NB Distressed Debt Investment Fund Ltd - Guernsey-incorporated closed-ended fund invests in distressed, stressed and special situations investments, with a focus on senior debt backed by hard assets and on North America and Europe - Net asset value per ordinary share falls 9.6% to USD0.8161 at June 30 from USD0.9028 at December 31, 2021.
"Public markets continue to be volatile as investors monitor multiple themes that could impact global growth. Dominant themes include tightening fiscal and monetary conditions, persistently higher inflation, supply chain disruptions, a tight labour market, and the ongoing Russian war in Ukraine. All could lead to elevated volatility over the next 12 months. Lastly, the threat of new Covid-19 variants remains. Given these circumstances, the timing and quantum of any financial impact on the portfolio remains difficult to predict," NB Distressed Debt says.
Net asset value per extended life share rises 0.5% to USD0.9287 from USD0.9243. Net asset value per new global share grows 0.6% to USD0.7883 from USD0.7835. Some 10% of firm's 119.8 million net assets are ordinary shares, 62% extended life and 27% new global.
Declares USD0.031 income distributions for extended life and USD0.025 income distribution for new global for share classes for calendar 2021. These distributions "have been funded by a recent asset disposal", NB Distressed explains.
Current new global stock price: 38.90 pence
12-month change: down 0.3%
By Tom Budszus; tombudszus@alliancenews.com
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Nb Distressed (NBDD)