Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MEDICX FUND LTD. We currently have 17 research reports from 3 professional analysts.
|05Jan17 03:06||RNS||Issue of ordinary shares|
|05Jan17 11:55||RNS||Issue of ordinary shares|
|05Jan17 09:00||RNS||Total voting rights|
|05Jan17 09:00||RNS||Allotment of scrip shares to Investment Adviser|
|05Jan17 09:00||RNS||Allotment of scrip shares to Directors|
|19Dec16 02:20||RNS||Issue of ordinary shares and property disposal|
|13Dec16 07:00||RNS||Full Year Results 2016|
Frequency of research reports
Research reports on
MEDICX FUND LTD
MEDICX FUND LTD
A year of solid progress
15 Dec 16
MedicX Fund’s (MXF) FY16 results show progress on several key measures including adjusted EPS, EPRA NAV, DPS and dividend cover: EPRA NAV total return for the year was 11.8%. The portfolio was expanded while the cost of debt remained unchanged and its maturity is still closely matched to unexpired lease lengths. A change of the advisory agreement will reduce future incremental fees and the board is examining the benefits of converting the fund to a REIT. We have slightly adjusted our FY17 estimates to take account of better-than-expected performance in FY16 and expected future yield compression, and extended these into FY18.
More Irish expansion
11 Aug 16
Continuing yield compression generated additional valuation gains in Q3, while selective acquisitions continue at MedicX. The EU referendum result has no impact on the fundamental drivers of primary care and we doubt that the political will to deliver healthcare reforms will be dented. As a long-term investor in a broad portfolio of modern primary care properties, MedicX Fund has very secure, long-term cash flows to support the c 6.7% progressive dividend yield, while portfolio growth is increasing dividend cover. Lease duration is long and quasi-government backed, while debt is of similar duration with the cost fixed (gearing of 52.3% at 31 March 2016).
Continuing to find opportunities
07 Jun 16
In H116 MedicX Fund continued to selectively add assets, despite a highly competitive UK investment market, and it maintains a strong investment pipeline in both the UK and Republic of Ireland. Profit progression during the period was limited by the time between drawing on funding and income generation from investment; as this unwinds, earnings growth should pick up, supported by the new management fee structure. As a long-term investor in modern primary care properties in the UK and the Republic of Ireland, the fund should benefit from growing demand to meet healthcare needs. Leases are long, substantially government backed, and funded by fixed rate debt (c 52% LTV) of similar duration, underpinning secure cash flows to support the 6.8% prospective yield.
Hardman Monthly - April 2016
01 Apr 16
Our key feature this month is a review of the UK/EU Electricity sector by Nigel Hawkins who has recently joined Hardman to cover the utilities and renewable energy market. Nigel has had a long career in the City covering both industries having worked at Hoare Govett covering water and electricity privatisation, and at Yamaichi and W de Bröe.
Hardman Monthly – March 2016
08 Mar 16
This month’s feature article is the first publication of the top 15 drug companies in the 2015 global industry ranking and how this has changed over the last decade. In trying to analyse the changes that have taken place, we have looked at different strategies used by management teams. Many companies are featured, but there is emphasis on GlaxoSmithKline (GSK), AstraZeneca (AZN) and Shire Pharmaceuticals (SHP). In addition, we have analysed how drugs derived from antibodies have driven market growth and now represent just over 10% of annual industry sales.
Rent roll and NAV progress
18 Feb 16
Further property acquisitions and continued yield compression has seen the Fund’s rent roll and NAV per share continue to increase in Q116. The recent FY15 results showed strong underlying profit growth with operational gearing on target. A revised management fee will limit cost increases going forward. MXF is a long-term investor in a portfolio of modern primary care properties in the UK and the Republic of Ireland on long, quasi government-backed leases. Similar duration fixed-rate debt at modest (c 50%) gearing underpins secure cash flows to support the c 7% prospective yield.
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - Northern lights - Shining prospects for 2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.
N+1 Singer - Morning Song 16-01-2017
16 Jan 17
APPLIED GRAPHENE MATERIALS PLC (AGM LN) | BELLWAY (BWY LN) | GOALS SOCCER CENTRES (GOAL LN) | GRAFENIA PLC (GRA LN) | GRAINGER PLC (GRI LN) | GREGGS (GRG LN) | HARGREAVES SERVICES (HSP LN) | IMMUNODIAGNOSTIC SYSTEMS HLDGS (IDH LN) | INSTEM PLC (INS LN) | KROMEK GROUP PLC (KMK LN) | NORTHGATE PLC (NTG LN) | QUANTUM PHARMA PLC (QP/ LN) | RHYTHMONE PLC (RTHM LN) | SCS GROUP PLC (SCS LN) | SHIELD THERAPEUTICS PLC (STX LN) | SQS SOFTWARE QUALITY SYSTEMS AG (SQS LN) | UTILITYWISE PLC (UTW LN) | VERTU MOTORS PLC (VTU LN) | VISLINK PLC (VLK LN) | ZYTRONIC (ZYT LN)
N+1 Singer - Morning Song 19-01-2017
19 Jan 17
ACTUAL EXPERIENCE PLC (ACT LN) | BAGIR GRP LTD (BAGR LN) | BIOQUELL (BQE LN) | BROWN(N.)GROUP (BWNG LN) | CARADOR INCOME FUND PLC (CIFU LN) | HALFORDS GROUP (HFD LN) | NCC GROUP (NCC LN) | ST IVES PLC (SIV LN) | SUMMIT THERAPEUTICS PLC (SUMM LN) | WILMINGTON PLC (WIL LN)
Small Cap Breakfast
19 Jan 17
SuperAwesome — The London based specialist in e-compliance is considering an IPO in its home town according to City A.M. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January