P2P fund sees best 2018 month of returns

By Daniel Lanyon on Monday 3 September 2018

Editor's PickAlternative Lending

The investment trust has implemented a transition in its portfolio mix but also been hit by the collapse of one of its equity holdings in 2018 so far.

The P2P Global Investments fund saw a Net Asset Value [NAV] return of 0.52 per cent in July, its best in 2018 so far, according to regulatory filings.

Launched back in May 2014, P2P GI saw a fall in its net asset value (NAV) of 0.14 per cent in June due to the write off of its stake in Urica, an invoice finance platform, which wiped out its income gains during the month. Urica collapsed following a fraud among its clients and an unwillingness among shareholders to recapitalise the business. 

NAV per share at 31 July 2018 was 961.12p, representing a monthly NAV total return of 0.52 per cent. This is highest it has been since December 2017 when it saw a 0.55 per cent return in NAV terms.

Analysts at Liberum say based on information from June, they would expect that the transitioning of the portfolio to more attractive asset classes, reducing the exposure to the low yielding and volatile legacy assets has continued.

The shares are currently trading at -19.4 per cent discount to NAV.

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