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Peer2Peer Finance News | August 18, 2019

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RDL Realisation reduces £5m from portfolio value in June

RDL Realisation reduces £5m from portfolio value in June
Suzie Neuwirth

RDL Realisation’s (RDL) wind-down of its portfolio carried on full steam ahead in June, with another $5.8m (£4.8m) reduced from its value.

The alternative finance-focused investment trust also drastically reduced its cash reserves in June, from $92.4m to $20.2m over the course of the month.

The London-listed fund, which announced last year that it was shutting down following shareholder pressure over poor performance, said that the total value of its portfolio was $92.5m as of 30 June.

Read more: Ranger Direct Lending: What really happened

This is down from $98.3m at the end of May and $104.8m on 30 April 2019.

This was mainly due to $3.7m in repayments of its vehicle service contract loans during June.

RDL announced last week that it received full repayment of its vehicle service contract loans in August in a $27.9m refinancing deal, which will result in a special dividend for investors.

RDL’s shares were trading 4.72 per cent higher at 551.88p as of 2.59pm GMT.