Overview
Blackstone Global Loan Financing Limited (formerly Blackstone/GSO Loan Financing Limited) invests in a portfolio of assets comprising of predominantly European senior secured loans and the most subordinated tranches of debt issued by collateralised loan obligations (“CLOs”, such tranches being “CLO Income Notes”) issued by CLOs that are managed by Blackstone.
The company is targeting an annual dividend of 8 per cent, with expectation for progressive growth, and a mid-teen total return over the medium term.
At the end of June 2017, the fund introduced a sterling quote for the shares (BGLP) which, apart from the currency that the shares are traded in, is exactly the same as BGLF. NB the underlying portfolio for BGLP is not hedged back into sterling.
You can access the fund’s website here
Fundamentals
Price
Research History
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17 Oct 2023 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2023
Third quarter of 2023 Investment Companies | Quarterly roundup | October 2023 Kindly sponsored by abrdn ‘Uncomfortable’ Following a fast start to the first half of the year, globally equities took a breather in Q3, as markets assessed the implications of the worst bond sell-off in a generation. Yields on 10-year US treasuries and UK […]
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14 Sep 2023 9 min read
QuotedData’s Investment Companies Roundup – September 2023
September 2023 Monthly roundup | Investment companies Kindly sponsored by abrdn Winners and losers in August 2023 Share price total returns for investment companies were generally poor over August, with the best performing sector, Debt – Structured Finance, returning just 2.1%, with only a few sectors managing to eke out a positive total return. Funds […]
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09 Feb 2023 9 min read
QuotedData’s Investment Companies Roundup – February 2023
February 2023 Monthly roundup | Investment companies Winners and losers in January 2023 In a month where winners far outweighed losers, once again Chinese funds feature amongst the best-performing investment companies over the month, taking many of the top slots. China has barrelled ahead with the reopening of its economy following the lifting of COVID-related […]
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to […]
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14 Jul 2020 9 min read
QuotedData’s Investment Companies Quarterly Review – Second Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit When the going gets […]
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08 Jun 2020 8 min read
QuotedData’s Economic Roundup – June 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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12 Nov 2019 5 min read
QuotedData’s investment companies roundup – November 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over October, we published notes on Pacific Horizon, Seneca Global Income & Growth, Premier Global Infrastructure, Polar Capital Global Financials, Ecofin Global Utilities and Infrastructure, Aberdeen Standard European Logistics Income and Herald. Additionally, as part of our enhanced coverage of the property sector, we launched […]
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18 Jan 2019 1 min read
QuotedData’s investment companies roundup – January 2019
QuotedData’s investment companies roundup – January 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2018. Kindly sponsored by Baillie Gifford. Extract from money raised and returned in December The only new issue […]
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12 Oct 2018 1 min read
QuotedData’s Economic round up – October 2018
QuotedData’s Economic round up – October 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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11 May 2018 1 min read
QuotedData’s Economic round up – May 2018
QuotedData’s economic round up – May 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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18 Apr 2018 1 min read
QuotedData’s Economic round up – April 2018
QuotedData’s economic round up – April 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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12 Oct 2017 1 min read
QuotedData’s economic round up – October 2017
QuotedData’s economic round up – October 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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16 May 2017 1 min read
QuotedData’s economic round up – May 2017
QuotedData’s economic round up – May 2017 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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13 Oct 2016 1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
News
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22 Nov 2024 1 min read
QuotedData’s weekly news show 22nd November 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Blackstone Loan Financing (0:19) Edinburgh Worldwide (4:17) Miton UK MicroCap (9:36) This week’s interview was with Alex Crooke from Bankers Investment Trust – watch it again here.
