Overview
GCP Asset Backed Income Fund : GABI (formerly Project Finance Investments : PROJ) aims to generate attractive risk-adjusted returns that are delivered primarily through regular, growing distributions and modest capital appreciation over the long term. It seeks to achieve this by investing in a portfolio that is comprised primarily of UK project finance debt investments. Project finance is primarily focused on long term finance of infrastructure and industrial projects. Such projects typically have contracted, predictable medium to long term cash flows and/or physical assets against which financing can be secured. The investments are typically made in a single purpose, ring fenced company that owns the contract or the asset forming the project, therefore the exposure is to the performance of that contract or asset only. The debt financing is typically secured by all of the project assets, including the revenue-generating contracts. Project lenders are given security on all of these assets and the lenders (or the highest ranking lender, if there is more than one) are able to assume control of a project if the project company has difficulties complying with the loan terms.
The fund manager’s website can be found here.
GCP Asset Backed Income Fund : GABI
Fundamentals
Price
Research History
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07 Oct 2019 8 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and 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 […]
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05 Jul 2019 4 min read
QuotedData’s investment companies roundup – July 2019
Investment Companies Roundup New research Over June, we published notes on CQS Natural Resources Growth and Income, Standard Life Private Equity and Shires Income. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – there was a greater appetite for risk in June as […]
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08 May 2019 4 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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05 Apr 2019 6 min read
QuotedData’s economic roundup – April 2019
Kindly sponsored by Polar Capital Economic & Political Roundup 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 […]
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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 2 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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07 Dec 2016 1 min read
QuotedData investment companies roundup – December 2016
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 November 2016. december-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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26 Jan 2021 3 min read
QuotedData’s morning briefing 26 January 2021
In QuotedData’s morning briefing 26 January 2021: Apax Global Alpha is investing €20m (indirectly, through its investment in Apax X Fund) in PIB Group, a leading independent specialist insurance intermediary launched in 2015. PIB is a highly diversified insurance distribution consolidator focusing on specialist commercial lines and non-standard personal lines products with deep expertise across both direct […]
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04 Dec 2020 3 min read
Gravis Capital ties up with Orix Corporation
Gravis Capital Management Limited (Gravis), the manager of GCP Infrastructure, GCP Student Living and GCP Asset Back Income, has announced that it has entered into a strategic partnership with ORIX Corporation (ORIX) whereby ORIX will acquire a 70% equity stake in the Gravis business. ORIX is a diversified financial services group. The announcement says that ORIX’s […]
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15 Jul 2020 2 min read
QuotedData’s morning briefing 15 July 2020
GCP Asset Backed Income (GABI) said that so far, in the current financial year to 31 December, it has received all expected interest and principal on time and in full, while also generating significant fees from early loan repayments. In its outlook, GABI said: “The loan book continues to perform and the dividend remains fully covered. The […]
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21 Apr 2020 1 min read
QuotedData’s morning briefing 21 April 2020
In QuotedData’s morning briefing 21 April 2020, as US oil prices go negative for the first time: Yesterday Big Yellow announced plans to raise up to £80m via a placing of shares. It wants the money to buy land to expand its portfolio. It has 13 development sites, three of which are soon to complete (adding […]
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19 Mar 2020 3 min read
GCP Asset Backed Income expects to slow rate of deployment into new investments
Over GCP Asset Backed Income’s (GABI) annual results period to 31 December 2019, the company advanced loans of £89.4m advanced against 29 projects with a further £40.3m secured against five projects, advanced post year end. Over the period: Total shareholder return for the year of 10.2% (31 December 2018: 9.1%) and an annualised total shareholder return since […]
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17 Feb 2020 1 min read
QuotedData’s other news 17 February 2020
In QuotedData’s other news 17 February 2020 GCP Asset Backed Income has earned £1m from an early repayment fee as loans it had made that were secured against two co-living properties were repaid – the £49m freed up was immediately redeployed as £53m was lent to the same borrower. The new loan totals £140m (with the […]
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16 Jan 2020 1 min read
GCP Asset Backed Income credit facility increased
GCP Asset Backed Income (GABI), which invests in asset backed loans, has this morning announced that it has entered into an agreement with Royal Bank of Scotland International in respect of an increase to the revolving credit facility for an amount of £50m, split as £40m maturing in August 2020 (plus a 12-month extension option, […]
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25 Nov 2019 2 min read
QuotedData’s other news 25 November 2019
In QuotedData’s other news 25 November 2019 – Templeton Emerging Markets (TEM) reported half-year results to 30 September 2019 with NAV and the shares increasing by +6.3% +4.4% in total return terms, respectively. This compared with +2.2% from the MSCI Emerging Markets Index. Chairman, Paul Manduca, noted: “Given the current political background, equity markets are likely […]
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07 Nov 2019 1 min read
QuotedData’s other news 7 November
In QuotedData’s other news 7 November – 3i Infrastructure (3IN) delivered a 5.8% total return in its NAV over the half-year period to 30 September 2019. The company made a significant new investment in Ionisos (£186m) over the period and in October 3IN raised new equity worth £223m. GCP Asset Backed Income (GABI) has announced the […]
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25 Jun 2019 1 min read
QuotedData’s other news – 25 June 2019
In QuotedData’s other news – 25 June 2019 Supermarket Income REIT (SUPR) has announce a 12-month extension of the maturity date of its £100 million Revolving Credit Facility with HSBC from 30 August 2020 to 30 August 2021. SUPR says that the original terms of the facility are unchanged, and the facility contains one further […]
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29 Mar 2019 3 min read
GCP Asset Backed Income shareholders earn 9.1% return in 2018
GCP Asset Backed Income shareholders earn 9.1% return in 2018 – GCP Asset Backed Income (GABI) had a good 2018 (to December 31) with shareholders earning a total return of 9.1%. The company, which at the end of 2018 had a total loan book of £372.3m, typically lends in the £5m-20m range, an area most […]
