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 Shares Traded Last Trade
  0.00 0.0% 6.075 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
5.85 6.30 6.075 6.075 6.075
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 38.74 106.00 5.7 222
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 6.075 EUR

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16/6/202109:53Volta Finance VTA.AS518
26/3/201013:41Valterra Resource Corp. & the L-Page Group1
01/2/200411:40 Vista will Change your Life-

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Volta Finance Daily Update: Volta Finance Limited is listed in the General Financial sector of the London Stock Exchange with ticker VTA. The last closing price for Volta Finance was 6.08 €.
Volta Finance Limited has a 4 week average price of 6.05 € and a 12 week average price of 5.98 €.
The 1 year high share price is 6.10 € while the 1 year low share price is currently 4.03 €.
There are currently 36,562,038 shares in issue and the average daily traded volume is 10,500 shares. The market capitalisation of Volta Finance Limited is £222,114,380.85.
davebowler: Liberum on FAIR- Event Fair Oaks Income Fund's NAV per share at 31 May 2021 was $0.678, representing a 5.7% NAV total return in the month (+15.3% YTD). In addition to positive loan markets, NAV performance was boosted by upside from recent reset activity across the CLO equity tranches: FOLF II - the reset of FOLF II priced in May. The previous structure had relatively low leverage and a weighted average coupon of Euribor +2.41%. The coupon has reduced to Euribor +1.68% and the reinvestment period has been extended by 4.5 years. The addition of BB and B rated tranches to the structure will enable the return of €19.5m of Master Fund II's initial €47m equity investment. The overall value of the position has risen by 36% in the month. AIMCO 2017-A - the pricing of the AIMCO 2017 reset completed in March. The reset resulted in a reduction in the cost of funding of 24 bps and a five year extension to the investment period. The price of the CLO equity tranche has risen from 48 at the end of February to 81 currently. The valuation is backed up by transactional evidence. A $5.5m position in AIMCO 2017-1 traded in May, with a cover (or second highest bid) of 81. The manager has crystallised gains on a significant portion of CLO mezzanine tranches, reducing the total allocation to mezzanine tranches to 18% of the portfolio (28% in the prior month). Part of the proceeds have been reinvested in the equity tranche of Allegro XIII, a primary US CLO (target return of 15-17%). Master Fund II has committed to two other US CLO control equity investments. Liberum view We have published a note on FAIR, outlining our expectation of strong returns across the portfolio. Two factors are the key drivers of CLO equity returns – loan default rates and the arbitrage spread of the loan pool over the cost of financing. In both instances, the outlook appears very favourable. Loan default rates continue to trend downwards and compressing AAA spreads present opportunities to significantly reduce the cost of funding. FAIR is well-placed to capitalise on these conditions as a control CLO equity investor. We see this as a compelling entry point for a fund offering a 13% dividend yield and strong prospective NAV returns.
cerrito: Just gone through the April report and at the moment everything seems a bit of a yawn, which to be frank is the why I like it with VTA. I see for the second month running they did not buy any assets. Not sure why and will be interesting to see now that they have built up more cash what they do in May. Thanks Skyship for link to Hardman which I will need to read again and more thoroughly.
stemis: Peeps may remember my previous comment on not being able to deal VTA in my AJ Bell Youinvest account. I've actually had a reply from them:- Thank you for your email. This particualr stock is listed twice on the London Stock Exchange, onced priced in Euros (VTA) and once priced in GBP (VTAS). Where this happens, as both are the exact same investment, we only offer the sterling priced one to avoid our customers being charged an FX fee unecessarily. So if you’d like to trade this stock please either search for the ticker ‘VTAS’ or the sedol code ‘BFZ4H11’;.
cerrito: I cannot buy VTA on Barclays and I have to use my full service broker, Canaccord
skyship: Ahh - could be that. But why the hell are they deciding whether or not someone is professional enough to know what they are doing? Surely it is not up to AJBell; it is up to the individual concerned to state that they have the knowledge to make their own investment decisions. I'm pretty sure all of us here on this thread would qualify to buy/hold VTA.
