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QuotedData’s morning briefing 23 March 2021

QuotedData's Morning briefing

In QuotedData’s morning briefing 23 March 2021:

  • Axiom European Financial Debt reports flat returns to shareholders and 1.7% return on NAV for 2020. NAV and share price falls were offset by income. The dividend was maintained at 6p and the company thinks this is sustainable in 2021. The report breaks down activity and returns month by month and is available on the company’s website.
  • GCP Asset Backed Income’s results for 2020 show a big drop in its share price – from 108.5p to 91.3p, a small increase in the dividend – from 6.45p to 6.475p, and an NAV total return of 6.5%. “The portfolio comprised 50 loans at 31 December 2020, 89% of which are secured against physical assets offering strong downside and capital protection. The remainder of the loans are secured against contracted cash flows with robust underlying contractual protection in place.”
  • KKV Secured Loan Fund has made its first sale of an anaerobic digestion plant since KKV Investment Management commenced management of the portfolio. The investment originally formed part of the portfolio of the ordinary share class. The sale proceeds are £2.9m. This loan was marked as Borrower 13 in the June 2020 accounts, with a carrying value of £3.05m. The directors intend to convene a board meeting in the near future to consider a further return of capital.

We also have results from Temple Bar and Symphony International, interims from Target Healthcare REIT, a setback for BB Biotech plus an acquisition by JLEN Environmental 

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