NAV and Monthly Update - July 2022
06/09/2022 07:00
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RNS Number : 3283Y Honeycomb Investment Trust PLC 06 September 2022
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06 September 2022
Honeycomb Investment Trust plc
Honeycomb Investment Trust plc (the "Company" or "Honeycomb") announces that
the Investment Manager's monthly factsheet for 31 July 2022 is now available
on its website at http://www.honeycombplc.com
(http://www.honeycombplc.com/documents/) .
Net Asset Value per Share
The Company announces that its unaudited Net Asset Value ("NAV") per share as
at 31 July 2022 on a cum-income basis was 1,026.4 pence, based on a NAV of
£356.5 million, and on an ex-income basis was 1,019.3 pence, based on a NAV
of £354.1 million. The NAVs have been calculated by Apex Fund Services (UK)
Ltd.
Honeycomb delivered a NAV return of 0.66% for the month, which is equivalent
to 7.7% per annum. NAV return was driven by strong risk adjusted yield of
9.1%. Net Investment Assets remained broadly stable in the month at £580m
with cash collected deployed into existing senior facilities. Performance
remains strong with minimal impairments and bad debts and underlying asset
performance remaining consistent.
The pipeline is strong at over £2bn with a number of new investment
opportunities which are uncorrelated to the macro environment including senior
financing for insurance run off and VAT financing whilst also providing strong
returns.
For further information about this announcement please contact:
Pollen Street Capital - Investment Manager
Matthew Potter / Julian Dale: +44 (0)20 3728 6750
Barclays Bank PLC - Joint Broker
Neal West / Dion Di Miceli / Chris Madderson / Stuart Muress: +44 (0) 20
7623 2323
Liberum Capital Limited - Joint Broker
Chris Clarke: +44 (0)20 3100 2000
Cenkos Securities plc - Joint Broker
Justin Zawoda-Martin: +44 (0)20 7397 8900
Link Company Matters Limited - Corporate Secretary
hitcosec@linkgroup.co.uk (mailto:hitcosec@linkgroup.co.uk)
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