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Peer2Peer Finance News | March 28, 2017

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Honeycomb maintains slow and steady growth

Honeycomb maintains slow and steady growth
Staff
  • On October 3, 2016

HONEYCOMB Investment Trust, the London-listed fund that invests in consumer loans, posted a broadly flat month-on-month net asset value (NAV) return of 0.69 per cent for August.

The company, which is managed by Pollen Street Capital, is not strictly a peer-to-peer focused fund as it does not originate its loans but has an agreement with online direct lender Honeycomb Finance.

Unlike some of its P2P-focused peers, Honeycomb Investment Trust has seen slow and steady share price growth over the past year and is trading at a minimal discount. Its share price closed 0.1 per cent higher at £10.01 on Friday, a 1.9 per cent increase from the start of the year.

Honeycomb targets more than 10 per cent in annual returns, and eight per cent in quarterly dividends. The company, which has counted Invesco Perpetual as a backer, awarded shareholders with a dividend of 19.66p per share this month, or approximately two per cent.

As of 31 August, Honeycomb Investment Trust held just over £150m in net assets (excluding income).