EJF Investments Ltd - Jersey-incorporated closed-ended investor in assets benefiting from regulatory and structural change in the financial services sector - Reports net asset value of GBP100.6 million as at December 31, down 12% from GBP114.5 million a year prior, while NAV per share stood at 164 pence, down 13% from 189p. Says these decreases were partly driven by "losses incurred from pre-emptively removing currency hedging contracts and reductions in the valuations of certain investments when the pandemic took hold." Declares 2.675p per share dividend for the fourth quarter of 2020, unchanged from the equivalent period in 2019. Continues to meet its target dividend for the year of 10.7p, also unchanged from 2019.
"With Covid-19 still causing substantial volatility in many markets with the long term impact on the global economy expected to be substantial, the directors and the manager continue to closely monitor the situation to ensure liquidity is preserved and underlying assets remain robust. However, the directors also believe the company is well positioned to be able to participate in further opportunities as they arise and continues to represent an attractive risk adjusted return," says EJF Investments.
Current stock price: 127.00p
Year-to-date change: down 6.0%
By Zoe Wickens; zoewickens@alliancenews.com
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Ejf Investments (EJFI)