Channel Islands Property Fund - Channel Islanders working from the office

Channel Islands Property Fund (CIPF) recorded a 5% y-o-y increase in rental income in H123 (to end March 2023) as the fund continues to see 100% rent collection and reduced its vacancy rate to just 2.3%. The manager remains confident in CIPF's income generation, as the portfolio is characterised by long lease terms (the weighted average unexpired lease term, or WAULT, is over 11 years), and 75% of CIPF's debt is hedged against interest rate rises until 2027 to its expiry. The fund continues to distribute stable quarterly dividends, implying a 6.9% prospective dividend yield based on the current share price.

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