UK Mortgages Ltd Net Asset Value(s)

 
TIDMUKML 
 
UK MORTGAGES LIMITED 
 (a closed-ended investment company incorporated in Guernsey with registration 
                                 number 60440) 
 
                            EI 549300388LT7VTHCIT59 
 
Final Net Asset Value 
 
         FUND NAME                  NAV                ISIN             NAV DATE 
 
   UK Mortgages Limited           £0.7779          GG00BXDZMK63       30 June 2021 
 
UKML RNS: Commentary accompanying UK Mortgages Limited June 2021 NAV 
 
The UKML NAV per share was calculated for June 2021 month end at 77.79 pence 
per share, an increase of 1.15 pence per share. 
 
As highlighted in last month's NAV release commentary, this includes the final 
two elements from the sales of the two Coventry portfolios; the share tender 
discount realisation and the Expected Credit Loss (ECL) provision release, both 
of which made a positive contribution to the NAV. 
 
The uplift from the most recent share tender, contributed 0.20 pence per share 
to the NAV, as referred to in last month's NAV commentary. 
 
Furthermore, with the June NAV coinciding with Company's year-end, this also 
included a recalculation of the ECL provision, which occurs semi-annually under 
IFRS 9 accounting standards. This led to a 0.55 pence per share improvement in 
the NAV, driven by a combination of the existing provision for the Coventry 
portfolios being discharged following the portfolio sales plus the release of a 
portion of the previous provision, subject to final audit, following a 
recalibration of the modelled scenarios and weightings to reflect the improving 
economic conditions. 
 
The remainder of the positive monthly NAV movement came as a result of the 
running income generated by the Company's underlying investments, net of a 
minor adjustment from the semi-annual hedge effectiveness calibration. 
 
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: 20 August 2021 
 
 
 
END

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August 20, 2021 09:56 ET (13:56 GMT)

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