14th Aug 2015 06:52
LONDON (Alliance News) - NB Global Floating Rate Income Fund Ltd Friday said its net asset value per share rose in the first half of 2015.
The Guernsey incorporated, closed-ended investment company invests mainly in floating rate senior unsecured loans issued in dollars, sterling and euros.
The FTSE 250 company said as at end-June the company was 94.67% invested in US denominated assets, with 3.03% invested in euro denominated assets and 2.30% in sterling denominated assets.
During the half year its net asset value per share rose by 0.91% for its US dollar ordinary shares and by 1.07% for its sterling ordinary shares.
Net asset value per share attributable to US dollar shareholding was USD0.9954 as at end-June, up from USD0.9862 at the end of 2014. Attributable to sterling shareholding, net asset value per share was GBP0.9875 at end-June, up from GBP0.9770 at the end of 2014.
Total return for dollar shares was 2.81% in the recent half year, compared to 1.23% in all of 2014. Total return for sterling shares was 2.97% in the half, versus 1.16% for all of 2014.
The US loan market gained 2.83% in the half year. After a strong first quarter, the second quarter was more restrained, hit by Chinese market volatility and uncertainty surrounding Greece.
Looking towards its second half the company said it continues to be satisfied with its portfolio's performance to date.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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