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25 Oct 2019 15:16
UK Mortgages Ltd - Net Asset Value(s)UK Mortgages Ltd - Net Asset Value(s)
PR Newswire
London, October 25
UK MORTGAGES LIMITED(a closed-ended investment company incorporated in Guernsey with registration number 60440 )LEI 549300388LT7VTHCIT59
Final Net Asset Value
| FUND NAME | NAV | ISIN | NAV DATE |
| UK Mortgages Limited | £0.8089 | GG00BXDZMK63 | 31st August 2019 |
UKML RNS: Commentary accompanying UK Mortgages Limited August 2019 NAV
The UKML NAV per share was calculated for August 2019 month end at 80.89 pence per share.
The decrease of 0.33 pence was driven largely by two one-off charges. The first being the expense of un-accrued items relating to the closure of the Cornhill No.2 warehouse in line with the company’s accounting policy (following the securitisation of the majority of the loans into Barley Hill No.1, and the subsequent sale of the remaining loans into the new Cornhill No.5 warehouse). The second is the accrual of a backlog of trail fee commission payments on the fund’s two forward flow arrangements, following a period of increased issuance volumes. Going forward these payments will be accrued monthly rather than building up to a larger amount.
Without these charges, the month on month change would have been a positive movement of 0.29 pence, similar to the previous month (versus a monthly equivalent dividend requirement of 0.375), and income continues to grow each month as our forward flow portfolios grow.
More details will be available in the next factsheet to be published shortly.
Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Andrew Bonham 44 (0)1481 745302
Date: 25 October 2019
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