19th May 2014 11:30
LONDON (Alliance News) - Carador Income Fund PLC Monday said its net asset value per share decreased to USD0.9397 from USD0.9466 in the three months ended March 31, while it paid USD0.0290 per share in dividends.
Carador, which invests in the senior secured loans of companies through collateralised loan obligations, said its NAV total return over the period was 2.33%, while its share price total return was 1.21%. From trading at a 0.62% premium to NAV at the start of the period, the shares went to trading at a 0.50% discount.
"We will continue to rotate out of existing positions into CLO 2.0 Income Notes which we believe will provide a more sustainable income generation. With a strong pipeline of CLO issuance, we believe the company is well positioned to take advantage of any relative value opportunities that arise," Carador said in a statement.
CLO 2.0 refers to post-credit crisis CLOs.
Carador shares were Monday quoted at USD0.919, up 0.2%.
By Samuel Agini; [email protected]; @samuelagini
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