The investment trust has implemented a transition in its portfolio mix but also been hit by the collapse of one of its equity holdings in 2018 so far.
The P2P Global Investments fund saw a Net Asset Value [NAV] return of 0.52 per cent in July, its best in 2018 so far, according to regulatory filings.
Launched back in May 2014, P2P GI saw a fall in its net asset value (NAV) of 0.14 per cent in June due to the write off of its stake in Urica, an invoice finance platform, which wiped out its income gains during the month. Urica collapsed following a fraud among its clients and an unwillingness among shareholders to recapitalise the business.
NAV per share at 31 July 2018 was 961.12p, representing a monthly NAV total return of 0.52 per cent. This is highest it has been since December 2017 when it saw a 0.55 per cent return in NAV terms.
Analysts at Liberum say based on information from June, they would expect that the transitioning of the portfolio to more attractive asset classes, reducing the exposure to the low yielding and volatile legacy assets has continued.
The shares are currently trading at -19.4 per cent discount to NAV.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.