NAV Performance

The NAV % Total Return for January 2024 was 1.13%, which takes the NAV % Total Return to 2.69% over the past six months, and 5.32% over the past 12 months.

The NAV as at 31^st January 2024 was 91.37 pence per Ordinary Share, which was 1.02 pence higher than at 31^st December 2023. This overall gain comprised positive interest income of 0.40 pence per Ordinary Share, net of expenses, and an increase in portfolio valuations of 0.625 pence per Ordinary Share.

Portfolio Activity

As at 31^st January 2024, the Company's invested portfolio had an aggregate valuation of £99.9 million across 30 investments. The average yield was 10.83%, with a weighted average loan life remaining of circa 1.63 years¹⁰. Overall, the portfolio is 95% invested in private market assets and 5% in public bonds.

During the reporting period, investment loan ref 71 was fully repaid at par, or circa £1.7m.

At period end, the Company has no drawings under its term loan facility or revolving credit facility. Current cash balance stands at circa £10m of which circa £6m will be retained by the Company largely to fund undrawn committed facilities.