28th Feb 2019 14:43
LONDON (Alliance News) - CVC Credit Partners European Opportunities Ltd said the net asset value of its sterling and euro shares fell in 2018.
As at December 31, the closed-ended investment company's net asset value per sterling share was GBP1.0762, falling 3.8% from GBP1.1190 the year before.
On that same date, its net asset value per euro share was EUR1.0404, a 4.8% decline from EUR1.0933.
Its euro shares had a net asset value total return for the year, net of fees and reinvested dividends, of 0.1%, compared to an 8.8% return in 2017. The investor's sterling shares had a net asset value total return of 1.0% versus 9.7% in 2017.
For comparison, the Credit Suisse Western European High Yield Index hedged to euro was down 3.9% for 2018, while the Credit Suisse European Leveraged Loan Index hedged to euro was up 0.6%.
At the end of January, CVC Credit Partners European Opportunities declared a dividend of GBP0.01375 per sterling share and EUR0.01375 per euro share. Its total dividend paid per euro share for 2018 was EUR0.0550, compared to EUR0.0525 per share in 2017.
Per sterling share, CVC Credit Partners European Opportunities paid GBP0.0550 per share versus GBP0.0525 per share in 2017.
"We anticipate that the ultimate shape of the UK's future trade, and indeed political, relationship with the EU will likely offer opportunities for some issuers, as well as risk to others, and it may be that opportunities will arise to take advantage of these asymmetrical effects within the future underlying portfolio construction. In short, therefore, we do not presently see a significant risk to the company or its net asset value as a result of either the Brexit process itself or the ultimate form that it takes," said Chair Richard Boleat.
Sterling shares in CVC Credit Partners European Opportunities were down 0.9% at 105.00 pence per share while its euro shares were flat at EUR1.05.
Related Shares:
CCPG.LCCPE.L