27th Aug 2015 13:47
LONDON (Alliance News) - Carador Income Fund PLC, which invests in senior notes of collateralised loan obligations, said it is well placed after an uncertain first half for markets.
Carador Income Fund 's portfolio is collateralised by senior secured bank loans and equity and mezzanine tranches of CLOs.
It generated a total net asset value return of 4.58% in the six months to June 30 including distributions. It started the year with a NAV per US dollar share of USD0.0.8993 and ended the first half at USD0.8891, a 1.13% decline. It paid USD0.0500 per share in dividends over the period.
The company said the first half was markef by uncertainty, namely due to questions about Greece's Eurozone membership, the possibility of a Puerto Rican default, and the direction of the Chinese equity market.
"The board believes that the company's portfolio was well positioned in the first half of 2015 to take advantage of investment opportunities," the company said.
At the end of June, the company's portfolio was split as follows: mezzanine notes 32.73%, income notes 65.67%, and cash balance including other assets and liabilities 1.60%.
"The board believes that this portfolio allocation will continue to deliver attractive total returns as well as high current income via quarterly dividend distributions," the company said.
By Samuel Agini; [email protected]; @samuelagini
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