18th Dec 2020 18:58
SME Credit Realisation Fund Ltd - credit investment - Net asset value at September 30, 83.86 pence, down from 89.05p at March 31. Net NAV return negative 2.9% versus negative 3.3% in six months to March 31.
Chair Richard Boleat says: "The reporting period has, for the company, been one of great uncertainty, but that uncertainty is starting to be replaced with guarded optimism in markets generally. Our borrowers have in many cases experienced the greatest economic stress in a generation, and the company, through Funding Circle, has endeavoured to support them through forbearance programs and refinancings, and as such, our borrowers are largely weathering the effects on their businesses successfully, and with fortitude. When taken alongside the recent positive vaccine announcements, it is therefore reasonable to cautiously conclude that the company's wind-down program will remain on track with decreasing downside risk to NAV per share."
Current stock price: 57 pence
Year-to-date change: down 60%
By Arvind Bhunjun; [email protected]
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