skip to content

Trading statements

Funding Circle portfolio on track

04 August 2016 14:20

Funding Circle SME Income Fund's board notes recent market commentary on Funding Circle loan performance and reiterates guidance that the company's portfolio of credit assets, randomly allocated to it through each of the Funding Circle marketplaces, continues to perform in line with expectations.

The company's US credit assets are projected to return in excess of 8% per annum on a net unlevered basis - consistent with historic performance observed on the Funding Circle US marketplace.

The company's UK credit assets are projected to return in excess of 7% per annum on a net unlevered basis - consistent with historic performance observed on the Funding Circle UK marketplace.

The company is on track to deliver its dividend target of 6-7 pence per share per annum and total NAV return target of 8-9% per annum once fully deployed and levered.

The company is committed to maximising sustainable shareholder returns. The company does not charge a management or performance fee and operates with conservative leverage compared to its peers, differentiating it from multi-platform funds with higher fee loads and levels of gearing. These funds require substantially higher levels of returns from assets to deliver the same level of dividend yield as the company targets.

At 2:20pm: (LON:FCIF) Funding Circle Sme Income Fund Limited Ord Npv share price was +1.38p at 99.63p

Story provided by StockMarketWire.com

Related Company: FCIF

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

aew-banner-180x255.jpg

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.