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Alcentra European Floating Rate portfolio update

11 August 2015 08:07

Alcentra European Floating Rate Income Fund says there were a number of strong performing assets in the portfolio in July.

It says the two highest were SSK Perstorp (+3.8%) and Altice Financing (+3.7%), both released strong recent earnings announcements.

There were no new credit concerns in the portfolio.

An update adds: "It was encouraging to see a small increase in the dividend for the quarter at 1.37p, versus 1.26p previously. Although there is no imminent likelihood of a Q3 UK interest rate rise, the 12 month LIBOR rate is at 1.08% and the dividend should stand to benefit as and when rates do start to rise."

At 8:07am: (LON:AEFS) Alcentra European Floating Rate Income Fund Red share price was -0.5p at 104.5p

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