Ranger Direct Lending looks to diversify as net asset value rises

RANGER Direct Lending, the US-focused peer-to-peer investment fund, today said it has seen both its monthly net asset value and dividend increase over the first half of the year.

The London-listed trust, which floated last May, posted net profit of $9.94m (£7.5m) over the period.

The fund, which invests primarily in small businesses, real estate and consumer loans via 11 platforms, is looking to diversify its portfolio. It said it is in final talks with two additional platforms through which investments are expected to happen in the third quarter of this year.

Unlike its London-listed peers, Ranger Direct Lending has remained largely unscathed from post-Brexit uncertainty.

“With 95 per cent of the group’s portfolio denominated in currencies other than sterling, and with the group’s functional currency being the United States dollar, Brexit is unlikely to have a significant impact on the group’s performance,” said the company.

“It should also be noted that the company has entered into derivative contracts starting this period to manage the exposure to foreign currency on existing assets.”