Over July, we published notes on CQS New City High Yield, BlackRock Throgmorton, Strategic Equity Capital, Seneca Global Income & Growth, CG Asset Management, Standard Life Investments Property Incomeand Aberdeen New Dawn. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com.
In this issue
- Performance data – appetite for risk was generally present through July, with US stocks and the dollar performing well; Tech companies largely had good months. The downward move in sterling to near post-referendum lows and a decline in UK long-term government bond yields reflected the growing threat of a no-deal brexit scenario. Golden Prospect Precious Metal led the sector in price return terms in July (+26.4)% while Lindsell Train was the biggest faller (-28.7%);
- Money in and out – It was a very quiet month for fundraising, leading up to the August holiday season. There were no new issues; net inflows totalled £96.4m (+£354m last month). Aberdeen Standard European Logistics led the way, raising £46.3m while Third Point Offshore USD led money out of the sector, returning £40.8m in July;
- Discounts/premiums – Syncona’s premium widened (price led) as it comes off an excellent year, delivering an NAV return of 37.9%. Elsewhere, Merian Chrysalis climbed to its highest premium since its launch in late 2018. Merian’s approach to investing into unquoteds has been well-received;
- Major news stories – Woodford Patient Capital’s board held discussions with third-party managers regarding the fund’s management contract while results from Intu Properties reflected wider retail woes.