The SME Loan Fund (SMEF) has been one of the bestperforming funds in its peer group in NAV terms since it was launched. It is focused on lending to small and medium-sized enterprises (SMEs), an area which in the experience of the UK investment companies market to date, has proved to be less prone to defaults than consumer lending. The board and the manager are keen to close the discount and expand the fund. They point out that investors buying today can, if they wish, exit part of their holding at NAV less 0.5% in March 2017. The board may also consider buying back stock beforehand.
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Steady progress in turbulent times
- Published:
06 Sep 2016 -
Author:
Ed Marten -
Pages:
11
The SME Loan Fund (SMEF) has been one of the bestperforming funds in its peer group in NAV terms since it was launched. It is focused on lending to small and medium-sized enterprises (SMEs), an area which in the experience of the UK investment companies market to date, has proved to be less prone to defaults than consumer lending. The board and the manager are keen to close the discount and expand the fund. They point out that investors buying today can, if they wish, exit part of their holding at NAV less 0.5% in March 2017. The board may also consider buying back stock beforehand.