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2 min read
Blackstone Loan Financing PPN sale could significantly accelerate wind down
Blackstone Loan Financing Limited (BGLF) says that it has entered into a conditional agreement for the sale of 100% of the Profit Participating Notes (PPNs) to an entity that is an affiliate of its manager. The transaction is subject to shareholder approval and certain other conditions but, if it proceeds, BGLF says that the deal […]
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21 Nov 2024 2 min read
QuotedData’s morning briefing 21 November 2024 – SHRS, BGLF, EBOX, WHR, SOHO, CRT
In QuotedData’s morning briefing 21 November 2024: Shires Income (SHRS) announced its interim results for the six months to 30 September 2024. The company delivered a NAV total return of 6.8%, compared to a benchmark return of 6.1%. The share price total return was 14.5%, resulting in a narrowing of the discount of share price […]
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08 Nov 2024 1 min read
QuotedData’s morning briefing 8 November 2024 – BGLF, BPCR, WKP, NBDX, NBDG
In QuotedData’s morning briefing 8 November 2024: Blackstone Loan Financing (BGLF) has announced that further to the approval given by the company’s shareholders to enable compulsory redemptions of its redeemable ordinary shares and following the first redemption made by the company on 10 June 2024, BGLF has announced that it will return approximately €61m by […]
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23 May 2024 1 min read
QuotedData’s morning briefing 23 May 2024 – BGLF, CRS, INOV, IPU
In QuotedData’s morning briefing 23 May 2024: Blackstone Loan Financing (BGLF) will hand back €23m to its shareholders by way of a compulsory partial redemption of up to 24,779,142 shares on 10 June 2024. On this basis, a holder of 10,000 shares will have 559 shares redeemed, and receive €518.86 in cash. Crystal Amber (CRS) […]
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29 Apr 2024 2 min read
Blackstone Loan Financing’s first results under its new wind-down policy
Blackstone Loan Financing (BGLF) has released its annual results for the 12 months ending 31 December 2023. BGLF reported a NAV total return of 10.39%, based on its published NAV, ending the period with a NAV of €0.9098 per share. BGLF also reports on an IFRS NAV basis, under which it returned a share price […]
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15 Sep 2023 1 min read
QuotedData’s morning briefing 15 September 2023 – SUPR, GSEO, BGLF
In QuotedData’s morning briefing 15 September 2023: VH Global Sustainable Energy Opportunities (GSEO) has announced that it will implement at £10m share buyback program. The board remains aware of the impact of GSEO’s discount, and will undertake buybacks when it believes to be in the interest of shareholders. Blackstone Loan Financing (BGLF) has announced that […]
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30 Jun 2023 1 min read
QuotedData’s weekly news show 30th June 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Blackstone Loan Financing (0:34) • Mid Wynd International (6:45) • Ecofin US Renewables (10:30) This week’s interview was with Gervais Williams from Miton UK […]
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26 Jun 2023 2 min read
Blackstone Loan Financing to be wound up
Blackstone Loan Financing (BGLF) has announced that following extensive consultation with external advisors, the trust has unanimously recommended to shareholders to vote in favour of a managed wind-down. While BGLF has generated strong performance over its nine-year life, the board felt that the current factors weighing on the trust are sufficient to justify its wind-down. […]
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28 Apr 2023 8 min read
Blackstone Loan Financing plans 2024 continuation vote if discount persists
Blackstone Loan Financing (BGLF) has released its annual results for the year ended 31 December 2022. Key takeaways are that while performance was supported by robust distributions, the discount to NAV remains wide and the board launched a shareholder consultation in January to look at this. Conclusions were announced in March and steps will now […]
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17 Mar 2023 1 min read
QuotedData’s weekly news show 17th March 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: • abrdn Latin American Income (0:23) • Blackstone Loan Financing (5:16) • Ediston Property Investment Company (9:11) • Scottish Mortgage (12:56) This […]
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1 min read
QuotedData’s morning briefing 17 March 2023
Blackstone Loan Financing Limited (BGLF / BGLP) announced the results of its shareholder consultation for the purpose of addressing potential policy amendments in light of the prevailing and persistent discount to net asset value at which the company’s shares trade. There were no significant changes resulting from the meeting, however, the board will propose a […]
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03 May 2022 2 min read
QuotedData’s morning briefing 3 May 2022
In QuotedData’s morning briefing 3 May 2022: BlackRock Energy and Resources Income (BERI) is asking shareholders for permission to issue more shares after an upsurge of interest in the trust meant that it has already issued all the shares that it was given permission to at the last AGM. Blackstone Loan Financing (BGLF) generated a […]
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01 Jun 2021 2 min read
QuotedData’s morning briefing 1 June 2021
In QuotedData’s morning briefing 1 June 2021: Blackstone Loan Financing has announced plans for a share repurchase programme to repurchase ordinary shares within certain pre-set parameters, following the expiry of the previous programme on 26 May 2021. The new share repurchase programme will start today and will run until the company’s upcoming AGM on 23 July […]
