The Connaught Income Fund, Series 2, publishes Quarter 5 report

By Bridging Loan Directory -

 

Connaught Asset Management (Guernsey) Limited, investment manager of The Connaught Income Fund, Series 2 has published their latest investment advisor’s quarterly report on the Channel Islands Stock Exchange.

Key Figures

Investment Inflow for the Quarter to 31 December 2011

£1,854,312
(includes reinvested income and commission from 30/09/2011, but excludes reinvested amounts from 31/12/2011)

Redemptions of investment holdings in the Quarter to 31 December 2011
£207,793

Gross fund value at 31 December 2011
£ 18,134,988

Loans made in the quarter to 31 December 2011

Number: 20 (this is a combination of new and development loans)
Value: £2,422,115

Loans redeemed in the quarter to 31 December 2011

Number: 8
Value £2,126,330

Loan book at 31 December 2011

Number: 42
Value : £15,716,247

Liquidity at 31 December 2011

£2,418,741 (Liquidity has been purposely kept at this level towards the end of the quarter in order to cater for an investor redemption effective January 2012 which has been planned for 12 months)

Loans in default at 31 December 2011

1 (one loan has surpassed its redemption date without redeeming. LPA Receivers have been appointed and are marketing the property in auctions during January and February along with more conventional sales approaches through local estate agents. The loan is for £77k against a market value of £110k, giving a 70% LTV).

Loan book average LTV 63.39%

Loan book average term 9 months

The full report can be downloaded here: Connaught Income Fund Series 2, Investment Advisor’s Quarterly Report