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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Gcp Asset Backed Income Fund Limited | GABI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.40 | -0.59% | 67.60 | 16:35:09 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 68.00 | 67.40 | 68.00 | 67.60 | 68.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 08/02/2024 | Interim | GBP | 0.015813 | 15/02/2024 | 16/02/2024 | 15/03/2024 |
| 08/11/2023 | Interim | GBP | 0.015813 | 16/11/2023 | 17/11/2023 | 15/12/2023 |
| 20/07/2023 | Interim | GBP | 0.015813 | 27/07/2023 | 28/07/2023 | 25/08/2023 |
| 03/05/2023 | Interim | GBP | 0.015813 | 11/05/2023 | 12/05/2023 | 12/06/2023 |
| 26/01/2023 | Interim | GBP | 0.015813 | 02/02/2023 | 03/02/2023 | 03/03/2023 |
| 02/11/2022 | Interim | GBP | 0.015813 | 10/11/2022 | 11/11/2022 | 09/12/2022 |
| 22/07/2022 | Interim | GBP | 0.015813 | 04/08/2022 | 05/08/2022 | 02/09/2022 |
| 29/04/2022 | Interim | GBP | 0.015813 | 12/05/2022 | 13/05/2022 | 14/06/2022 |
| 27/01/2022 | Interim | GBP | 0.01575 | 03/02/2022 | 04/02/2022 | 04/03/2022 |
| 03/11/2021 | Interim | GBP | 0.01575 | 11/11/2021 | 12/11/2021 | 10/12/2021 |
| 22/07/2021 | Interim | GBP | 0.01575 | 29/07/2021 | 30/07/2021 | 27/08/2021 |
| 29/04/2021 | Interim | GBP | 0.01575 | 13/05/2021 | 14/05/2021 | 14/06/2021 |
| 26/01/2021 | Interim | GBP | 0.01575 | 04/02/2021 | 05/02/2021 | 05/03/2021 |
| 26/11/2020 | Special | GBP | 0.0025 | 03/12/2020 | 04/12/2020 | 29/12/2020 |
| 19/10/2020 | Interim | GBP | 0.0155 | 29/10/2020 | 30/10/2020 | 27/11/2020 |
| 23/07/2020 | Interim | GBP | 0.0155 | 30/07/2020 | 31/07/2020 | 28/08/2020 |
| 29/04/2020 | Interim | GBP | 0.0155 | 07/05/2020 | 11/05/2020 | 09/06/2020 |
| 11/06/2019 | Interim | GBP | 0.0155 | 30/01/2020 | 31/01/2020 | 28/02/2020 |
| 23/10/2019 | Special | GBP | 0.0025 | 31/10/2019 | 01/11/2019 | 29/11/2019 |
| 11/06/2019 | Interim | GBP | 0.0155 | 31/10/2019 | 01/11/2019 | 29/11/2019 |
| 11/06/2019 | Interim | GBP | 0.0155 | 01/08/2019 | 02/08/2019 | 02/09/2019 |
| 24/04/2019 | Interim | GBP | 0.0155 | 02/05/2019 | 03/05/2019 | 04/06/2019 |
| Top Posts |
|---|
Posted at 08/4/2024 18:41 by hpcg Talk of winding up GABI as being at the bottom of the market is nonsense. It's a short term debt fund, it is always being wound up so to speak. Now I would be happy for it to continue, but the discount says there isn't demand for it to do so, so I'll also happily collect the discount along with the income. |
Posted at 08/4/2024 16:22 by spectoacc Citywire sometimes have some decent commentary, usually where they've spoken to a co and had a steer/inside line.In general, there's a reason they're online journalists rather than successful traders/investors :) The number of basic errors they make is large. GABI, of course, may yet fall to a bid. |
Posted at 08/4/2024 16:13 by speedsgh James Carthew: Good funds like GABI shouldn’t wind up at a market low - Don't quite understand the following statement. AFAICS the NAV has been shrinking since mid-2021. "With all of this going on, it has been easy to forget that GABI was still growing net asset value each year and was still a decent size at more than £400m." NAV £396.7m as at 31/12/23 £397.4m as at 30/9/23 £399.9m as at 30/6/23 £407.0m as at 31/3/23 £412.0m as at 31/12/22 £423.0m as at 30/9/22 £433.0m as at 30/6/22 £437.0m as at 31/3/22 £436.7m as at 31/12/21 £435.2m as at 30/9/21 £451.7m as at 30/6/21 NAV per share 93.21p as at 31/12/23 93.36p as at 30/9/23 93.96p as at 30/6/23 95.13p as at 31/3/23 94.90p as at 31/12/22 96.18p as at 30/9/22 98.45p as at 30/6/22 99.36p as at 31/3/22 99.29p as at 31/12/21 98.94p as at 30/9/21 102.71p as at 30/6/21 102.18p as at 31/12/20 100.83p as at 30/6/20 102.33p as at 31/12/19 102.31p as at 30/6/19 101.74p as at 31/12/18 101.53p as at 30/6/18 100.85p as at 31/12/17 100.22p as at 30/6/17 100.01p as at 31/12/16 99.47p as at 30/6/16 98.38p as at 31/12/15 |
Posted at 14/3/2024 13:43 by skinnypope Well, this update is slightly more positive than I had expected. Although there is nothing that moves the NAV at all, the return profile has changed slightly for the better.1. The cash handout is something I had tentatively thought about being done more gradually during the wind down procedure. This early and larger than expected return [12.9p per share] skews the IRR a bit higher. 2. Loan repayment being downstreamed to shareholders promptly. I assume the increase in cash from £30m at year end to £55m now is mostly from the £18m loan redemption announced on 1st Feb. So we can have full confidence in further capital returns given we know the maturity profile of the loans. I see ~£125m of loans left to runoff this year - that's another 29p of capital coming our way in short order. This was my base case, but now it's confirmed. 3. Dividend is maintained. I expected (hoped?) this would be the case - there is still plenty of interest accruing and being paid on loans to cover the dividend this year, although this does dip slightly into 2025 and 2026. Keeping my other assumptions constant [no new credit provisions above current, and 25% discount on 2029+ loan sale] gives a new IRR of 18% [up from 17% a month ago] |
