UK Mortgages Ltd Net Asset Value
July 17 2020 - 10:43AM
UK Regulatory
TIDMUKML
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 GBP0.7942 GG00BXDZMK63 31st May 2020
UKML RNS: Commentary accompanying UK Mortgages Limited May 2020 NAV
The UKML NAV per share was calculated for May 2020 month end at 79.42 pence per
share, a decrease of 0.01 pence per share.
Income earned from the Company's underlying investments combined with the pull
to par effect from the Oat Hill No. 1 transaction generated a gain in NAV of
over 0.20 pence per share, despite the pull to par being slightly lower this
month due to the ongoing reduction in the yield curve and the full realisation
of the Bank of England base rate cuts in March. This gain was offset by
movements in the valuation level of the interest rate swaps held across the
portfolios which fell in-line with swap rates during May. As stated in previous
commentaries, the impact on the NAV of the swap MTM is limited to the
proportion which is deemed ineffective under IFRS 9 accounting standards.
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: 17 July 2020
END
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