UK Mortgages Ltd - Net Asset Value(s)
PR Newswire
London, November 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 | £0.7880 | GG00BXDZMK63 | 30 September 2021 |
UKML RNS: Commentary accompanying UK Mortgages Limited September 2021 NAV
The UKML NAV per share was calculated for September 2021 month end at 78.80 pence per share, an increase of 0.86 pence per share.
The primary driver of NAV performance this month was the ongoing running income generated by the Company's investments, which contributed 0.67 pence per share to the NAV.
As highlighted in recent investor communications, this income continues to be on a positive growth trajectory albeit, with the yield curve shifting further upwards during the month, the pull to par on the Oat Hill No. 2 portfolio was higher than that in previous months, whilst the premium unwind of the Company's other investments was slightly compressed, contributing an additional 0.10 pence per share of the monthly NAV gain.
Additionally, following some fine tuning of the IFRS 9 ECL provisioning as part of the audit of the June 2021 financial statements, a further release of prior loss provisioning was applied. This contributed to a 0.05 pence per share improvement in the NAV.
Notably, regardless of the above additional contributors to NAV performance this month, plus some other small sundries, the Company's income continues to run at a rate well in excess of the 0.375 pence per share required to cover the monthly dividend equivalent.
The Company's investments continue to perform in line with expectations, and further details will be available in the Company's next factsheet.
Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Andrew Bonham 44 (0)1481 745302
Date:17 November 2021