cwa1: FWIW, I can't deal in VTA in my YouInvest SIPP account, I get this message when I go to get a quote:- This security is restricted from dealing ...I think that anyone that is already a holder can buy or sell but you can't take a new position out with them I suspect
cerrito: Thanks for that davebowler and all very reassuring and I liked the quiet confidence in the VTA update that we had today. Floating rate assets are in demand- indeed as we haver seen in the price of little old CEBB.
davebowler: Liberum on FAIR; Event Fair Oaks Income Fund's NAV per share at 31 January 2021 was $0.664, representing a 5.3% NAV total return in the month. January's NAV performance benefited from upward revaluations in certain investments with short reinvestment periods. Rising loan prices have increased the liquidation NAV for the equity tranche holders. There is further potential upside for these positions from refi/reset activity. Loan markets were broadly positive in January, with returns of 1.2% in the US and 1.0% in Europe. Loan prices have benefited from rising demand from retail inflows into US loans funds as investors seek floating rate exposure due to a steepening yield curve. 12-month trailing default rates have continued to decline and are now 3.4% in the US (previously 3.8%) and 2.1% in Europe (previously 2.6%). CLO spreads on new issues have compressed further in January. AAA US and EU new issue spreads fell to 1.15% and 0.87% at the end of January compared to 1.32% and 1.06% in the prior month. The positive environment should create opportunities for CLO equity holders to refinance or reset the CLO liabilities at more attractive levels. Master Fund II is nearing the end of its investment period. As previously indicated, FAIR will offer shareholders the opportunity to participate in a new share class that will invest in a new Master Fund, similar to the approach taken by the fund in 2017. The new Master Fund will reinvest principal receipts received from the current Master Fund in a new pool of assets, with a fixed investment period and maturity. Liberum view The tightening of CLO liability spreads is set to continue as investment demand strengthens. In combination with improving fundamentals (lower default rates, rising OC test cushions), the environment for CLO equity and mezzanine returns remains very favourable. Significant refinancing activity is expected in 2021. Equity tranches should benefit from a lower cost of capital, resulting in higher expected IRRs. Debt tranches also offer upside through repayment at par and we note several of FAIR's CLO debt tranches experienced large price increases during January. FAIR's flexible mandate leaves it well-placed to capitalise on relative value opportunities across CLO structures.
hpcg: Yieldsearch - well yes, you named some. Non-retail property debt, funds of CLOs, home mortgages, funds of consumer debt even. The fiscal response is materially beneficial to any lender, and low interest rates also as they increase the pool of new money to support prices and businesses. I am also in RECI and haven't owned UEX as I did not get timing right. Mallinkrodt bankruptcy over the weekend pushed leverage loan default rate up to just over 4% from just below, and expectations now are for that to top out at 6.6%. httPs:// VTA is 47% CLO equity, which gets impaired much before CLO debt. If we model that half the CLO equity ended up being worth nothing, and 10% of the debt*, then that would make a 35% loss of capital. Income would fall by lets say 50% as the equity will be the lions share. That would mean for a VTA holder a dividend of half as much (5% at purchase), still twice covered. The share price would of course drop in those circumstances, indeed the discount would likely widen, but that is immaterial to the long term return of the circumstances I outlined. As it is the NAV of our underlying already to an extent discounts anticipated losses. My understanding is that there is effectively no bid for impaired instruments that fall below 80% until investors in distress get interested at 60% so there are potentially step function changes, but otherwise the NAV of the collateralised unit incorporates loss expectations. Actually what the month to month NAV changes show is that overall loss expectations are actually retreating. *From what I can see in the asset list our CLO debt is quite a long way down the stack too, so perhaps 10% is optimistic if equity took such a big haircut. It is step functions all the way down.
Volta Finance share price data is direct from the London Stock Exchange
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