REG - EJF Investments Ltd EJF Investments-EJFZ - Net Asset Value and Portfolio Update

EJF InvestmentsAnnouncement

20/07/2023 07:00

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RNS Number : 5769G  EJF Investments Ltd  20 July 2023

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
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20 July 2023

EJF Investments Ltd

Net Asset Value and Portfolio Update

As at the close of business on 30 June 2023 the unaudited net asset value per
share ("NAV per Share") of EJF Investments Ltd ("EJFI" or the "Company") is as
set out below:

 NAV per share                           Monthly performance

                                         (inclusive of dividends)
 162 pence                               (6.72)%

 (US Equivalent amount being $2.06)(1)

(1) Based on the GBP/USD spot exchange rate of 1.2696 as at 30 June 2023.

Numbers in the table are rounded.

The underlying portfolio performance was primarily driven by a negative
performance of 5.45% from Securitisations & Related Investments. This
comprised unrealised mark-to-market losses on Collateralized Debt Obligation
(CDO) Equity Tranches of 6.05%, which was partially offset by a gain of 0.60%
from regular interest accruals.

The Manager highlights that there have been no defaults or deferrals further
to the Company's limited look-through exposure to Silvergate Capital
Corporation ("Silvergate") as outlined on 29 March 2023, where the Manager
currently anticipates a meaningful recovery in due course in relation to the
Silvergate position.   The Manager also notes there have been no reported
recent stresses or failures in the broader US banking system and considers the
banking environment to be stable.

Overall, the Manager believes that the unrealised mark-to-market losses in
June relate to a catchup of broader market sentiment and a recommencement of
limited trading activity post the banking market stress seen earlier in the
year. They accordingly reflect a lag between market events and illiquid asset
prices and are expected to be of a temporary nature.

The detailed portfolio update and monthly performance commentary can be viewed
in the monthly factsheet available at
https://www.ejfi.com/investors/?category=monthly-reports&year=#filter
(https://www.ejfi.com/investors/?category=monthly-reports&year=#filter) .

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

( )

ENQUIRIES

 

For the Investment Manager

EJF Investments Manager LLC

Peter Stage / Jay Ghatalia

pstage@ejfcap.com / jghatalia@ejfcap.com

+44 203 752 6775 / +44 203 752 6776

 

For the Company Secretary and Administrator

BNP Paribas S.A., Jersey Branch

jersey.bp2s.ejf.cosec@bnpparibas.com

+44 1534 709 198/ +44 1534 813 967

 

For the Broker

Liberum Capital Limited

Darren Vickers / Owen Matthews

+44 203 100 2222

 

Barclays Bank PLC

Dion Di Miceli / Stuart Muress / James Atkinson

BarclaysInvestmentCompanies@barclays.com

+44 207 623 2323

 

About EJF Investments Ltd

EJFI's objective is to provide shareholders with attractive risk adjusted
returns through regular dividends and capital growth over the long term. EJFI
generates exposure primarily to a diversified portfolio of loans issued by
financial institutions and related or similar assets in the U.S., U.K. and
Europe.

EJFI currently invests primarily in Equity Tranches of CDOs structured by an
affiliate of EJF Capital LLC, providing levered exposure to a highly
diversified portfolio of securities issued by U.S. financial institutions
(banks and insurance companies), these being Risk Retention Investments.

EJFI is a registered closed-ended limited liability company incorporated in
Jersey under the Companies (Jersey) Law 1991, as amended, on 20 October 2016
with registered number 122353. The Company is regulated by the Jersey
Financial Services Commission (the "JFSC"). The JFSC is protected by both the
Collective Investment Funds (Jersey) Law 1988 and the Financial Services
(Jersey) Law 1998, as amended, against liability arising from the discharge of
its functions under such laws.

The JFSC has not reviewed or approved this announcement.

LEI:  549300XZYEQCLA1ZAT25

Investor information & warnings

The latest available information on the Company can be accessed via its
website at www.ejfi.com (http://www.ejfi.com) .

This communication has been issued by, and is the sole responsibility of, the
Company and is for information purposes only. It is not, and is not intended
to be an invitation, inducement, offer or solicitation to deal in the shares
of the Company. The price and value of shares in the Company and the income
from them may go down as well as up and investors may not get back the full
amount invested on disposal of shares in the Company. An investment in the
Company should be considered only as part of a balanced portfolio of which it
should not form a disproportionate part. Prospective investors are advised to
seek expert legal, financial, tax and other professional advice before making
any investment decision.

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