Aseana Properties (ASPL): Given the widening discount between its share price and net asset value (NAV), the board has announced its intentions to buy back up to 500,000 shares. The fund currently trades at a discount of almost 60%, compared with a 12-month average of 45%.
Ashmore Global Opp GBP (AGOL): BlackRock has decreased its stake by 4% to almost 44% of the global emerging market equity fund.
Blue Planet Fin. Growth & Inc (BPFU): The boards of the Blue Planet Investment Trusts are evaluating the possible merger of all 12 investment trusts to create a single, larger trust. The merger would include 10 classes of Blue Planet Financials Growth & Income fund as well as Blue Planet International Financials (BLP) and Blue Planet Worldwide Financials (BPW). The creation of a single, larger trust would lower the expense ratio, potentially raise the profile of the combined company and increase liquidity in the shares. All 12 funds combined comprise £32 million.
Dolphin Capital Investors (DCI): Lloyds Banking Group (LLOY) has topped up its holding with a purchase of over 21 million shares of the direct property fund and now holds a stake of more than 12%. The fund currently trades at a hefty discount to its NAV in excess of 86%, compared with a 12-month average of 79.5%.
Dragon Ukrainian Properties (DUPD): The £190 million direct property fund has bought back another 8 million shares in its latest tender offer. The total amount of shares tendered was over-subscribed--some 24 million were offered for tender. The fund is still trading at a hefty discount that exceeds 77%.
GCP Infrastructure Invs (GCP): Cheviot Asset Management has bought its first tranche of more than 6 million shares representing 12.6% in the infrastructure fund.