20th Sep 2018 17:05
LONDON (Alliance News) - CVC Credit Partners European Opportunities Ltd on Thursday reported its net asset value per sterling share and euro share increased in the first half.
CVC Credit Partners NAV per sterling share increased to GBP1.127 at the end of the period ended June from GBP1.119 at the end of the previous half.
The closed-ended investment company's NAV per euro share increased to EUR1.096 from EUR1.093 at the end of 2017.
The return rate for the sterling class was 3.3% and 2.8% for euro shares, both outperforming the Credit Suisse Western European High Yield Index was down 1.4% year to date.
CVC Credit Partners' portfolio in the period was boosted by its Credit Opportunities segment, which is 49% of the company's portfolio, delivering a gross 7% return - which represents a 3.5% gross portfolio performance contribution.
The company's Core Income segment, 42% of its portfolio, delivered a 0.3% gross return to the performance of the portfolio.
Looking ahead, the investment company believes the UK government's "continuing inability" to bring Brexit negotiations to a "satisfactory close" could lead to "economic disruption".
CVC also warned of US President Donald Trump's "ongoing attempts" to "structurally change" the US's terms of trade with the international community.
Shares in CVC Credit Partners were down 0.9% Thursday at EUR1.11 each.
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