Real Estate Credit Investments (Ordinary Share) RECI

Sector Specialist: Securitised Debt

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Estimated NAV

161.00

Share Price

173.00

Total Returns on £1000 over 

Fund / Benchmark Total returns(%)
Real Estate Credit Investments (Ordinary Share) Price 143.56%
Real Estate Credit Investments (Ordinary Share) NAV 59.14%
BofAML Mortgage Master 5.86%
Total Returns on £1000

Discount / Premium Movement

Discount / Premium Movement

Shares

Share Type Yesterday's
Closing Price
Discount / Premium Diluted NAV Gearing Dividend
Est Last
Ordinary Share 175.8 9.2% 161.00 161.00
31 May
136% 6.15%
Preference Share 99.5 0.0% 0.00 0.00
0%

Discrete performance % over

Fund / BenchmarkOct '12
Sep '13
Oct '13
Sep '14
Oct '14
Sep '15
Real Estate Credit Investments (Ordinary Share) Price78.1220.0813.87
Real Estate Credit Investments (Ordinary Share) NAV28.6413.159.33
BofAML Mortgage Master-2.625.792.76

Discrete performance over

Discrete Performance

Top 10 Holdings

RMAC 2005-NSP2 10.40%
Newgate Funding 7.70%
Eurosail 2006-1 plc 6.40%
RMAC 2004-NSP4 5.40%
Sestante Finance 5.30%
Southern Pacific finance 06-A 5.10%
RMAC 2005 NS3 4.30%
RMAC 2005-NS1 3.60%
Southern Pacific Finance 05-B 3.60%
Lusitano 1 Mortgage plc 3.60%

Sectors weighting

Debt - General 94.40%
Net Current Assets 5.60%
  • Investment trust info:

  • Sector Sector Specialist: Securitised Debt
  • Launch Date 13 Dec 2005
  • Currency GBX
  • Domicile Guernsey
  • Share Price 173.00
  • Share Type Ordinary Share
  • TIDM RECI
  • ISIN GB00B0HW5366
  • Shares Issued (M) 73
  • Market Capital (£M) 127.98
  • Gross Assets (£M) 159.10
  • Net Assets (£M) 117.17
  • TER (%) 3.69
  • Historic Dividend Yield (%) 6.15
  • Last AGM 12 Aug 2015
  • Next AGM 12 Aug 2016
  • Last Annual Report Date 25 Aug 2015
  • Next due Report Date 30 Sep 2014
  • Next due Report Type I/R
  • Objective:

  • Invests primarily in debt secured by commercial or residential properties in Western Europe and the UK through securitised tranches of secured real estate related debt securities and secured real estate loans or debentures.
  • Management Group(s):

  • Cheyne Capital Management (UK) LLP
  • Managed by:

  • Chris Goekjian Start: 25 Jun 2007
  • Jonathan.H Lourie Start: 25 Jun 2007
  • Stuart.C Fiertz Start: 25 Jun 2007
  • Management Contract & Fees:

    The Management Fee payable will be at the rate of 1.25% p.a. of the Adjusted NAV. No Management Fee will be payable to the Investment Manager in respect of investments in asset portfolios already managed by the Investment Manager. The Manager will be entitled to a performance fee in relation to the adjusted performance NAV by reference to the following performance fee formula: ((Adjusted performance NAV - NAV per Core share at the beginning of the performance period increased by an annual rate of 7%) x 20%) x the time weighted average number of core shares in issue in the period since the starting date. Contract terminable on 24 months' notice.