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VTA Volta Finance Limited

4.90
-0.225 (-4.39%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Volta Finance Limited LSE:VTA London Ordinary Share GG00B1GHHH78 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.225 -4.39% 4.90 4.70 5.10 4.90 4.90 4.90 4,293 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 38.25M 26.97M 0.7374 6.64 179.24M
Volta Finance Limited is listed in the Finance Services sector of the London Stock Exchange with ticker VTA. The last closing price for Volta Finance was 5.13 €. Over the last year, Volta Finance shares have traded in a share price range of 4.76 € to 5.125 €.

Volta Finance currently has 36,580,581 shares in issue. The market capitalisation of Volta Finance is 179.24 € million. Volta Finance has a price to earnings ratio (PE ratio) of 6.64.

Volta Finance Share Discussion Threads

Showing 101 to 122 of 675 messages
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DateSubjectAuthorDiscuss
25/3/2016
14:34
Pretty encouraging Interim Report - both the Chairman & Investment Manager's Report sound pretty positive and underwrite the VALUE here. 10.3% yield and 20% NAV discount as at Jan'16. Should have the end Feb'16 NAV this coming week.
skyship
25/3/2016
14:34
Pretty encouraging Interim Report - both the Chairman & Investment Manager's Report sound pretty positive and underwrite the VALUE here. 10.3% yield and 20% NAV discount as at Jan'16. Should have the end Feb'16 NAV this coming week.
skyship
18/3/2016
17:11
Roughly same price as on the UK market - about 6 EUR
wolstencroft
18/3/2016
12:51
Price here looks to be on the turn - if you're a potential buyer, get them in soonest! I tried for an online top-up just now - nothing doing!
skyship
18/3/2016
12:48
Are they still trading at a discount over there/
skyship
18/3/2016
12:40
buy on the Amsterdam exchange it is much more liquid and you can bid within the spread. But you have to deal in Euros...
wolstencroft
15/3/2016
13:19
CIFU have risen 12% over the past week!
skyship
15/3/2016
12:53
Tried to buy some through Halifax and was told there was no liquidity and you could only sell! I've not come across this before
yeild hunter
04/3/2016
09:25
Ahh - OK, thnx - interesting analogy.....
skyship
03/3/2016
18:52
Based on last year's report it would seem that VTA do have a large exposure to US equity and BB/BBB CLO debt.
joan of arc
03/3/2016
15:26
RECI is totally unaffected; their's is a portfolio of individual asset backed loans - not pooled obligations.



EDIT:
Good performance from RECI last month:

skyship
03/3/2016
14:54
Reci is now mainly real estate loans..not sure if the manager is doing mark to market on this.Cifu vta and others are more in equity piece of clo, ie much more leveraged positions, more volatile and also more price visibility in the secondary market. Recp really no concern for me given the asset coverage and the fact ggat tge manager has declared that they would invest in short duration position to match the near recp maturityWell thats my view
yieldsearch
03/3/2016
13:53
Hi eeza - yes read that - that CLO problem more of a hit for CIFU & FAIR than VTA, or NBDG for that matter.

Further downside risk is already in the price here; and it should perhaps be noted that the NBDG NAV has risen over 4% over the past two weeks as the debt market has bounced off the bottom. Many commentators such as Goldman Sachs saying we've seen the worst of it - a good market for bottom-fishing.

"The view of AXA IM, is that the current stress in the US loan and other
credit markets reflects the expectation of an increase in default rates
in the US loan market from prevailing levels, which are far below the
historical average, to be closer to historical average levels by end
2016 - mid 2017. This potential turn in the credit markets seems to have
taken some participants by surprise. However, this has been AXA's
central scenario for some time. Accordingly the portfolio has been
orientated to retain a significant portion of 1.0 CLO tranches (which
have less sensitivity to episodes of stress such as that currently being
experienced), to be very selective in our exposure to CLO Equity
tranches and to increase the exposure to European assets."

skyship
03/3/2016
12:27
CLO 2 article from ZeroHedge - doesn't paint a pretty picture.
eeza
03/3/2016
11:20
hm i guess for the broker limited upside of offering this (5pounds), vs potential litigation with client re limited disclosure of risk etc..
Historical PPI issues caused the financial markets providers to tighten their offering across all financial products.
welcome to a new world of boring stuff!

yieldsearch
02/3/2016
11:58
Seems that these are not available to purchase through iweb..not sure why
yieldsearch
01/3/2016
17:28
Skyship: re post 87: I dont think there is a defined date or continuation vote for this company, my understanding is that it a permanent fund. Last time i looked i couldnt find any details in the offering memorandum.
yieldsearch
01/3/2016
17:25
"Banks cut issuance outlook on collateralised loan obligations"


I guess could also impact on the refinancing of existing positions held by CIFU, VTA

yieldsearch
26/2/2016
15:17
By the way, some here may recollect I ducked out of VTA last time I held, sold @ 7.00 in November so as to buy into LMS. It was a great trade as LMS announced another Tender in their liquidation programme.

LMS have since drifted back to a great BUY level again. They are just starting to move better ahead of the Prelims in c2weeks time.

In the meantime the NAV should have been advancing due to the $ strength. I estimate now at 100p versus the share price of 69.5p-71.2p.

I don't have to sell VTA this time around as they appear to be great value on a 21% discount and 10.4% yield. Still, I've loaded up with LMS again, ready for the next roll of the dice there...

skyship
26/2/2016
15:09
Likewise of course - thnx DB

By the way, does anyone know whether there is a wind-up date for this trust; or perhaps a Continuation Vote?

skyship
26/2/2016
14:27
Davebowler: tks for posting, always appreciated
yieldsearch
26/2/2016
11:51
Liberum;
Volta Finance (BUY)
Mark-to-market losses drive 4% NAV fall in January

Event
Volta's NAV at 31 January 2016 was €7.51 per share which represents a decline of 4.0% in the month mainly due to a mark-to-market decline in prices of CLO debt tranches.

The mark-to-market performance by asset class was CLO equity -2.4%, CLO debt -5.7%, Cash corporate credit +2.5%, synthetic corporate credit -0.2% and ABS +0.6%.

In terms of portfolio activity, Volta sold two US CLO debt tranches at an average projected yield of Libor +350bps and received the principal payment from one Euro CLO debt tranche. These proceeds were recycled into assets with significantly wider spreads (Libor +975bps on average).

Liberum view
The CLO market has experienced significant mark-to-market movement since the end of June 2015. During this time, Volta's NAV total return has been -4.8% which is ahead of peers that value on a mark-to-market basis (BGLF uses a mark-to-model approach rather than mark-to-market and has a smoother NAV return profile as a result). Volta's relative outperformance is due to the company's defensive weighting to pre-crisis CLO debt tranches.


VTA currently trades on a 22.6% discount to NAV (10.5% prospective dividend yield) which represents a 10% discount to the sector which we believe is unwarranted given the manager's track record of outperformance and ability to access attractive returns in other asset classes (e.g. bank balance sheet transactions).

davebowler
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