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Peer2Peer Finance News | September 20, 2017

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P2PGI posts modest growth for August

P2PGI posts modest growth for August
Staff
  • On September 30, 2016

P2P GLOBAL Investments has reported modest growth for the month of August.

The investment trust, which is focused on P2P loans across the world, saw its net asset value (NAV) rise for the third month in a row, with returns of 0.43 per cent in August, up from 0.37 per cent in July and 0.17 per cent in June.

The company’s share price rose by 1.52 per cent in August, after a drop of 2.94 per cent the previous month caused by the uncertainty triggered by the Brexit vote and subsequent weakening of the pound.

However, the trust is still trading at a significant discount of more than 16 per cent. This is based more on sentiment than performance and could provide an opportunity for investors, according to recent analysis from investment bank Jefferies.

A city analyst told Peer-to-Peer Finance News that these results were largely in line with expectations, adding that the key event to watch for in the next investment report will be the P2PGI/Zopa securitisation deal.

As of 31 August 2016, P2PGI had a market capitalisation of £718m and net assets (excluding income) of £858.6m. It continued to hold more than half (57.4 per cent) of its investments in US-based consumer platforms, with an overall debt-to-equity ratio of 75 per cent.