UK Mortgages Ltd - Net Asset Value(s)
PR Newswire
London, April 29
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 | £0.8007 | GG00BXDZMK63 | 28 February 2021 |
UKML RNS: Commentary accompanying UK Mortgages Limited February 2021 NAV
The UKML NAV per share was calculated for February 2021 month end at 80.07 pence per share, a decrease of 0.27 pence per share.
As communicated in the commentary accompanying the January NAV, the sale of the Cornhill No. 6 portfolio was completed on 25th February, albeit the loss provisioning for the sale price of the assets versus the amortised cost valuation was previously included in the NAV published for January in line with the Company's accounting policy. As also previously stated, the unwinding of the interest rate swap attached to the Cornhill No. 6 transaction was not due to be recognised until the current period and this is the key driver for the negative impact on the February NAV equating to approximately 0.65 pence per share. This was partially offset by the regular monthly income generated by the Company's investments.
The net proceeds from this portfolio sale were subsequently returned to shareholders by way of a tender at 75 pence per share on 24th March. This is expected to add approximately 0.61 pence per share net of costs, which will be reflected in the March NAV.
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:29 April 2021
