Prices and Markets

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...

Caledonia sells the Sloane Club - Caledonia Investments has today sold its 100% interest in The Sloane Club, the private members club located in the heart of Chelsea, London, to Sloane Investment Limited, a special purpose vehicle jointly owned by JK Chelsea Holdings Limited, an affiliate of the Queensway Group, and Clearbell Property Partners III LP, a real estate fund advised by Clearbell Capital LLP. The headline enterprise value agreed for the Club was GBP80.6m, which after fees and other...

Pacific Horizon - Top of the Pops! - Pacific Horizon (PHI) has benefitted strongly as both the Asia ex Japan region and technology stocks, to which PHI has a significant exposure, have rallied. This has seen it move up the competitor peer-group rankings so that it is first and second, in terms of NAV total return, over one and three years respectively. PHI’s manager, Ewan Markson-Brown, believes that the rising wealth of the middle class in Asia is likely to...

VinaCapital Vietnam Opportunity planning significant private equity investment - VinaCapital Vietnam Opportunity Fund has published accounts for the year ended 30 June 2017. The NAV increased in US Dollar terms by 25.5% to USD4.73, while the share price rose by 35.5% to USD3.82. Their listed equity portfolio returned 32%, outperforming the VN Index by 12%. VOF benefited from a number of major exits - especially sales of Direct Real Estate and operating assets - generating USD156 million in cash and receivables. These exits...

Alpha Real gets planning for Frankfurt data centre - Alpha Real Trust has successfully secured detailed planning consent for a 40,338 square metre data centre building at its data centre site, together with a commitment from the local utility provider to connect a 35 MVA dual feed power supply to the site. As announced in November 2016, Alpha Real Trust entered into a conditional agreement to purchase, via a SPV, an industrial site in Frankfurt which it identified as being...

K&C REIT hopes for transformation - tiny K&C REIT has big ambitions. It plans to consolidate its shares on a 10x1 basis and issue up to £150m shares at 100p to fund the acquisition of portfolios of residential property. It hopes to top up the £150m equity issue with £100m of debt. Duncan Walker, previously investment director at Helical Plc, will be appointed as an additional non-executive director of the company when the new shares are admitted to trading. In...