Alternative finance-focused investment trust RDL Realisation has increased its cash holdings from $8.7m (£7m) at the end of February, to $12.6m by the end of March, as the trust’s managers continue to wind down the portfolio.
This means that almost one third of RDL’s total portfolio has now been converted into cash, bringing the platform closer to its goal of realising the entirety of the portfolio.
Shareholders can expect to receive a new dividend of £1.06 per share by 19 May 2020, in line with the manager’s pledge to run-off all portfolio holdings and return this cash to its investors.
The trust’s cash position was increased following a sale of assets in a real estate loans platform, an international business lending platform, and an equipment loans platform.
Approximately $2.7m was collected on the real estate loans platform, and approximately $1.4m was collected on the international business lending platform as a result of ongoing restructuring and negotiations. This included a recovery of a previously charged off amount of approximately $500,000.
These adjustments have taken the portfolio’s overall value to $42.1m, up from $41.9m the previous month.
Since the portfolio was updated on 31 March, RDL has agreed a final settlement distribution of almost $13.5m from Princeton Alternative Income.
Princeton entered a bankruptcy agreement in mid-March, while RDL’s settlement was announced in early April.
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