UK Mortgages Ltd - Net Asset Value(s)
PR Newswire
London, July 28
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 | £0.7664 | GG00BXDZMK63 | 31 May 2021 |
UKML RNS: Commentary accompanying UK Mortgages Limited May 2021 NAV
The UKML NAV per share was calculated for May 2021 month end at 76.64 pence per share, a decrease of 3.02 pence per share.
As previously highlighted, the most significant driver of NAV movement this month is the realisation of the sale of the Malt Hill No. 2 portfolio - particularly the unwind cost associated with the termination of the swaps, which when combined with the legal costs make the impact slightly larger than initially expected and indicated in the previous announcements.
In addition, as a consequence of the portfolio sale, this month saw a drop in interest income, although this has been partially offset by the increase in income received from the ongoing growth in the Cornhill No. 7 portfolio, which moreover subsequently saw near record completion volumes in June, albeit the revenue from these loans will only begin to flow through from July or August.
The next NAV to be released for June will see the positive impact of the share tender at a discount to the NAV, with the impact of this component expected to be in the region of 0.20 pence per share.
The Company's remaining 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: 28 July 2021
