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1 week ago | 
citywire.com | Michelle McGagh |James Carthew
Performance
The £297m trust delivered a net asset value (NAV) total return of 4% over the six months to end of January, ahead of the 1.4% increase in its Topix benchmark, as reported in half-year results this week. The shares achieved a total return of 3.2%, including a new interim dividend of 2.82p.
While the trust had grown its dividend by 12.7% on average each year over the past decade, it recently adopted an enhanced dividend policy that will see it pay out 4% of average NAV each year.
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1 week ago | 
citywire.com | Michelle McGagh |Jeremy Gordon |James Carthew
Update: The board of Urban Logistics (SHED) is on the brink of accepting a £674m takeover bid from LondonMetric Propery (LMP).
The board of SHED said yesterday afternoon that it is ‘minded to recommend’ a LondonMetric cash and share bid that values the entire real estate investment trust (Reit) at £674m.
The news caused SHED’s shares to soar 8% on Monday, just days after the FTSE 100 member LondonMetric made a preliminary approach for an undisclosed sum.
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1 week ago | 
citywire.com | Danielle Levy |Michelle McGagh |James Carthew
Aurora UK Alpha (ARR) manager Gary Channon describes 2024 as a year of ‘fundamental progress’, even though disappointing performance figures resulted in him returning last year’s performance fee. The £279m portfolio of UK special situations, which significantly boosted its size last year after merging with Artemis UK Alpha, suffered a tough 12 months in terms of performance.
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1 week ago | 
citywire.com | Miles Costello |Michelle McGagh |James Carthew
The board of Urban Logistics (SHED) is on the brink of accepting a £674m takeover bid from LondonMetric Propery (LMP).
The board of SHED said it is ‘minded to recommend’ a LondonMetric cash and share bid that values the entire real estate investment trust (Reit) at £674m.
The news caused SHED’s shares to soar 8% to 138p on Monday, just days after the FTSE 100-listed property investor made a preliminary approach for an undisclosed sum.
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1 week ago | 
citywire.com | James Carthew |Michelle McGagh
Gore Street Energy Storage (GSF) has offloaded the US tax credits linked to its Texan asset, providing hope for its next sale in California despite the political uncertainty surrounding the energy sector.
Shares in the £526m portfolio of energy storage assets climbed 7.4% to 56p on Monday afternoon after manager Gore Street Capital confirmed the agreed sale of investment tax credits (ITCs) linked to its ‘Dogfish’ project, with gross proceeds expected to be between £18m and £19m.
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2 weeks ago | 
citywire.com | Michelle McGagh |James Carthew
The FTSE 100 cemented its losses on Wednesday afternoon, despite Wall Street opening higher as American stocks appeared to defy the intensifying trade war that has sparked concerns a US recession is now inevitable.
The main UK index stayed firmly in the red, down 2.4%, or 194 points, at 7,716 shortly after 3.30pm, as the S&P 500 and Dow Jones Nasdaq clawed back less than 0.5%.
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2 weeks ago | 
citywire.com | Miles Costello |Jeremy Gordon |Michelle McGagh |James Carthew
It’s 6:30am on a wet, wintry morning and passengers in crammed tube carriages are wondering whether they really want this commuting grind for the next 20 years. Graeme Forster was one of those passengers, and his answer was no. Born in Wrexham, Wales, Forster spent the best part of six years travelling between his home in Buckinghamshire and the central London offices of his employer, the funds firm Orbis Investment Management.
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3 weeks ago | 
citywire.com | Michelle McGagh |Jeremy Gordon |James Carthew
Pantheon Infrastructure (PINT) has bucked the trend for falling portfolio values among its peer group after it realised profits from its first exit. However, the global infrastructure investor warned 2025 will be another tough year for fundraising. Pantheon Infrastructure grew its net asset value (NAV) by 14.3% to £553m, equivalent to 118.1p per share in 2024, beating the 10.4% NAV growth it delivered in 2023. This was ahead of its 8-10% growth target.
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3 weeks ago | 
citywire.com | Algy Hall |Danielle Levy |Jeremy Gordon |James Carthew
Warehouse Reit (WHR) has extended its deadline to allow private equity firm Blackstone extra time to confirm its final offer for the multi-let warehouse investor. Last month, the board agreed to an all-cash offer of 115p per share, which values the portfolio at £489m. But in a stock exchange announcement, Warehouse Reit said it has extended its deadline for the final offer from 31 March to 28 April to allow Blackstone extra time to complete its due diligence.
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4 weeks ago | 
citywire.com | Sophie Downes |Michelle McGagh |James Carthew
Ian Hargreaves, co-manager of Invesco Asia Dragon (IAD), discusses the recent performance of ‘growth’ and ‘value’ stocks in Asia and what it might mean for his £780m investment trust. In particular, he zeroes in on holdings like Grab, often called the ‘Uber of south east Asia’, and how they have started to buy into such internet businesses during periods of extreme pessimism in the last two years.
