Net Asset Value(s)

RM Infrastructure Income PLC

18 May 2023

 

RM Infrastructure Income Plc

("RMII" or the "Company")

LEI: 213800RBRIYICC2QC958

Net Asset Value

NAV Performance The NAV % Total Return for April 2023 was +0.09%, which takes the NAV % Total Return to +2.45% over the past six months, and +3.98% over the past 12 months. The NAV as at 30th April 2023 was 92.19 pence per Ordinary Share, which was 0.085 pence higher than at 31st March 2023. This overall gain comprised positive interest income net of expenses of 0.253 pence per Ordinary Share and a decrease in portfolio valuations of 0.168 pence per Ordinary Share. Portfolio Update As at 30th April 2023, the Company's invested portfolio had an aggregate valuation of £122 million across 37 investments. The average yield was 9.77%, with a weighted average loan life remaining of circa 2 years. Overall, the portfolio is 96% invested in private market assets and 4% in public bonds. The Investment Manager's focus on creating a portfolio of high yielding and short duration loans that do not hold significant exposure to interest rate movements, ensures the portfolio remains well positioned against any further interest rate increases by global central banks. The net interest income for the period was lower than the target. This was predominantly driven by investment loan #89, a £5m CBILS junior facility secured against 5 operational & performing purpose-built student accommodation properties in the UK. During the period, the lending group moved to a recovery process. Accordingly, the principal outstanding was written down to its CBILS guarantee level of 80p and the associated accrued and unpaid interest was also written down. On an adjusted basis (i.e. excluding the write down), the net interest income for April would have been 0.55 pence per share, in line with target. RM believes the investment loan has now been marked appropriately based on the latest conservative recovery analysis. Finally, as indicated in the March 2023 Factsheet, Singer Capital Markets and Peel Hunt, joint financial advisers and brokers to the Company, will shortly be contacting Shareholders regarding the potential liquidity opportunity consultation.

The Company also announces that the Monthly Report for the period to 30 April 2023 is now available to be viewed on the Company website:

https://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/

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For further information, please contact:

RM Capital Markets Limited - Investment Manager

James Robson

Thomas Le Grix De La Salle

Tel: [phone]

FundRock Management Company (Guernsey) Limited - AIFM

Chris Hickling

Dave Taylor

Tel: [phone]

Tulchan Group - Financial PR

Elizabeth Snow

Oliver Norgate

Tel: [phone]

Sanne Fund Services (UK) Limited - Administrator and Company Secretary

Brian Smith

Ciara McKillop

Tel: [phone]

Singer Capital Markers Advisory LLP - Financial Adviser and Broker

James Maxwell

Asha Chotai

Tel: [phone]

Peel Hunt LLP - Financial Adviser and Broker

Luke Simpson

Liz Yong

Tel: [phone]

About RM Infrastructure Income

RM Infrastructure Income Plc ("RMII" or the "Company") is a closed-ended investment trust established to invest in a portfolio of secured debt instruments.

The Company aims to generate attractive and regular dividends through loans sourced or originated by the Investment Manager with a degree of inflation protection through index-linked returns where appropriate. Loans in which the Company invests are predominantly secured against assets such as real estate or plant and machinery and/or income streams such as account receivables.

For more information, please see

https://rm-funds.co.uk/rm-infrastructure-income/

 

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