Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MENHADEN CAPITAL PLC. We currently have 3 research reports from 1 professional analysts.
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MENHADEN CAPITAL PLC
MENHADEN CAPITAL PLC
2016 YTD Fund raising review – Topping up
05 Oct 16
Secondary issuance has dominated in 2016. 3i Infrastructure (3IN) led with a monster £385m raise (target: £350m) in May. At a sector level, infrastructure (£700m), property (£500m, mostly pre-Brexit vote), and renewables (£340m) tapped heavily in Q2 & Q3 2016. The IPO market remains quiet with only one primary launch in 2016; Hadrian’s Wall Secured Investments (HWSL) raised £80m for secured lending to SMEs including equipment finance, property development, and commercial loans. We also note that six funds have repurchased more than £50m of stock YTD.
16 Oct 15
The rout in commodity prices and emerging markets that caused a wider sell-off in global equity markets appeared to slow the pace of issuance in the sector during Q3. Secondary issuance comprised the bulk of flows; only one of the four IPOs managed to raise more than £100m. Two launches incorporated asset swaps i.e. weren’t exclusively new money. This quarter we have moved to use AIC sector definitions and also show net as well as gross flows to better gauge sentiment. A net £2.1bn of equity was issued in Q3 (£2.5bn gross), down from £3.3bn in Q2 (£3.8bn gross). Securitised debt topped the list, attracting a net £1.3bn, more than five times that of renewables, the next most popular sector. UK Mortgages Ltd (UKML.L) IPOed with £250m to invest in UK residential mortgages with a target total return of 7-10%. GLI Alternative Finance (GLAF.L) launched with a market cap c£53m of which c£10m was new money; the portfolio was seeded by GLI Finance (GLIF.L) in exchange for shares in the new vehicle. Fair Oaks Income Fund raised a £65m C-Share and Starwood raised £44m via a placing at the end of September. VPC Speciality (VSL.L) closed out the quarter with a £183m C-share.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
10 for 17
09 Jan 17
As always at the start of a year, there are significant uncertainties about the year ahead but I think in 2017, the level of uncertainly has decisively moved up a gear. In fact, a leading economist at the LSE, Ethan Ilzetzki, was recently quoted as saying “I view the current global economic environment as the most uncertain in modern history”. Wow.
11 Jan 17
Joules Group (JOU): Strong festive trading (BUY) | Shoe Zone (SHOE): Tough FY16 could be just the beginning (HOLD) | H&T (HAT): Alternative lender emerging (BUY) | Omega Diagnostics* (ODX): ISO accreditation received for Pune, India (CORP) | Redcentric* (RCN): Interims – restoring forecasts (CORP)