P2P GLOBAL Investments saw an improvement in its monthly net asset value (NAV) in October and said it is making “strong progress” in transitioning its portfolio.
The alternative finance-focused fund reported a monthly NAV return of 0.52 per cent, up from 0.44 per cent in September.
As Peer2Peer Finance News reported last month, P2PGI has seen its returns pushed down by its poor-performing legacy investments in recent months.
This included now-defunct supply chain platform Urica.
P2PGI is transitioning its portfolio towards specialist lending assets, and completed two new structured facilities in the third quarter with new partners.
In its October update, P2PGI said that 77 per cent of the portfolio is now in continuing assets as of the end of October, with the run-off portfolio reduced to 23 per cent.
“Risk adjusted returns on the continuing portfolio remain in line with our expectation to meet the target dividend,” P2PGI said.