UK Mortgages Ltd - Net Asset Value
PR Newswire
London, July 17
UK MORTGAGES LIMITED
(a closed-ended investment company incorporated in Guernsey with registration number 60440)
LEI 549300388LT7VTHCIT59
Final Net Asset Value
| FUND NAME | NAV | ISIN | NAV DATE |
| UK Mortgages Limited | £0.7942 | GG00BXDZMK63 | 31st May 2020 |
UKML RNS: Commentary accompanying UK Mortgages Limited May 2020 NAV
The UKML NAV per share was calculated for May 2020 month end at 79.42 pence per share, a decrease of 0.01 pence per share.
Income earned from the Company's underlying investments combined with the pull to par effect from the Oat Hill No. 1 transaction generated a gain in NAV of over 0.20 pence per share, despite the pull to par being slightly lower this month due to the ongoing reduction in the yield curve and the full realisation of the Bank of England base rate cuts in March. This gain was offset by movements in the valuation level of the interest rate swaps held across the portfolios which fell in-line with swap rates during May. As stated in previous commentaries, the impact on the NAV of the swap MTM is limited to the proportion which is deemed ineffective under IFRS 9 accounting standards.
Meanwhile, the Company's investments continue to perform in line with expectations.
More details will be available in the Company's next factsheet to be published shortly.
Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Andrew Bonham 44 (0)1481 745302
Date:17 July 2020
