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AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for May. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com).
PERFORMANCE and PORTFOLIO ACTIVITY
Volta has continued to perform well in May with +0.4%, reaching a total return of 8.9% for the first five months of 2021.
This time around, the performance was driven almost evenly by the good performance from CLO equity, CLO debt tranches, and Bank Balance sheet transactions. This month, the USD depreciation cost 0.7% of the monthly performance.
The monthly asset class performances were: +1.4% for Bank Balance Sheet transactions, +1.6% for CLO equity tranches; +1.2% for CLO debt; -2.6% for Cash Corporate Credit and ABS (together representing 3.1% of GAV).
Volta Finance Limited - Net Asset Value as at 31 May 2021
PERFORMANCE and PORTFOLIO ACTIVITY
Volta has continued to perform well in May with +0.4%, reaching a total return of 8.9% for the first five months of 2021.
This time around, the performance was driven almost evenly by the good performance from CLO equity, CLO debt tranches, and Bank Balance sheet transactions. This month, the USD depreciation cost 0.7% of the monthly performance.
The monthly asset class performances were: +1.4% for Bank Balance Sheet transactions, +1.6% for CLO equity tranches; +1.2% for CLO debt; -2.6% for Cash Corporate Credit and ABS (together representing 3.1% of GAV).
In terms of fundamentals, trailing-12-month default rates continued to decline in May, reaching post-Covid new lows with 1.7% default rate both for US loans and European loans. We were expecting default rates to converge between the US (where the impact of the Covid was more important) and Europe thanks to a faster economic
Proactive weekly mining round-up: Ferro-Alloy Resources, Nord Gold, Rio Tinto .
A snapshot of some of the week s stories from the mining sector
Ferro-Alloy Resources Ltd (LON:FAR) shares were boosted as it banked investment from Vision Blue Resources, named its next chairman and provided an update on its Balausa vanadium concentrate project in Kazakhstan.
Vision Blue has made a US$1.6mln investment in the company, taking its total investment US$3.1mln.
Sir Mick Davis has been appointed as chairman, due to start after June 3. The company noted that Davis was formerly head of Xstrata Alloys, one of the world’s largest vanadium producers.