Prices and Markets

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...

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...