QuotedData’s Morning Briefing 13 November 2020

QuotedData's morning briefing

In QuotedData’s Morning Briefing 13 November 2020:

  • EPE Special Opportunities (ESO) has announced that it has completed a $2.5 million investment in a segregated account of Prelude Structured Alternatives Master Fund LP, which will invest in distressed credit opportunities, targeting a fund level gross annual return of 6-8%. ESO is investing in junior tranche and it says it will benefit from a leveraged position, receiving an equity-like return. It also says that the strategy will benefit from increased opportunities generated by the default cycle expected in credit markets over the coming period.
  • KKV Secured Loan Fund has announced details of its board’s recommended proposals for a managed wind-down of the Company. A circular in connection with the Proposals is expected to be posted to Shareholders later today containing, amongst other things, a letter from the Chairman of the Company, an expected timetable of principal events, notices of the EGM, Ordinary Share Class Meeting and C Share Class Meeting and details of the actions to be taken by Shareholders, together with the Forms of Proxy for the Meetings.

We also have annual results for AVI Global (its NAV has bounced right back recovering all the ground lost during the pandemic), annual results for Schroder Oriental Income (it fell short of its benchmark but the board think this is a good result given investors have focused on growth stocks and Asian income stocks have been left behind), and Hipgnosis Songs Fund’s purchase of a 50% share in Rick James’s catalogue.

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