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Peer2Peer Finance News | September 23, 2019

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VPC Specialty Lending posts record quarterly returns

VPC Specialty Lending posts record quarterly returns
Marc Shoffman

VPC Specialty Lending (VSL) has recorded its strongest quarterly return since its inception in March 2015.

The alternative finance-focused investment trust produced a total net asset value (NAV) return of 3.37 per cent, boosted by its exposure to balance sheet loans.

The fund’s 25 balance sheet investments returned 14.77 per cent over the quarter while its equity investments returned 0.77 per cent.

Read more: VPC posts record returns from balance sheet investments

Read more: VPC’s portfolio sales drag on performance

“The second quarter for the company was, in our view, the strongest since inception on multiple fronts,” VSL said in a quarterly update.

“The company delivered the strongest NAV return since inception and we believe the portfolio and its outlook are very positive for the remainder of the year.

“While the macro situation continues to perform strongly across our markets, we will continue to remain focused on identifying, monitoring and mitigating credit risk across the portfolio.”

The investment trust also revealed a NAV total return of 1.38 per cent in June, up from 1.03 per cent in May.

This was helped by a 1.12 per cent return on balance sheet loans, and 0.01 per cent from marketplace loans.

VPC Specialty Lending is currently trading on a discount to NAV of 10.5 per cent.

Read more: VPC breaks NAV record for second month running