HONEYCOMB Investment Trust generated a 0.67 per cent net asset value (NAV) return for the third month in a row, boosting its total NAV since inception to 23.82 per cent.
The alternative finance-focused fund also reported a £13m month-on-month rise in gross investment assets to £575m in October. This growth was funded by an increase in debt drawings, Honeycomb said.
“The portfolio continues to perform well with strong risk adjusted returns and with a high allocation to loans with either downside protection or loans with significant seasoning,” Honeycomb said in its latest monthly update.
After a slight dip in performance earlier this year, the fund has returned 0.67 per cent in NAV throughout August, September and October. This has brought its total NAV return for the year to date to 7.17 per cent, up from 6.5 per cent the previous month.
Read more: Honeycomb NAV keeps improving
Honeycomb continues to invest in consumer loans and small business loans, alongside smaller interests in property loans and equity investments.
According to its most recent investor statement, Honeycomb has exposure to more than 78,000 loans with an average value of around £5,000 and an average interest rate of 11.6 per cent.