Invesco Select Trust Plc - Annual Financial Report finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
This is the first quarterly shareholder update since the initial public offering ( IPO ) of Schroder British Opportunities Trust plc (the Company , or SBO ) on 1 December 2020, and we are delighted to provide the below commentary from the Company s Portfolio Managers. At the end of March, the Company received external recognition and was awarded the Most Exciting Investment Company IPO accolade at the ADVFN International Financial Awards. The panel-judged awards celebrate best of breed products and services from across the financial industry, both nationally and internationally, and are recognised across the international retail investor market. We would like to thank ADVFN for identifying the Company s potential and selecting it as the winner in this prestigious category.
BlackRock North American Income Trust Plc - Final Results
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LEI: 549300WWOCXSC241W468
PERFORMANCE RECORD
158.06
145.50
2
2
(7.5%)
2
========
1 The change in net assets reflects market movements, shares issued/bought back and dividends paid during the year.
2 Alternative Performance Measures, see Glossary in the Company s Annual Report for the year ended 31 October 2020.
Year ended
5,367
6.65
NAV %
Sources: BlackRock and Datastream.
CHAIRMAN S STATEMENT
OVERVIEW
Despite a promising start to the Company s financial year, with all-time highs in global equities reached in February 2020, the subsequent COVID-19 pandemic has since clearly had an enormous impact on the global economy. The initial lockdown measures severely curtailed economic activity in most countries and, although economies slowly restarted over the summer, sharply rising infection rates prompted further restrictions in many countries over the autumn. In addition, concerns ov
Given the news towards the end of Q4 2020 of a number of successful COVID-19 vaccine discoveries, followed by expectations of an immediate rollout of a vaccination programme, and probable clarity around Brexit negotiations, we got to work quickly in early December to invest. Our belief that the small and mid-cap segment of the UK public equity market offers investment potential was corroborated within the first two weeks of SBO s launch when one of our holdings was bid for - a first for the portfolio. Calisen, a provider of energy meters and metering systems, received an offer from Coyote Bidco (a consortium consisting of investors including BlackRock Alternatives Management and Mubadala Investment Company) that was c.26% above the previous day s closing share price. Calisen s directors and KKR owned c.73% of the company and voted in favour of the deal; as such we believed limited acceptance would be required from the remaining shareholders to obtain