QuotedData’s other news – 24 April 2019

QuotedData’s other news – 24 April 2019

The board of JPMorgan Russian Securities (JRS) announced this morning that Gill Nott has joined the board of directors as chairman of the US Solar Fund (USF), which commenced trading on the main market of the London Stock Exchange on 16th April 2019

Elsewhere, Henderson International Income (HINT) last night reported unaudited half-year results to February 28, 2019. During the period, NAV total return per ordinary share -6.9%. HINT’s return on the ordinary share price (on the same basis) was -5.3%. In comparison, the benchmark total return was -5.5% (MSCI World (ex UK) Index (sterling adjusted)).

Aurora’s results showed the NAV underperforming the All-Share Index over the year to the end of December 2018 (NAV -10.3%, All-Share -9.5%), cumulative underperformance since Phoenix took on the trust 4.4%. The company will hold a continuation vote at the next AGM on 10 June 2019. Final dividend of 4p.

P2P delivered a Net Asset Value return of 5.21% for the year ended 31 December 2018. The dividend was increased to 48p from 47p but this was not covered by earnings (although earnings for the last quarter of the year did exceed the dividend payable for that quarter). The company had a better bad debt experience than in 2017. The company continued to increase its exposure to property backed and structured lending (where P2P is cushioned as the loan originator has first loss equity). This part of the portfolio was more than 60% of NAV by the year end. P2P says it is forging strong partnerships with secured lenders; Zorin Finance and Castlehaven Finance in Ireland. By contrast, the manager reduced exposure to certain mainstream consumer assets. This was achieved through natural run off and the sale of charged off loan portfolios at a premium to carrying value and a US consumer lending portfolio in December 2018. This created liquidity to invest in more specialist assets in the US that were available in the pipeline.

Other stories announced today were:

ICG-Longbow Senior Secured UK Property Debt Investments reports annuals

Yew Grove REIT upbeat on Irish economy 

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