(Alliance News) - Alcentra European Floating Rate Income Fund Ltd said Thursday its net asset value dropped in sterling terms over its recently ended financial year.
The trust posted net asset value per share as at March 31 at 103.61 pence, down from 104.55p the same date the year before. However, in euros the net asset value edged upwards to EUR1.1997 from EUR1.1905 the prior year.
Alcentra's share price stood at 97.01 pence at the end of the year, reflecting a 6.4% discount to net asset value.
Shares in Alcentra European Floating Rate Fund closed 0.2% lower on the day Thursday at 98.42 pence, having improved further since the year-end.
Alcentra declared a total dividend of 4.46 pence per share, up from 4.26p the year before.
"The board closely monitors political factors affecting markets in the current environment, including the consequences of the Brexit vote. Whilst the impact of Brexit remains unknown, loan markets have historically been far less volatile than bond or equity markets. Moreover, your board remains confident in the company's portfolio comprised of well-selected, robust credits which have a global exposure," said Chair Ian Fitzgerald.