Honeycomb fund returns stay strong in May as loan book expands

By Daniel Lanyon on 25th June 2019

Alternative Credit

The fund has been ramping up its SME lending book recently but has also added to property and consumer loans too.

Honeycomb fund returns stay strong in May as loan book expands
Image source: Photo by Timothy Paule II from Pexels

The £610m Honeycomb investment trust, which invests in a range of alternative lending assets, saw a 0.64 per cent uplift in its Net Asset Value (NAV) in the month of May.

This brings its total NAV return for the year to date to 3.11 per cent, after adjusting for IFRS 9 accounting rules. In the whole of 2018 the fund delivered a total NAV return of 8.43 per cent after adjusting for IFRS 9 and 28.43 per cent since its launch at the end of 2015. 

The fund has grown considerably in the past year with assets rising from £442m last year to £610m with its debt to equity ratio nearly having doubled to 47 per cent from is 25.2 per cent in June 2018.

“The pipeline remains strong and the Investment Manager remains highly selective in the opportunities it pursues Investment assets remain broadly stable at £610m (£606m as at 30th April 2018,” Honeycomb’s investment manager Pollen Street Capital said in a stock market update.

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