QuotedData’s investment companies roundup – August 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 July 2018. Kindly sponsored by Baillie Gifford.
August Investment Companies Roundup
Money raised and returned in July
Tritax EuroBox raised its maximum target of £300 million in an issue that was ‘significantly oversubscribed’. Hipgnosis Songs Fund raised over £200 million. The third new issue in July was Ashoka India Equity, which did not make it into the top 5 largest raisers of money in July. It had to settle for launch proceeds of just £45.6m against a target of £100m. Greencoat Renewables raised €111m in an oversubscribed placing to refinance its revolving credit facility, allowing it to make further acquisitions. In the same sector, Renewables Infrastructure raised approximately £64.2m through a share issue to also pay down its revolving credit facility. Scottish Mortgage issued new shares to meet demand.
Macau Property Opportunities returned approximately £28.2m to shareholders via a compulsory redemption mechanism put in place by the Board in June. Terra Capital also returned USD36.8m via a compulsory partial redemption of shares. NB Global Floating Rate Income Templeton Emerging Markets and Mercantile continued to repurchase their shares.
July also saw the departure of Blue Capital Alternative Income and Alpha Pyrenees Trust.
Third Point Offshore scrapped its sterling share class but has the stock exchange to allow its dollar shares to be traded in both dollars and sterling.
QuotedData’s investment companies roundup – August 2018