Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_152562296
August 3 2020

Honeycomb returns rise despite Covid crisis

Kathryn Gaw Industry News, News, Top 3 Honeycomb, Honeycomb Investment Trust

Honeycomb Investment Trust boosted its net asset value (NAV) return to 9.1 per cent on an annualised basis in June, as the portfolio recovered from a temporary coronavirus-related lag.

This is equivalent to a NAV return of 0.75 per cent for the month, up from 0.42 per cent the previous month.

Honeycomb’s investment managers said that June’s returns would have been higher if it weren’t for a number of one-off expenses such as the repurchase of 735,000 of the company’s own shares as part of its “active discount management program”. The trust also incurred the final costs associated with the extension of a debt facility in June.

Read more: Honeycomb sees positive impact from emergency loan schemes

“The portfolio has remained stable throughout the Covid crisis, with the underlying return increasing from April and May as many customers are ending their forbearance plans and returning to full payments across all sectors,” said the trust’s managers in their monthly statement.

“The reduced underlying return was largely as a result of reduced investment assets as the Trust has continued to use cash generation to reduce the outstanding debt and to execute value accretive buybacks where possible.”

Read more: Honeycomb buzzing about ‘diverse’ investor base

Honeycomb invests in consumer, property and small business loans. In March, the trust paused all new investments and the monthly NAV dropped to 0.25 per cent, in a reflection of the forbearance measures which were being offered to many borrowers. However, throughout April and May many customers ended their forbearance plans and returned to full payments across all sectors.

The total value of the portfolio’s investment assets reached a peak of £595m in February. By the end of June, investment assets were valued at £550.9m.

Read more: Honeycomb portfolio “robust” despite forbearance requests 

Revisiting wind-down plans is essential during Covid-19 Proplend apologises for delays in loan realisations and hints at new deal flow

Related Posts

CLOSED Out of business shop sign vector illustration

Industry News, News, Top 3, Uncategorized

SME lender warns many companies will not survive

London, UK - Downing street offices, entrance gate

Industry News, News, Top 3

Government responds to P2P fraud query

Neil Faulkner, 4thWay

Features, Top 3

The risk hunter: 4th Way’s Neil Faulkner

Popular posts:

  • MP queries level of fraud in P2P lending
  • Aave launches higher risk, higher return option for…
  • Some firms set to pay more than maximum CBILS interest rate
  • Growth Street to return 100pc of investor funds
  • A year in the life of the 36H Group
  • Investors urged to look at ISA options ahead of…
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by