Prices and Markets

3i Infrastructure considering sale of Anglian Water. The Board of 3i Infrastructure plc says it notes the press speculation regarding a potential sale of its interest in Anglian Water Group. The company confirms that it is considering options in relation to its holding in Anglian Water which is held through 3i Osprey LP, a partnership managed by 3i Investments plc, the investment adviser.  These considerations are at an early stage and, as such, there can be no certainty that they will...

Summit Germany spends €100m in Wolfsburg. Summit Germany Limited, the AIM-listed German commercial property investment company, has announced that it has entered into an unconditional agreement with Dazzle Capital Holdings Ltd., for the acquisition of a portfolio of commercial properties at a total purchase price of approximately €100 million including acquisition costs, located in 4 different sites in the city of Wolfsburg, Germany. The aggregate annual net rent from these properties is €7.9 million, which reflects rental yield of 7.9%. The...

LondonMetric Property sells last Marlow office. LondonMetric Property has  announced that it has exchanged on the sale of its last remaining office asset in Marlow to Kildare Partners for GBP68.5 million. The 231,000 sq ft office property is 96.7% let off a WAULT of 7.0 years to Allergan, Dun & Bradstreet, Lexington Catering, Icon Clinical and Aptos. The rental income is GBP4.9 million pa. The property was acquired in 2012 for GBP50.2 million, reflecting a NIY of 8.9%. Since acquisition, LondonMetric...

Great year for Monks as seven holdings more than double. Over the year to 30 April 2017, Monks Investment Trust's net asset value total return was 40.0% compared to a total return of 31.0% for the World Index (in sterling terms). The share price total return for the same period was 53.9%, with the discount narrowing to 0.6%. The one year net asset value performance ranks it third out of 23 AIC Global sector peer trusts. The Board is recommending that a single final...

Phaunos Timber Fund bites the dust - the Board of Phaunos Timber Fund Ltd has announced that at the Annual General Meeting held at 11.00 a.m. on 19 June 2017, all resolutions were duly passed on a poll with the exception of Resolution 7 (the Continuation Vote). As Resolution 7 has not been passed, it is the Board's intention to put forward proposals, to commence the process for the orderly realisation of the assets of the Company to maximise value and the timely...

LXi REIT has announced that it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Kent, West Sussex and Gloucestershire. The purchase price for the Portfolio is £3.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). Lxi REIT says that the properties in the Portfolio comprise specialist, high quality supported living homes for individuals with physical and/or mental disabilities or other care needs....

BlackRock Greater Europe has announced that it has been informed that Vincent Devlin, co-portfolio manager of the Company, will be stepping down as portfolio manager. Stefan Gries, a senior Director within the BlackRock’s European Active Equity team has been appointed co-portfolio manager alongside Sam Vecht, who retains principal responsibility for the Company’s emerging European portfolio. About Stefan Gries Stefan Gries joined BlackRock’s European equity team in 2008, after previous roles at Scottish Widows, Aberdeen Asset Management and Deutsche Bank. Stefan...

HgCapital invests in business messaging service, Esendex - HgCapital, the Manager of HgCapital Trust, has today announced an investment in Esendex, a leading provider of mission-critical business messaging services across Europe. On completion of the transaction, Esendex will be merged with existing Mercury portfolio company Mobyt, which provides similar business messaging services in Italy and France. HgCapital will have a majority share in the combined business with the Company owning c. 20% alongside other HgCapital clients. The terms of this transaction...

Utilico Emerging lags rising global emerging index as shareholders trail MSCI return by 12.2%. Utilico Emerging has announced an NAV total return (adjusted for the exercise of subscription shares) of 26.2% for the full year to 31 March 2017. However, someone who just held the ordinary shares and no subscription shares would have made a total NAV return of 22.5% over this period. This compares poorly with a return on the MSCI Emerging markets Index of 34.7%. Against its peers,...