value of the acquisition amounts to EUR55.0m. The portfolio's total outstanding long-term non-recourse debt facilities amount to EUR76.9m. The Italian portfolio value...