UK Mortgages Ltd Net Asset Value(s)

 
TIDMUKML 
 
UK MORTGAGES LIMITED 
 (a closed-ended investment company incorporated in Guernsey with registration 
                                number 60440 ) 
                           LEI 549300388LT7VTHCIT59 
 
 
Final Net Asset Value 
 
 
         FUND NAME                   NAV                 ISIN             NAV DATE 
 
UK Mortgages Limited               GBP0.7957           GG00BXDZMK63     31st March 2020 
 
 
UKML RNS: Commentary accompanying UK Mortgages Limited March 2020 NAV 
 
The UKML NAV per share was calculated for March 2020 month end at 79.57 pence 
per share. 
 
The decrease of 0.14 pence per share was primarily driven by swap rates which 
continued to fall for a further month and, as a result, so did the valuation 
level of the interest rate swaps held in the portfolios to hedge the fixed rate 
mortgages. Similar to last month, the impact on the NAV of the swap MTM is 
limited to the proportion which is deemed ineffective under IFRS 9 accounting 
standards. 
 
Furthermore, the two reductions in the Bank of England's Base Rate that 
occurred during March supressed the pull to par effect from the Oat Hill 
transaction. 
 
Meanwhile, the Fund's investments continue to perform in line with 
expectations. However, it is worth noting that the impact of mortgage payment 
holidays granted to borrowers will not begin to feed through to the fund's 
income figures until next month's NAV. 
 
More details will be available in the Fund's next factsheet to be published 
shortly. 
 
Enquiries: 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
 
Andrew Bonham              44 (0)1481 745302 
 
 
Date: 21 May 2020 
 
 
 
 
END 
 

(END) Dow Jones Newswires

May 21, 2020 07:55 ET (11:55 GMT)