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Hardman & Co Research Hardman & Co Research: Debt Investment Companies - Diving deep finds you the treasure 25-Feb-2019 / 09:00 GMT/BST *Hardman & Co Research: Debt Investment Companies -* *Diving deep finds you the treasure* We believe that to properly understand debt investment companies, they need to be analysed as lenders first, and investment companies second. To understand their specific credit, business model, accounting and growth characteristics requires detailed expertise in lending. This report employs the analyst's experience of researching debt vehicles and lending businesses for more than 30 years to tease out the investment-critical characteristics. The debt investors category has grown exponentially in recent years. The Association of Investment Company classification of this sub-sector encompasses 38 'investments' with a further 5 in its leasing sector. We believe that the time has now come to recognise that a broad-brush categorisation is no longer appropriate, and this large diverse sector should be split into more focussed constituents. The companies are facing fundamentally different risk profiles and have a range of accounting policies, making NAV comparisons fraught with danger. They also report their NAVs at diverse intervals, further complicating comparisons across the sector. Please click here for the full report: https://www.hardmanandco.com/debt-investment-companies/ [1] +-------------------------+----------------+-------------------+ |*To contact us:* |*Contact:* | | | | |mt@hardmanandco.com| |Hardman & Co |Mark Thomas | | |35 New Broad Street | | | |London |+44 20 7194 7622| | |EC2M 1NH | | | |www.hardmanandco.com | | | |*Follow us on Twitter* | | | |@HardmanandCo | | | +-------------------------+----------------+-------------------+ *Hardman & Co Research can still be accessed for free after MiFID II. Please *click here [2] *to read the statement.* *About Hardman & Co:* For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case. Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. End of Announcement - EQS News Service 780413 25-Feb-2019 1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=d23179d0031342956b1c23c3db2d93d4&application_id=780413&site_id=vwd&application_name=news 2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=5a632f52f80bd372265e4041a743aa1c&application_id=780413&site_id=vwd&application_name=news
(END) Dow Jones Newswires
February 25, 2019 04:00 ET (09:00 GMT)
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