At the height of the market turmoil in March, CQS New City High Yield (NCYF) saw its share price fall faster and further than its NAV (to 27p), before rapidly recovering. The market has been concerned about the ability of the issuers of the bonds held by NCYF to meet their obligations in the face of the covid19 pandemic. However, with one small exception, all of NCYF holdings have met their obligations in full (no missed interest payments and no failures to repay loans when they fall due).
30 Jun 2020
Sitting pretty
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Sitting pretty
CQS New City High Yield Fund Ltd GBP (NCYF:LON) | 52.8 0.2 0.8% | Mkt Cap: 283.7m
- Published:
30 Jun 2020 -
Author:
Ed Marten -
Pages:
16
At the height of the market turmoil in March, CQS New City High Yield (NCYF) saw its share price fall faster and further than its NAV (to 27p), before rapidly recovering. The market has been concerned about the ability of the issuers of the bonds held by NCYF to meet their obligations in the face of the covid19 pandemic. However, with one small exception, all of NCYF holdings have met their obligations in full (no missed interest payments and no failures to repay loans when they fall due).