Fund Management
What's New In Investments, Funds? - CVC
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The latest offerings in investments, such as funds and structured products, and other notable developments.
CVC
CVC Credit Partners European Opportunities has increased its
dividend target and cut the management fee.
The closed-end entity is boosting its dividend to five pence per
sterling share/five cents per euro share for the next 12 months.
The revised policy reflects a yield of about 5 per cent based on
the current prices of both the company’s sterling and euro
shares.
The management fee has been cut to an annual rate of 0.9 per cent
of net asset value.
The changed distribution policy reflects the company’s “strong
performance and growth opportunity present across European
corporate credit,” CVC said.
CCPEOL is focused on protecting capital and tries to generate
high cash income via a stable and attractive dividend, as well as
offering the potential for capital appreciation. The investment
company is listed on the London Stock Exchange.
“We continue to see significant opportunity across the spectrum
of European corporate credit and our flexible investment strategy
allows us to rotate the portfolio to capture the most attractive
risk-adjusted returns. During Q1, this has enabled us to deploy
over €70 million ($84.6 million) in opportunistic credit
investments, which should continue to generate both income and
capital upside in the near and medium term,” Pieter Staelens,
portfolio manager at CVC Credit Partners Investment Management
Limited, Investment Vehicle Manager, said.