KCR Residential Reit board directors survive an attempt to oust them and debt fund Sequoia Economic Infrastructure Income Fund says tariff pressures eased last month.

KCR Residential Reit (KCR) says resolutions to replace all its board directors were soundly defeated at yesterday’s annual general meeting with the support of Torchlight Fund, which holds a 55.4% stake of 23.1m shares in the £5m company.

Sequoia Economic Infrastructure Income Fund (SEQI) says net asset value of its debt portfolio rose 0.77p to 91.7pp per share in June. Tariff fears eased during the month, says the company, with the US signalling a willingness to negotiate exemptions on a country-by-country basis. “This emphasis on deal-making over blanket implementation has provided a degree of reassurance to markets,” SEQI says. The shares yield 8.5% and stood on a 12.5% discount last night.

Real Estate Credit Investments Limited (RECI), a 9.6%-yielding debt fund trading on a 12% discount, says its net asset value rose 1p to 146.6p in June with income, valuations and currency movements offsetting expenses. At 30 June the company had 24 investments valued at £309.1m and cash of £16.6m. RECI committed £21.3m into a loan for the development of two logistics assets in Italy. A further £25.9m was committed into a loan for the acquisition of a newly built hotel in Spain. This deal is due to fund in July 2025.