RM Infrastructure Income PLC Net Asset Value(s) (7755Z)
18 Mayo 2023 - 1:00AM
UK Regulatory
TIDMRMII TIDMTTM
RNS Number : 7755Z
RM Infrastructure Income PLC
18 May 2023
RM Infrastructure Income Plc
("RMII" or the "Company")
LEI: 213800RBRIYICC2QC958
Net Asset Value
NAV Performance
The NAV % Total Return for April 2023 was +0.09%, which takes
the NAV % Total Return to +2.45% over the past six months, and
+3.98% over the past 12 months.
The NAV as at 30(th) April 2023 was 92.19 pence per Ordinary
Share, which was 0.085 pence higher than at 31(st) March 2023.
This overall gain comprised positive interest income net of expenses
of 0.253 pence per Ordinary Share and a decrease in portfolio
valuations of 0.168 pence per Ordinary Share.
Portfolio Update
As at 30(th) April 2023, the Company's invested portfolio had
an aggregate valuation of GBP122 million across 37 investments.
The average yield was 9.77%, with a weighted average loan life
remaining of circa 2 years. Overall, the portfolio is 96% invested
in private market assets and 4% in public bonds. The Investment
Manager's focus on creating a portfolio of high yielding and
short duration loans that do not hold significant exposure to
interest rate movements, ensures the portfolio remains well positioned
against any further interest rate increases by global central
banks.
The net interest income for the period was lower than the target.
This was predominantly driven by investment loan #89, a GBP5m
CBILS junior facility secured against 5 operational & performing
purpose-built student accommodation properties in the UK. During
the period, the lending group moved to a recovery process. Accordingly,
the principal outstanding was written down to its CBILS guarantee
level of 80p and the associated accrued and unpaid interest was
also written down. On an adjusted basis (i.e. excluding the write
down), the net interest income for April would have been 0.55
pence per share, in line with target. RM believes the investment
loan has now been marked appropriately based on the latest conservative
recovery analysis.
Finally, as indicated in the March 2023 Factsheet, Singer Capital
Markets and Peel Hunt, joint financial advisers and brokers to
the Company, will shortly be contacting Shareholders regarding
the potential liquidity opportunity consultation.
The Company also announces that the Monthly Report for the period
to 30 April 2023 is now available to be viewed on the Company
website:
https://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/
END
For further information, please contact:
RM Capital Markets Limited - Investment Manager
James Robson
Thomas Le Grix De La Salle
Tel: 0131 603 7060
FundRock Management Company (Guernsey) Limited - AIFM
Chris Hickling
Dave Taylor
Tel: 01481 737600
Tulchan Group - Financial PR
Elizabeth Snow
Oliver Norgate
Tel: 0207 353 4200
Sanne Fund Services (UK) Limited - Administrator and Company
Secretary
Brian Smith
Ciara McKillop
Tel: 020 3327 9720
Singer Capital Markers Advisory LLP - Financial Adviser and
Broker
James Maxwell
Asha Chotai
Tel: 020 7496 3000
Peel Hunt LLP - Financial Adviser and Broker
Luke Simpson
Liz Yong
Tel: 020 7418 8900
About RM Infrastructure Income
RM Infrastructure Income Plc ("RMII" or the "Company") is a closed-ended
investment trust established to invest in a portfolio of secured
debt instruments.
The Company aims to generate attractive and regular dividends
through loans sourced or originated by the Investment Manager
with a degree of inflation protection through index-linked returns
where appropriate. Loans in which the Company invests are predominantly
secured against assets such as real estate or plant and machinery
and/or income streams such as account receivables.
For more information, please see
https://rm-funds.co.uk/rm-infrastructure-income/
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END
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May 18, 2023 02:00 ET (06:00 GMT)
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