Barings Participation Investors (NYSE:MPV)
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6 Months : From Feb 2017 to Aug 2017
The Board of Trustees of Barings Participation Investors (the "Trust") met on April 21, 2017. The Trust also conducted its 2017 Annual Meeting of Shareholders.
The Trust’s Trustees determined that the Trust’s March 31, 2017 net asset value ("NAV") is $141,119,693.36 or $13.56 per share based on 10,404,497 shares outstanding. The Trust's March 31, 2016 NAV was $138,443,220 or $13.39 per share based on 10,342,412 shares outstanding. The Trust reported a NAV of $137,568,919 or $13.35 per share as of December 31, 2016, based on 10,301,085 shares outstanding. All figures other than December 31, 2016 figures are unaudited.
The Trust’s net investment income for the quarter ended March 31, 2017 was $2,977,417 or $0.29 per share, of which approximately $405,470 or $0.04 per share represented income due to nonrecurring items, compared to $2,253,036 or $0.22 per share for the quarter ended March 31, 2016. For the previous year ended December 31, 2016, net investment income was $10,671,491 or $1.04 per share.
The Trust declared a quarterly dividend of 27 cents per share payable on May 12, 2017 to shareholders of record on April 28, 2017. The Trust had previously paid a 27 cent-per-share dividend for the preceding quarter. The Board of Trustees also approved the continuance of the Trust’s current Investment Advisory and Administrative Services Contract with Barings LLC.
During the quarter ended March 31, 2017 net capital gains of $333,072 or $0.03 per share were realized by the Trust, compared to net capital losses of $369,989 or $0.04 per share for the quarter ended March 31, 2016. For the previous quarter ended December 31, 2016, net capital losses were $1,148,672 or $0.11 per share.
At the Annual Meeting, shareholders elected Michael H. Brown, Barbara M. Ginader and Maleyne M. Syracuse as Trustees for three-year terms.
The market price of Barings Participation Investors as of March 31, 2017 was $14.20, which equates to a 3.98% discount to the March 31, 2017 NAV per share. The Trust’s average quarter-end premium for the 3, 5 and 10-year periods was 0.93%, 6.89% and 7.06%, respectively.
Barings Participation Investors is a closed-end management investment company advised by Barings LLC. Its shares are traded on the New York Stock Exchange under the trading symbol ("MPV").
Per share amounts are rounded to the nearest cent.
Cautionary Notice: Certain statements contained in this press release may be "forward looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management’s current estimates, projections, expectations or beliefs, and which are subject to risks and uncertainties that may cause actual results to differ materially. These statements are subject to change at any time based upon economic, market or other conditions and may not be relied upon as investment advice or an indication of the fund's trading intent. References to specific securities are not recommendations of such securities, and may not be representative of the fund's current or future investments. We undertake no obligation to publicly update forward looking statements, whether as a result of new information, future events, or otherwise.
About Barings LLCBarings is a $280+ billion* global asset management firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. A member of the MassMutual Financial Group, Barings maintains a strong global presence with over 1,700 employees and 600 investment professionals across 41 offices in 17 countries. Learn more at www.barings.com.
*As of March 31, 2017
Brian Whelan, Head of Corporate Communications, 980.417.7700, email@example.com