Business
NAV and Monthly Update - July 2022
NAV and Monthly Update - July 2022.
About this update from Pollen Street Group Limited
[{"type":"text","content":"\n \n \n NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL\n \n \n 06 September 2022\n \n \n \n Honeycomb Investment Trust plc\n \n \n \n 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\n \n \n http://www.honeycombplc.com\n \n \n .\n \n \n \n Net Asset Value per Share\n \n \n \n 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.\n \n 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.\n 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.\n \n For further information about this announcement please contact:\n \n \n \n Pollen Street Capital - Investment Manager\n \n \n \n Matthew Potter / Julian Dale: +44 (0)20 3728 6750\n \n \n Barclays Bank PLC - Joint Broker\n \n \n Neal West / Dion Di Miceli / Chris Madderson / Stuart Muress: +44 (0) 20 7623 2323\n \n \n \n Liberum Capital Limited - Joint Broker\n \n \n \n Chris Clarke: +44 (0)20 3100 2000 \n \n \n \n Cenkos Securities plc - Joint Broker\n \n \n \n Justin Zawoda-Martin: +44 (0)20 7397 8900\n \n \n \n Link Company Matters Limited - Corporate Secretary\n \n \n \n \n \n [email protected]\n \n \n \n \n ","length":3868,"tagName":"div"}]