IN BRIEF: GCP Infrastructure Investments posts stable net asset value
GCP Infrastructure Investments Ltd - advised by Gravis Capital Management Ltd, the closed-ended investment company aiming to pay dividends and preserve capital from exposure to UK infrastructure debt and similar assets - Reports a net asset value of 100.26 pence per share at March 31, stable with 100.27p at December 31. First-quarter power price forecasts (net of hedging) added 0.57p, while updated OBR inflation forecasts detracted 0.23p from the NAV. Actual generation net of discount rate unwind and project specific updates detracted 0.61p, while share buybacks added 0.26p. Notes that it had GBP27 million outstanding under its revolving credit facility at March 31, up from GBP24 million at the end of last year. Adds that its portfolio "continues to perform materially in line" with its expectations. Read More