22nd Apr 2020 13:22
(Alliance News) - Closed-ended investment trust RM Secured Direct Lending PLC on Wednesday reported a rise in net assets during 2019.
Net asset value at December 31 was 25% higher year-on-year at GBP119.5 million from GBP95.7 million. NAV per share edged 0.9% higher to 97.79 pence from 96.96p.
NAV total return was 8.2% in 2019, compared with 5.5% in 2018.
Shares in the debt instruments investor were 4.1% higher at 77.00p each in London on Wednesday afternoon.
RM Secured edged its payout 8.1% higher to 7.025p from 6.500p. Separately on Wednesday, it declared an interim dividend of 1.625p per share for the first quarter of 2020.
"While the recent performance by the wider debt investment companies peer group may have dented investor sentiment, we remain confident in our investment manager's ability to deliver against our strategy. It is our view that the company offers investors access to stable, long term, above average returns which has been demonstrated by the first three years of trading," the company said.
By Eric Cunha; [email protected]
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