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08 Dec 2020 2 min read
QuotedData’s morning briefing 8 December 2020
In QuotedData’s morning briefing 8 December 2020 – Syncona’s Autolius reported positive results in its ALLCAR Phase 1 study, where it is using AUTO1 to treat Adult Acute Lymphoblastic Leukemia. COVID has delayed phase 2 – it says that “…enrolment projections have had to be adjusted. We now expect to enroll patients throughout 2021 with a […]
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24 Oct 2019 1 min read
QuotedData’s other news 24 October 2019
In QuotedData’s other news 24 October 2019 Gabelli Merger Plus reported a return of 3.7% on NAV but, after discount widening, a return to shareholders of -6.5% for the year ended 30 June 2019. The best index comparisons are probably the S&P Merger Arbitrage Index which returned 8.33%, and the CS Merger Arbitrage Liquid Index, up […]
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04 Jan 2019 1 min read
Carador Income rollover into Blackstone/GSO Loan Financing held up by AML checks
Carador Income Fund (CIFU) and Blackstone/GSO Loan Financing (BGLF) have announced that the rollover of CIFU shares into new BGLF C shares has been delayed because the anti-money laundering (AML) checks have not been completed in time. The companies say that this is “partly due to seasonal factors”. As a consequence, the capital reorganisation has […]
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13 Feb 2018 2 min read
Blackstone GSO Loan Financing comments on US court decision
Blackstone GSO Loan Financing comments on US court decision – on Friday, 9 February 2018, the U.S. Court of Appeals for the D.C. Circuit ruled in favour of the Loan Syndications and Trading Association (“LSTA”) in its lawsuit against the U.S. Securities and Exchange Commission (“SEC”) and the Federal Reserve, determining that U.S. CLO managers […]
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15 Dec 2017 4 min read
Henderson Alternative Strategies benefits from marked discount narrowing
Henderson Alternative Strategies Trust (HAST) has announced its annual results for the year ended 30 September 2017. During the period, HAST provided an NAV total return of 10.8% and, reflecting a marked narrowing of the discount, a share price total return of 19.8%. The share price performance is superior to that of the company’s benchmark, […]
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22 Jun 2017 1 min read
Blackstone / GSO Loan Financing to seek premium LSE listing
Blackstone / GSO Loan Financing (BGLF) has announced that it intends to apply to the UK Listing Authority (UKLA) for admission of the Company’s shares to a premium listing on the Official List and to the LSE for trading of the Company’s shares on the Premium Segment of the Main Market of the LSE. At […]
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26 Apr 2017 2 min read
Blackstone/GSO Loan Financing returned more than 13% in 2016
Blackstone/GSO Loan Financing delivered a total NAV return per Euro share of 13.28% in 2016, finishing the year with a NAV per Euro share at EUR1.0238. The Euro shares finished the year at a discount to NAV of 1.10%. They paid four dividends in respect of the reporting period ended 31 December 2016, equating to an […]
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06 Mar 2017 1 min read
Blackstone / GSO Loan Financing raises €72.8m from placing
Blackstone / GSO Loan Financing has announced the result of its placing of Euro ordinary shares, which were issued under its placing programme. The Placing raised €72.8m (before costs and expenses) through the issue of 71,380,746 new Euro ordinary shares at a price of €1.02 per share. The Placing price represents a premium of approximately […]
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16 Feb 2017 1 min read
Alan Kerr leaves Blackstone/GSO team
Blackstone / GSO Debt Funds Management Europe Limited has informed Blackstone/GSO Loan Financing that Alan Kerr has decided to leave GSO during 2017. Mr. Kerr is a Senior Managing Director and Head of GSO’s European Customized Credit Strategies business (“CCS”). Mr. Kerr joined GSO in 2012 at the time of Blackstone’s acquisition of Harbourmaster Capital […]
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28 Sep 2016 1 min read
Blackstone/GSO Loan Financing working on ninth CLO
Blackstone/GSO Loan Financing has published interim results for the six months ended 30 June 2016. The Board says it is pleased with a positive Net Asset Value total return of 7.75% for the period from 1 January 2016 to 30 June 2016. During the period covered by this Half Yearly Financial Report, the company targeted a […]
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02 Sep 2016 1 min read
Blackstone / GSO Loan Financing announces an increase in its target dividend
Blackstone / GSO Loan Financing has announced that it is increasing its target dividend to €0.10 per share from €0.08 per share. The company says that, in line with its stated investment strategy, it has originated 9 CLOs since launch and retained majority interests in the income notes in each of them. As at 29 […]
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25 Apr 2016 1 min read
Property and infrastructure trusts see inflows in Q1
Volatility has meant that no investment trusts were launched over the first quarter of this year, while money that was raised was focused around property and infrastructure trusts, according to QuotedData. See more at: http://www.portfolio-adviser.com/news/1028797/property-infrastructure-trusts-inflows-q1#sthash.uWHsqkEA.dpuf
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1 min read
2015 a difficult year for debt markets says Carador
