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LONDON (Alliance News) - VPC Speciality Lending Investments PLC said Friday its net asset value fell in 2017, despite a swing to a positive total return during the year.
The investment company's net asset value per share as at December 31 stood at 91.68 pence, down from 95.26p on the same date a year before.
Total shareholder return swung to 7.3% from a negative return of 9.8% in 2016, and revenue return increased to 8.2% from 6.0%.
VPC Specialty upped its dividend for the year to 6.8p, from 6.0p the prior year.
"Overall, 2017 was an encouraging year for the company, during which it invested in new transactions and expanded the existing portfolio. Although the total return was not satisfactory, we feel that we have a strong portfolio that will drive higher returns in 2018," VPC said in a statement.
"The marketplace loans and securitisations have proved to perform poorly, but we are proud to have successfully transitioned out of the majority of the portfolio's marketplace loan facilities and into what we believe, are more superior balance sheet investments. As it stands today, the company has the strongest credit portfolio since inception and we look forward to improved performance throughout 2018 and beyond," VPC added.
Shares in VPC Specialty were untraded on Friday, last traded at 78.00 pence