Business
Portfolio Update
Portfolio Update.
About this update from Burford Capital Limited
[{"type":"text","content":"\n RNS Number : 0471Q Burford Capital 28 July 2010 \n \n\n \n28 July 2010\n \n \n \nBurford Capital Announces Initial Investment Successes\nAnd Further Investments\n \nPerformance of Short Duration Portfolio Validates Portfolio Approach and Investment Thesis\nBurford Capital Limited (\"Burford\" or the \"Company\"), the commercial dispute investor, today is pleased to report on its further progress since the Company's previous trading update on 27 April 2010.\nInvestment Highlights\nInvestment highlights for the most recent period1 include:\n· $6 million in cash realisations received from investments\n· A substantial jury verdict that, if upheld and collected, would entitle Burford to approximately $44 million in further realisations. It should be noted that disclosure of uncollected contractual entitlements does not equate with expected cash collections; please refer to the footnote below.2\n· $24 million in four new investment commitments , for a new total of $64 million in total commitments and investments to date\nPortfolio Report\nAs previously noted, Burford believes that investing in commercial disputes must be conducted, and evaluated, on a portfolio basis instead of focusing on the performance or results of individual cases. Thus, Burford will continue to provide portfolio-level information, and welcomes investor feedback on its reporting.\nBurford has closed a further four investments since its last update with total new capital commitments of approximately $24 million. Burford has thus made total commitments since inception of approximately $64 million across 14 individual investments in a wide range of investment sizes. Thus, in the nine months since its IPO, Burford has committed approximately half of its investable capital. The investment structures and economic terms of the new investments are consistent with Burford's prior guidance to investors.\nIncluding new investments and accounting for realisations, Burford's portfolio composition is now as follows:\n\n\n\n\n\n\n\nNumber of investments\n\n\nTotal capital commitments\n\n\n\n\nShort duration portfolio\n\n\n3\n\n\n$5 million\n\n\n\n\nCore portfolio\n\n\n8\n\n\n$49 million\n\n\n\n\nSpecial situations portfolio\n\n\n1\n...