Duet Real Estate Finance Limited has announced its half-yearly results for the period from 1 January 2016 to 30 June 2016.
- A total of 14.93 pence per share (period to 30 2015: 23.51 pence) has been returned by way of B share issues and redemptions in the six months ended 30 June 2016. In August 2016 a further 7.67 pence per share was returned by way of the same mechanism.
- The NAV total return for the six months ended 30 June 2016 was 1.0% (period to 30 June 2015: 3.6%) including dividends paid and adjusted for capital returned in the period.
- The total shareholder return in the six months ended 30 June 2016 was 35.8% (period to 30 June 2015: 9.1%) including dividends paid and adjusted for capital returned in the period, reflecting a much reduced discount of the share price to NAV
- The Master Fund continues its realisation phase and will continue to receive repayments of or sell off its underlying investments and return capital to the Company. The Directors intend to continue to distribute such proceeds to shareholders by way of further B share issues and redemptions.
DREF : Duet Real Estate Finance benefits from discount narrowing