CQS New City High Yield Fund Limited (NCYF)

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FTSE Small Cap

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60.90p
   
  • Change Today:
      0.20p
  • 52 Week High: 62.80
  • 52 Week Low: 55.80
  • Currency: UK Pounds
  • Shares Issued: 419.05m
  • Volume: 234,442
  • Market Cap: £255.20m
  • RiskGrade: 60

CQS grows net asset value on the back of 'more sanguine' markets

By Iain Gilbert

Date: Friday 06 Oct 2017

LONDON (ShareCast) - (ShareCast News) - Closed-end investment company CQS New City High Yield Fund Limited said on Friday that it had grown its net asset value (NAV) 16.13% in the year ended 30 June 2017 as markets gradually became "more sanguine" towards concerns that had muted its investment returns in the previous year.
CQS, which predominately invested in fixed income securities, increased its net asset value per share to 58.77p from the 54.68p a year earlier as share price premium to NAV rose from 3.5% to 6.8% with a total share price return of 18.4% in its 2017 financial year.

The Jersey-based firm said it had an effective gearing of 8% as it raised £5.3m through share issues over the twelve months, as well as an additional £4.3m lining its coffers since year-end.

Full year dividends were 4.39p, a slight uptick from the 4.36p it paid out a year earlier.

Looking forward, CQS chairman James West said, "The prospect of further gradual rate rises in the United States and a Eurozone economy strong enough to promise a decline in Quantitative Easing underpin a benign environment which your Company is well positioned to take advantage of as opportunities arise."

"When I wrote to you last year, I reflected on a period of muted investment returns occasioned primarily by fears as to the robustness of the Chinese economy set alongside Eurozone and Brexit concerns. The last year has seen the markets more sanguine as to these issues, while they have responded positively to the election of President Trump and investment returns have accordingly been much stronger," West added in the group's note to investors.

The company also announced that John Newlands had joined its board as a non-executive director.

Newlands, who had more than twenty years' experience in the City had spent the last ten years of at Brewin Dolphin as the group's head of investment companies.

"I am delighted to welcome John to the Board. The depth of his experience and expertise in the investment trust sector is universally recognised, and I look forward to all that he will bring to the board's deliberations as the Company looks to build upon the success of recent years," said West.

As of 1200 BST, shares had moved ahead 0.41% to 61.75p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

NCYF Market Data

Currency UK Pounds
Share Price 60.90p
Change Today 0.20p
% Change 0.33 %
52 Week High 62.80
52 Week Low 55.80
Volume 234,442
Shares Issued 419.05m
Market Cap £255.20m
RiskGrade 60

NCYF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
65.96% above the market average65.96% above the market average65.96% above the market average65.96% above the market average65.96% above the market average
66.07% above the sector average66.07% above the sector average66.07% above the sector average66.07% above the sector average66.07% above the sector average
Price Trend
13.88% above the market average13.88% above the market average13.88% above the market average13.88% above the market average13.88% above the market average
3.19% below the sector average3.19% below the sector average3.19% below the sector average3.19% below the sector average3.19% below the sector average
Income
27.13% above the market average27.13% above the market average27.13% above the market average27.13% above the market average27.13% above the market average
80.77% above the sector average80.77% above the sector average80.77% above the sector average80.77% above the sector average80.77% above the sector average
Growth
62.65% below the market average62.65% below the market average62.65% below the market average62.65% below the market average62.65% below the market average
46.47% below the sector average46.47% below the sector average46.47% below the sector average46.47% below the sector average46.47% below the sector average

NCYF Dividends

  Latest Previous
  4th Interim 3rd Interim
Ex-Div 25-Jul-19 25-Apr-19
Paid 30-Aug-19 31-May-19
Amount 1.45p 1.00p

Trades for 19-Jul-2019

Time Volume / Share Price
16:29 147 @ 60.20p
16:29 1,323 @ 61.00p
16:29 7,500 @ 61.00p
16:19 5,146 @ 60.20p
16:04 10,500 @ 60.54p

NCYF Key Personnel

Chair Caroline Hitch

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