Funding Circle SME Income Fund has published a set of accounts covering the period from 1 April 2016 to 30 September 2016. At the end of the period, the NAV was 99.64p, the share price 102.5p and the shares were trading at a premium of 2.9%. They say that the company has successfully deployed GBP151.9 million of its total capital of GBP161.2 million (including the £15m issue proceeds received in July 2016).
To date, the delinquency profile falls within the range modelled at IPO. They fully hedge foreign currency exposures back to Sterling by virtue of a third party managed currency hedging programme and have no plans to change this arrangement. They expect to be open to new equity issuance with effect from the end of January 2017, in both ordinary and C share form. Further announcements will be made in that regard as appropriate.
FCIF : Funding Circle hopes to expand