Duet Real Estate Finance has announced results for the year ended 31 December 2013. The net asset value fell from 98.5p to 93.5p but Duet real Estate finance paid dividends totalling 10p for the year so the total return on the net asset value was 5.1%. The share price fell from 90.5p to 86.5p and the total return on the share price was 6.6%.
Since the end of 2013 Duet Real Estate Finance has received proceeds from the realisation of three loans and is planning to return £10m to shareholders using a redeemable B share issue. The underlying Master Fund is now in its realisation phase and the Board say Duet Real Estate Finance is still on track to make cash distributions in excess of 7% per annum (based on the £1 issue price) and distribute capital via further B share issues.