Radnor Capital Partners working with TOC Property Backed Lending Trust Plc
Radnor Capital Partners is pleased to announce that it has been retained as introducing agent for the TOC Property Backed Lending Trust plc following its IPO in January 2017.
TOC Property Backed Lending Trust PLC intends to deliver shareholders a stable income stream, payable quarterly, whilst offering the potential for total return upside over the medium to long term. Once the initial capital has been fully deployed, the trust is targeting a dividend yield of c.7%. The trust’s direct lending portfolio will be made up of fixed rate loans fully secured on a range of residential, commercial and land based property assets. In many cases the trust will also seek minority equity stakes in the associated development vehicle to provide shareholders with total return upside as well as securing future investment opportunities. Tier One Capital is the trust’s investment adviser.
“TOC Property Backed Lending Trust is an innovative, new entrant into the alternative lending investment company universe. The principals at Tier One Capital have identified an attractive niche, stepping into the gap left by more traditional lenders for supporting asset backed development opportunities. We believe the combination of attractive near term income and medium term total return will be attractive for investors in the current climate.”
Tom Durie, Radnor Capital Partners
“We are delighted to be working with the team at Radnor Capital, who come highly recommended. We look forward to bringing our newly listed investment trust to new investors over the coming months.”
Ian McElroy, Tier One Capital
+44 (0)20 3897 1831
Property week article – Rise of passive investment causes headaches for REITs
This Property Week article was based, in part, on analysis undertaken by Radnor Capital Partners. The article highlights the growth of index and passively managed funds at the expense of actively managed sector specialist funds within the UK property sector and the implications for corporate management teams.
Radnor Capital Partners working with Capital & Regional Plc
Radnor Capital Partners is pleased to announce that it will be working with Capital & Regional plc to develop a highly targeted investor access programme.
Capital & Regional plc (CAL.L) is a £420m specialist REIT focused on delivering value enhancing retail and leisure asset management opportunities across a £1 billion portfolio of in-town dominant shopping centres.
"We look forward to helping the ambitious team at Capital & Regional get their message across to the right investor audience. The combination of active asset management, dominant town centre locations and strong income credentials is attractive in the current market."
Joshua Cryer, Radnor Capital Partners
+44 (0)20 3897 1833
Next Fifteen Communications Group Plc – Final Results
NFC’s full year results did not contain any surprises following the January trading update. The key point was the continuation of the H2 high single digit organic revenue growth. Whilst this by no means guarantees the full year outcome; it is a good start and underpins current year expectations.
Investment Companies – Sector activity & Insights into the Brewin Dolphin approach to the sector
As well as covering a review of sector activity as we approach the end of the first quarter, we have some insights into Brewin Dolphin’s investments and approach to the sector from John Newland.
Active v Passive Investment – The role for Investment Companies
Amongst the reviews of 2016, the analysis of the total funds raised globally highlighted continued growth of index investing. This trend appears to have moved across the Atlantic to Europe. Morningstar indicated that in Europe active managed funds remained much larger than index funds and in index funds grew nine times faster than active funds.
UK Support Services – Investor Monitor
This will be a regular quarterly review, highlighting key investor movements across the UK quoted support services sector. We noted a material divergence between larger and smaller companies with investor trading flows negative on the larger peer group regardless of investor geography and size.
UK Real Estate – Investor Monitor
This will be a regular quarterly review, highlighting key investor movements across the UK quoted real estate sector. This analysis suggests that the initial post Brexit fears of overseas capital flight have been overblown, with overseas investors increasing their UK exposure (especially in the sub £1bn peer group) and UK investors selling.
Next Fifteen Communications Plc – Initiation of Coverage
Over the last three years the market has rewarded Next Fifteen for strong, consistent double digit North American organic growth. The high dollar exposure continues to be a positive tailwind. However, substantive progress outside the US has been overshadowed. Margins (ex US) have improved substantially and the shape of the UK business has been transformed.
North Americans go bargain hunting in UK listed sector
The biggest North American investors in UK listed property companies significantly increased their holdings immediately following the EU referendum and have since switched from investing in the biggest REITs to smaller companies, data from Radnor Capital Partners has revealed.