4th Sep 2025 11:40
(Alliance News) - Sherborne Investors (Guernsey) C Ltd on Thursday reported a fall in net asset value in the first half of 2025, as it flagged plans to return capital to shareholders with a further dividend following its full-year results.
The Guernsey-based investment firm said NAV at June 30 was GBP405.9 million, or 58.0 pence per share, down from 61.5p at December 31 and 65.0p a year earlier. As at August 31, NAV was unchanged at 58.0p.
Sherborne Investors co-invests in US student loan servicer Navient Corp alongside other funds managed by Sherborne Investors Management LP. The funds together hold around 30% of Navient, where Sherborne partner Edward Bramson was appointed chair in June.
Bramson has overseen the first stage of Navient's turnaround, which included outsourcing loan servicing, divesting a non-core division, and cutting overhead costs by 40%. A second phase is due to be unveiled later this year, focusing on further cost cuts and growth in Navient's Earnest business.
During the half, Navient paid USD0.32 per share in dividends, with Sherborne Investors receiving its proportionate share. Sherborne paid a 0.1p per share dividend in May and said it intends to pay another 0.1p following its 2025 full-year results.
Sherborne has also begun share buybacks after securing approval at its AGM in May. By the end of August, it had repurchased 3 million shares at an average 42p each, about a 25% discount to prevailing NAV, spending GBP1.25 million. It expects to allocate GBP10 million to GBP15 million to repurchases during 2025.
Chair Talmai Morgan also noted the appointment of James Christie as non-executive director following the death of former board member Ian Brindle earlier this year.
Shares in Sherborne Investors (Guernsey) C were quoted at 44.00 pence in London on Thursday morning.
By Eva Castanedo, Alliance News reporter
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