Posted at 04/3/2024 11:19 by speedsgh Outcome of strategic review to be announced next week...Strategic Review Update - On 29 January 2024, the Company announced that the board of GABI (the "Board") would be seeking shareholder feedback to inform its decision-making process in connection with the strategic review to consider how it may best deliver value to shareholders (the "Strategic Review"). The Board has today completed the shareholder consultation period in connection with the Strategic Review. Feedback has been provided to the Board by shareholders representing a majority of total voting rights in the Company. Views were canvassed on the future strategic direction of the Company, including in relation to: (i) a potential continuation of the Company in accordance with its current investment policy delivered by the Investment Manager, Gravis Capital Management Ltd; (ii) a suitable time horizon for the return of capital in a potential orderly wind-down of the Company; and (iii) acceptable pricing on a potential sale of the Company. Shareholders have expressed a broad range of views throughout the consultation period. The Board is in the process of collating and reviewing the shareholder feedback and will announce the outcome of the Strategic Review in the week commencing 11 March 2024. The Board also expects to announce an update in relation to succession planning in respect of Board composition at that time. The Board continues to consider a sale of the entire issued share capital of the Company as an option for the Company's future. Alex Ohlsson, Chairman of GABI, commented: "The Board is grateful to shareholders for their engagement in providing feedback in connection with the strategic review. This feedback will inform the Board's decision-making process for the future of the Company." |
Posted at 08/2/2024 16:35 by neilyb675 The Board of GCP Asset Backed, which invests in asset backed loans, is pleased to announce a quarterly dividend in respect of the period from 1 October 2023 to 31 December 2023 of 1.58125 pence per ordinary share (the "Q4 Dividend").The ordinary shares will go ex-dividend on 15 February 2024 and will be paid on 15 March 2024 to holders of ordinary shares recorded on the register as at close of business on 16 February 2024. |
Posted at 01/2/2024 13:28 by cc2014 What I want to know is this:GABI now has £50m in cash and no RCF. It's planning a £7m buyback and and the dividend will cost them £7m, leaving £36m floating around doing nothing. Surely they could use some of the £36m to fund a special dividend? |
Posted at 29/1/2024 16:34 by loglorry1 I'm assuming (perhaps wishful thinking) that they'll aggressively buy back stock when loans are repaid over the next 12-18 months and that should juice the IRR a bit. GABI a bit different from DGI9 in nature but DGI9 starting to look a better bet than GABI but more risky. |
Posted at 18/12/2023 11:17 by cc2014 Hpcg. Money for sure is leaving the market to pay for mortgages or maintaining lifestyles or being put into 5%+ 5 year bonds etc but I would have thought that most of the sellers will be unsophisticated and own world trackers, US magnificent 5, or some other large tracker or ETF, not from a stock like GABI which most people have never heard of.However, whilst I was digging through ADIG this morning I've discovered ADIG have sold 3.1m shares in GABI sometime between Feb and November this year. They have none left now. Whilst I see the actions of Aberdeen and thus the trade flow, I struggle with the why? They've been selling GABI at a discount to NAV to presumably buy private markets. I don't get it. It's not even an issue with Gravis as they've been adding to their holding in GCP. Perhaps that's all the insight I need though. Do ADIG and some other funds really know what they are doing? |
Posted at 13/12/2023 10:38 by cc2014 Logic has no part in the market.The latest NAV is £397m. I cannot understand why the major shareholders seem to want to wind GABI up on the basis that it's not large enough or not liquid enough. On that basis you might as well wind up 75% of the Investment Trusts in the UK and the whole of AIM as well. (oh and hand over the whole of the financial markets to the US and close UK plc while you are at it) Indeed at 60p, GABI was ranked 448th in the FTSE. Hardly too small. So, the plan to resolve things seems obvious to me. 1. Pay off the RCF which will be done in the next 3 months. I expect the NAV will still be around £400m as both £30m of assets and £30m of liabilities will be gone. 2. Start buying back shares and keep doing so until the discount to NAV reaches 20% 3. When it gets to 20% see how big the NAV is and make a decision then about GABI's future. |
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