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Share Name Share Symbol Market Type Share ISIN Share Description
Chenavari Toro Income Fund Limited LSE:TORO London Ordinary Share GG00BWBSDM98 EUR SHS NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.0025 0.45% 0.56 105,860 16:35:08
Bid Price Offer Price High Price Low Price Open Price
0.55 0.565 0.5575 0.555 0.5575
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 32.73 10.17 5.5 170
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:08 UT 8,915 0.56 EUR

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Date Time Title Posts
06/1/202120:08TORO71

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DateSubject
16/1/2021
08:20
Chenavari Toro Income Daily Update: Chenavari Toro Income Fund Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker TORO. The last closing price for Chenavari Toro Income was 0.56 €.
Chenavari Toro Income Fund Limited has a 4 week average price of 0.54 € and a 12 week average price of 0.52 €.
The 1 year high share price is 0.81 € while the 1 year low share price is currently 0.48 €.
There are currently 302,995,983 shares in issue and the average daily traded volume is 334,713 shares. The market capitalisation of Chenavari Toro Income Fund Limited is £169,677,750.48.
07/12/2020
21:42
yieldsearch: Change of key man /portfolio manager. Sounds like he is leaving but not clear. Interesting that his share are bought at a premium above existing price. Not clear if the buy out is an internal requirement, or a way to remove excess stocks in the market.
19/11/2020
19:07
ceaserxzy: Their dividend policy is no longer a fixed quarterly value but 2.5% of NAV. SO as they return the capital to shareholders the NAV will be down and the normal quarterly dividend will go down as well, from 2c to 1.8 c and even lower in future. 10% of NAV is still a handsome yield on the share price though.
27/10/2020
16:00
spectoacc: Some interest ahead of the next qrtly distribution/divi. Last one announced 27th July, so expecting it this week. Doubt we'll get another mammoth 14c/share, but still trading well below NAV & promising to pay out uninvested cash. Be interesting to see if still making monthly gains too.
02/9/2020
08:38
yieldsearch: July Factsheet out: "The NAV performance on the Chenavari Toro Income Fund was 4.06% for the month of July, driven by the payments on the TCLO retention pieces in Taurus. All TCLOs passed their interest diversion and OC tests and paid without any diversions in the waterfall. Annualised payments on the NAV for TCLO 2, 3, 4, and 5 were 37.3%, 32.4%, 31.7%, and 25.5% respectively and 30.8% on an aggregated basis. Except for supply/demand pressures in August, the chances of a rally in CLO spreads seemed to be limited, so the Portfolio Manager took the opportunity to trim further some of the Junior tranches early in the month while liquidity was stronger, and fears of further virus outbreaks were at the forefront. so i read that as good nav performance and reduction in junior risk
21/8/2020
08:32
spectoacc: An @Johnwig handle I didn't have filtered! Logged in to up-tick a SUPP post perhaps? Brilliant. 7 ticks on it so far, not a single one from someone else. Great fun. Count the divis on TORO, Walter.
21/8/2020
08:02
iq151: You don't seem to know very much about investing do you, spectoacc? For instance TORO has been a disastrous holding and ramp for you. Do you think anyone takes you seriously?
27/7/2020
19:49
rambutan2: Fact sheet: ...The NAV performance on the Chenavari Toro Income Fund was up c.2.4% for the month of June, driven by the remarking of the Public ABS strategy and payments of the Bosphorus retention pieces in Taurus. Payments on both equity CLO tranches were paid in full as Bosphorus 4 and 5 benefited from a decent cushion on the junior/reinvestment O/C test of over 3.5%. The return on NAV for Bosphorus 4 was 18.1% annualised including the management fees rebate. Although OC cushions only compressed marginally in June and are still around 3%, the erosion is expected to worsen as rating agencies take further negative actions and defaults begin to be realised. The percentage of deals failing at least one OC or Interest diversion test increased to 4.1% in June vs. 0.7% in May, and median WARF levels also increased by 43 month-on-month to 3,378. These deteriorations are in stark contrast to the improvement seen in MVOCs of tranches across the capital structure, while the dispersion in trading levels of junior tranches remains elevated. Following the recent rally and surge in CLO supply both on primary and secondary markets ahead of the summer break, the Portfolio Manager reduced the CLO exposure during the month, selling AAA CLOs and junior tranches. The market is expected to consolidate further from now while the broader market sentiment could be prone to less exuberance and more prudence in the coming months. Consequently, the cash position increased to circa 19% of NAV at the end of the month. htTps://chenavaritoroincomefund.com/assets/Uploads/34d0dec786/Chenavari-Toro-Income-Fund-Limited-Factsheet-June-2020-EXTERNAL.pdf
27/7/2020
19:48
rambutan2: Specto, that's the advantage of management having such big skin in the game: ...Although we believe that CLOs offer one of the best relative values in credit as structural protection should act as a robust mitigant against increasing credit losses, valuations have recovered significantly from their March lows. The CLO market is now expected to consolidate while the broader market sentiment could be prone to more prudence on the back of rising political risk factors and low liquidity inherent to the summer months. The exposure to CLOs was therefore tactically and selectively trimmed down, reducing the portfolio credit sensitivity and increasing the cash position with a view to increase the next total dividend distribution to circa 17% of NAV, as set out in the RNS dated 8 June 2020. All dividend decisions remain at the absolute discretion of the Board and no formal decision has been agreed relating to future dividend payments. htTps://chenavaritoroincomefund.com/assets/Uploads/b27c6ae1e7/TORO-Q2-2020-Performance-Attribution-EXTERNAL.pdf
17/5/2020
19:21
rambutan2: Latest Chenavari views: Global markets witnessed one of the sharpest price actions from late February throughout most of March when the world realised that the virus outbreak had started to spread exponentially. In the past 8 to 10 weeks, governments, central banks and regulators have been scrambling to find the right balance between saving lives and supporting businesses and these actions have reduced the systemic risk to a large extent. Although US equity markets have rebounded closer to where they started in 2020 (with S&P 500 at -9.32% YTD as of 11 May 2020) driven by positive sentiment, European credit and equity markets have not recovered with quite the same magnitude (EURO STOXX 50 down 22.66% and generic Markit iTraxx Crossover 5Y spreads still 143.72% wider YTD). Whilst there are still many unknowns surrounding growth and default expectations, our specialist investment teams believe that with the right expertise, relative value approach and sourcing capabilities, investment opportunities in European credit are attractive from a fundamental, relative value and technical perspective, and can compare favourably to their US counterparts... htTps://www.chenavari.com/assets/Uploads/8c4b643fc3/Chenavaris-European-Credit-Perspectives-May-2020-EXTERNAL.pdf
23/3/2020
06:47
spectoacc: Brilliant, thanks. TORO is one of the few I'm glad to be stuck in. "• In our view, this terrible pandemic due to the COVID-19 outbreak is undoubtedly triggering an eventdriven recession. In turn, it is likely to lead to a global cyclical recession. • This recessionary environment will expose the many weaknesses of the credit markets. • I first believe we should all be humble, given that the peak of the crisis has not been reached in either Continental Europe or the US, where the lock-down is just starting. • Current prices may exhibit some value, as the markets have corrected sharply since the beginning of March. • However, what is cheap is not necessarily good value. There are primarily two main reasons for which I urge caution:"
Chenavari Toro Income share price data is direct from the London Stock Exchange
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