QuotedData morning briefing November 17, 2021

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In the QuotedData morning briefing on November 17, 2021:

  • Caledonia (CLDN) has agreed to the terms of the sale of its investment in BioAgilytix, a leading provider of bioanalytical assays for the research and development of large molecules, such as capital investment Cinven company, becomes the new main investor. The transaction is subject to US antitrust approvals and is expected to close in December 2021. Cinven’s investment involves a sale of Caledonia’s stake in BioAgilytix to Cinven with estimated gross proceeds of approximately $ 183 million, net of fees, which will be confirmed completion. The product will be kept for future investment. Caledonia’s stake in BioAgilytix was valued by Caledonia at £ 51m as of September 30, 2021.
  • Worldwide Healthcare (WWH) has published its half-year results for the six-month period ended September 30, 2021. During the period NAV delivered 0.4% while its share price was down 1.5%. This compares to its MSCI World Healthcare Index 13% yield. The president says that the main reasons for this poor performance were the important index

    Overweight is used as a relative term, generally to something neutral, generally an index and in the context of a benchmark.

    The opposite is underweight

    See also neutral weight

    Example

    Stock A is 10% of an index.  A portfolio holds 12% of Stock A.  The portfolio is overweight Stock A by 2%

    Germany is 10% of the European Index. Investment manager likes Germany. Portfolio holds 12% and is 2% overweight

    Outcome

    If stock A's share price rises, the portfolio performs well relative to the index because it holds 2% more than the index

    If German markets fall, the portfolio performs badly relative to the index because it holds 2% more than the index

    " class="glossary_term">Overweight
    positions in underperforming emerging biotechnologies and China. These sectors have been the subject of significant volatility as investors turned to larger stocks in more developed markets, which is why they were the main contributors to the reported relative underperformance. In addition, absolute performance was affected by political uncertainty resulting from the arrival of the new presidential administration in the United States. The income yield for the period was £ 9million, an increase of £ 4million over last year due to an increase in wallet Income. The Read our guide to Boards and Directors

    " class="glossary_term">plank
    declared an increased acting dividend of 7p per share, for the year to March 31, 2022.
  • Chelverton Growth (CGW) has released annual results for the year ended August 31, 2021. Over the 12 months, the Trust’s NAV increased 41.9% while its share price climbed 98 , 3%. This compares to a 37.5% increase over its reference, the MSCI Small Cap UK index. Despite the good performance, the company has now been reduced to a size which makes it unsustainable in the long term to continue with the current structure and the board of directors is considering how to return the funds to shareholders in the most efficient way.
  • KKV Secured Loan (KKVL) has published its Annual Report for the year ended June 30, 2021. During the period under review, its net asset value increased by 1.4% while its share price fell by 33.2%. Meanwhile, the trust’s C shares posted a 14% net asset value return, but its share price fell 41.4%. As the company is in managed liquidation, the business model has shifted from holding assets until maturity to actively realizing assets in accordance with the updated investment policy.
  • British Land (BLND) recorded a 5.1% increase in EPRA Tangible net assets (NTA) at 681p in the half year results at September 30, helped by a 2.9% increase in the value of its portfolio to £ 9,840million.
  • Grainger (GRI) has acquired two sites for direct development opportunities, totaling a potential of 480 new PRS homes. Exmouth Junction in Exeter has planning permission for 230 houses. Brook Place 2 in Sheffield could deliver up to 250 PRS homes, subject to changes to the existing building permit.
  • AEW United Kingdom REIT (AEWU) released its half-year results as of September 30, in which its net asset value rose 11.0% to 110.01p per share. EPRA’s earnings per share for the period were 3.45 pence, while it paid dividends of 4 pence per share.

In addition, Life Sciences REIT has successfully raised £ 350 million to Initial Public Offering, Tritax EuroBox obtained a green lease in Belgium and Workspace made an acquisition.

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