During the year ended 31 December 2015, Carador Income Fund generated a total NAV return of -9.71% including distributions. The Credit Suisse High Yield Index lost 4.93% in 2015, the fourth-worst year in its 30-year history. The Credit Suisse Leveraged Loan Index fared better but still fell 0.38%, representing only the second negative annual return in its […]
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22 Apr 2016 1 min read
Blackstone/GSO delivers 8% return for 2015
Blackstone/GSO Loan Financing has published its accounts for 2015 (figures are in Euros unless otherwise indicated). The fund returned just over 8% for the year. Over the period its NAV fell from 99 cents to 98.39 cents and its share price fell from 101 cents to 98 cents. BGLF paid dividends of 8 cents (2 cents […]
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27 Jan 2016 1 min read
Carador’s target annual dividend is reduced to US$0.90 per share
Carador Income Fund has provided an update on its dividend strategy and outlook for 2016. The company says that, on the basis of current market conditions and the construction of the Company’s portfolio, the Directors anticipate that for 2016 the Company will achieve a target annual dividend of $0.090 per U.S. Dollar Share (distributed evenly […]
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21 Dec 2015 3 min read
Henderson Alternative Strategies sees performance pick up in second half
Henderson Alternative Strategies Trust has announced its annual results for the year ended 30 September 2015. During the period, the Company delivered a NAV total return of -5.0% compared with a 0.8% rise in its FTSE World Total Return Index global equity benchmark. However, the board say that they are very encouraged to see that […]
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14 Dec 2015 1 min read
Blackstone / GSO Loan Financing considering raising a fundraise
Blackstone / GSO Loan Financing has announced that it is considering raising additional capital through an issue of shares. The company’s board say that this reflects what they consider to be an attractive investment and funding environment. They also say that any fundraise will be subject to market conditions and further details will be announced in due […]
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31 Aug 2015 1 min read
28 August interim results roundup
A quick summary of interim results for periods ended 30 June 2015 announced on 28 August 2015 Aberdeen Smaller Companies High Income NAV total return 15.8%, share price total return 21.8%. Well ahead of FTSE Small Cap Index ex Investment Companies return of 11.9%. Outperformance helped by bids for Domino Printing and Anite Candover NAV […]
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28 Aug 2015 1 min read
27 August interim results roundup
A quick summary of interim results for periods ended 30 June 2015 announced on 27 August 2015 Ashmore Global Opportunities The Company’s Net Asset Values (“NAVs”) per share have fallen slightly from $5.28 and 521p at the end of 2014 to $5.20 and 511p as at 30 June 2015. The US$ and GBP share prices […]
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01 May 2015 1 min read
Carador beats loan and high yield indices in 2014
Carador has published its results for 2014. The statement says risk assets and sub-investment grade corporate credit markets in particular experienced considerable price volatility with the Credit Suisse Indices for both leveraged loans and high yield bonds delivering just 2.1% and 1.9%, respectively. Against this backdrop, the Company delivered a 6.3% total shareholder return in 2014, outperforming the […]
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1 min read
Blackstone/GSO says everything going according to plan
Blackstone/GSO Loan Financing has published its first set of results covering the period from incorporation, through IPO on 23 July 2014 to the end of December 2014. By the end of the year they were only 32% invested and even now this only up to 51% but they knew it would take time and say […]
Upcoming Events
In The Press
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27 Mar 2023 1 min read
Investment trust insider on debt funds
Investment trust insider on debt funds – James Carthew: Float your eye over debt funds As interest rates continue to climb, the future returns available from debt funds are looking more interesting. However, the picture is clouded by concerns about defaults. Some closed-end funds that should probably be raking in new money from investors are […]
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27 Jun 2022 1 min read
Investment trust insider on structured finance funds
Investment trust insider on structured finance funds – James Carthew: Debt funds wobble as recession risk rises With inflation and interest rates still climbing, and the threat of recession looming closer on the horizon, it’s time to consider the impact on the £1.7bn structured finance sector. These are high-yielding funds that invest in asset-backed securities, […]
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14 Apr 2020 2 min read
The out of favour trusts that are cheap for a reason
The out-of-favour investment trusts that are cheap for a reason Investors on the lookout for investment trust bargains risk catching the proverbial falling knife. Money Observer, April 8, 2020 by Kyle Caldwell Substantial stock market corrections offer brave investors the chance to go bargain-hunting, but the big caveat and trade-off is the risk of catching the proverbial falling knife. […]
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07 Feb 2019 1 min read
Investment Trust Insider on M&G Credit Income
Investment Trust Insider on M&G Credit Income – James Carthew: M&G hopes lower bond target will still appeal after loan wobble It was not only equity markets that struggled at the end of last year, many debt funds had a torrid time. One of the worst affected has been Marble Point Loan Financing (MPLF). It said […]
