Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Singaporean Real Estate Investment Group have purchased Regional REIT's Asset Manager - London and Scottish. I wonder if an impending announcement or rumour about this unsettled the market in Regional REIT yeaterday?
Good article in City Wire - Investment Trust Insider - "Investors Pressure £231m VPC Speciality Lending into full wind down. Some good comments including pointing out that "11% discount isn't anything unusual nowadays" and "so what if you're invested for the income" The company's concentrated shareholder register is also causing concern, SVS Opportunity which is managed by Victory Park is the largest shareholder.
Good in most parts but taken a bit of a beating earlier this morning (as I write). Acquisitions on track or completed, good solvency and cash generation figures and increased divi. Loss of £104 million due to market conditions v. £20.8 million profit last year. No doubt the loss is being focussed on this morning although not a true measurement of the business.
Read in the Sunday papers that Kwarteng is looking to change the subsidy arrangement for a fixed 5yr period on less favourable terms. This in an effort to "claw back" some of the excessive profits being made by this sector. So (if you can believe the papers) we will be exposed. Very short sighted especially given that both solar producers are moving into battery storage.
The dividend is always welcome but I thought the results were disappointing with funds under management (est.) down by about 20% (correct me if I'm wrong). I have held this share for years and it has always performed quite well - I think it is an example of the overall malaise in financial stocks at the moment. I had hoped the US tie up would have been more transformational - early days perhaps.