Overview of QuotedData investment companies – January 2021

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Pleasantly sponsored by Baillie Gifford and Aberdeen Standard Investments

[QD revision: We have amended an error in the original version of the roundup, published on 14 January. The table displaying December’s worst performers in total return NAV terms, using figures sourced from Morningstar, incorrectly listed Augmentum Fintech’s return as (4.1%). Augmentum’s last published NAV, on 2 December 2020, was to 30 September, so there was no change in NAV over December.]

Performance

The median total return on investment company stock prices in December was 4.4% (the average was 5.1%), down from 9.2% last month. During 2020, median yields rose 2.7%, to complete a remarkable turnaround, after declining (23.5%) in the first quarter of 2020.

Best performing sectors in December

Please refer to the “appendix” section for a complete list of industry specific performance. Readers interested in the latest industry news can click here to access our Economic and Policy Brief.

Worst performing sectors in December

On the positive side:

Geiger Counter benefited from a strong rebound in uranium prices in December, while the presence of CQS Natural Resources Growth and Income and BlackRock World Mining reflected the broader rebound in energy markets, where positive developments of vaccines and a period of relative weakness in the dollar were catalysts. It has been a good month for several UK trusts focused on small businesses, especially those focused on smaller businesses, run by Miton UK Microcap, JPMorgan Smaller Companies, BlackRock Smaller Companies, River and Mercantile UK Micro Cap.

Likewise, the growth capital sector has proven to be popular, benefiting Chrysalis Investments (formerly Merian Chrysalis) and Schroder UK Public Private. Elsewhere, Herald, with its stable of largely tech-focused small-cap stocks based in the UK and US, also had a good month.

Negative side:

The drop in shares of Augmentum Fintech represented a slight bump in an otherwise exceptional year for the disruptive financial sector investment fund. Its shares rose 30.8% over the calendar year.

It has been a difficult year for KKV Secured Loan as its shares have fallen since late September following the Read our guide to Boards and Directors

" class="glossary_term">advice has announced its intention to come forward with proposals for a managed liquidation. JPEL Private Equity was the second worst price performance, although we note that it started the year well. This was led by its stake in the American financial guarantees insurance company, MBIA.

Discounts and bonuses

More expensive compared to NAV:

Chrysalis Investments has been the top performer in the growth capital industry, with total net asset value and market returns for the calendar of 41.9% and 52.8% more than twice that of Schiehallion. Electra Private Equity has had a proposed liquidation approved and hopes to finalize the sale of its TGI Fridays and Hotter Shoes assets by the end of the year. The RTW Venture life sciences fund’s rating change was determined by price, with the speed at which COVID vaccines were developed shedding new light on how quickly medicine can be developed, as well as the myriad of ‘opportunities in areas such as genetic medicine.

Cheaper compared to NAV:

The widening of the KKV Secured Loan discount has been discussed above. Elsewhere, Impax Environmental premium reduced after price action failed to keep pace with the increase in net asset value in December. However, the fund is growing and is among the best placed to access the theme of green energies.


Money coming in and going out

The money comes in:

Greencoat Renewables raised € 125 million in an oversubscribed placement. Elsewhere, fundraising was led by Smithson, Edinburgh Worldwide, Monks and Worldwide Healthcare.

Money out:

Gulf Investment deposited 44% of its issued securities share capital while JPEL Private Equity carried out a compulsory buyback. Scottish Mortgage, Oakley Capital and Witan were other notable repayers of capital.

Highlights and views of QuotedData in December

Wallet evolutions:

Company news:

Managers and fees:

Real estate news:

QuotedData views:

Events

Here is a selection of what’s to come. Please refer to the Events section of our website for updates by the time they are scheduled:

  • Presentation of the manager Majedie Investments – January 13, 2021
  • JPMorgan Japanese Investment Trust – Investor Webinar –
    January 14, 2021
  • Aberdeen Standard Brexit Panel Discussion – Webinar –
    January 13, 2021
  • BMO UK High Income Trust Webinar – January 19, 2021
  • Majedie Investment Trust AGA 2021, January 20, 2021
  • Edinburgh 2021 Global AGM, January 20, 2021
  • Baring Emerging EMEA Opportunities 2021 AGM, January 21, 2021
  • Polar Capital Global Healthcare AGM 2021, January 26, 2021
  • AGM des plaines 2021, January 27, 2021
  • JPMorgan China AGA 2021, February 1, 2021
  • JPMorgan Indian AGA 2021 – February 2, 2021
  • QuotedData webinar series –
    February 3, 2021
  • Aberdeen Standard Equity Income AGM 2021,
    February 5, 2021
  • BMO Capital AGM and Income 2021, February 16, 2021
  • Aberdeen Diversified Income & Growth AGA 2021, February 23, 2021
  • Ecofin Global Utilities and Infrastructure AGA 2021,
    March 9, 2021
  • The London Investor Show, April 23, 2021
  • Conference on sustainable and social investment, May 21, 2021

QuotedData World Webinar Series – February 3, 2021

Interviews

Have you listened to our weekly news broadcasts? Every Friday at 11 a.m., we go through the most interesting news of the week, and we usually have a special guest or two answering questions on a particular topic. investment company.

And here’s what’s coming up:
:

To guide

Our independent guide to cited Investment firms is a valuable tool for anyone looking to gain a deeper understanding of the investment firm industry.

Annex – December median performance by sector

This note was prepared by Marten & Co (which is authorized and regulated by the www.fca.org

" class="glossary_term">Financial conduct authority).

This memo is for informational purposes only and is not intended to encourage the reader to trade the security (s) mentioned therein.

Marten & Co is not authorized to give advice to private clients. The rating does not take into account specific investment objectives, the financial situation and the needs of any specific person who may receive it.

This note has been compiled from publicly available information. This notice is not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence, or otherwise) publication or availability of this notice is prohibited.

Accuracy of content: Although Marten & Co makes reasonable efforts to obtain information from sources we believe reliable and to ensure that the information contained in this note is up to date and accurate, we make no representations or warranties that the information contained in this note are accurate, reliable or complete. The information contained in this note is provided by Marten & Co for personal and general information purposes. You are solely responsible for any use you may make of this information. The information is by nature subject to change without notice and may become out of date. You should therefore verify any information obtained from this note before using it.

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Nothing in this notice should form the basis of, or be relied upon in connection with, any offer or commitment in any jurisdiction.

Information on investment return: Keep in mind that past performance is not necessarily a guide to the future, and the value of stocks and the income from them can go down as well as up. Currency exchange rates can also cause the value of the underlying investments abroad to fall or rise. Marten & Co can write about companies that use gear in several forms that can increase volatility and, in some cases, the total loss of an investment.

Monthly review of investment companies for January

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