- Some encouraging signs from around the world, with countries ranging from Italy, Portugal, Thailand and Nigeria, beginning to ease lockdowns.
- NB Private Equity Partners (NBPE) agreed with Massachusetts Mutual Life Insurance Company to increase the existing credit facility by $50m to $300m.
- Downing Strategic Micro-Cap (DSM) reported annual results to 29 February 2020, with the company’s 12-company portfolio delivering an NAV return of (5.7%) over the year. With respect to its exposure to covid-19, DSM says all its companies have an identifiable ‘niche’ and should continue to have ‘survivability’ for the products and services that they offer. They add that they have little direct exposure to high street retail and leisure sectors.
Elsewhere, Polar Capital Global Financials announced that it expects to pay dividends for the current year, at levels equivalent to last year. The global banking sector is in considerably better shape than it was going into the 2008 global financial crisis.