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Peer2Peer Finance News | August 18, 2019

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Ranger Direct Lending sees growth continue in January

Ranger Direct Lending sees growth continue in January
Marc Shoffman

US-FOCUSED peer-to-peer investment trust Ranger Direct Lending has reported a twentieth consecutive month of positive returns for January as its net asset value (NAV) improved on December.

The latest monthly update from the investment trust, which focuses on platforms providing secured finance for businesses, reported 0.82 per cent growth in its NAV for January 2017, up from 0.58 per cent in December 2016.

It also took the growth rate back closer to the 0.83 per cent recorded in November 2016 after a dip at the end of the year.

The investment company has already announced an interim dividend of 28.51p per ordinary share for the three-month period to 31 December 2016 to be paid on 7 April 2017.

Read more: How P2P funds have performed so far this year

Three quarters of the fund is now invested in secured loans across 13 platforms while 25 per cent is unsecured. The majority, 87.1 per cent is based in the US, with the rest in the UK, Australia and Canada.

More recently its NAV is up 2.75 per cent year-to-date giving it a discount to NAV of 17.5 per cent. The trust’s C class has seen its NAV fall 1.53 per cent since the start of this year and is currently trading on a premium of 2.8 per cent.

Read more: Ranger Direct looks to diversify as NAV rises
Read more: VPC increases exposure to balance sheet loans