UK MORTGAGES LIMITED
(a closed-ended investment company incorporated in Guernsey with registration number 60440 )
Final Net Asset Value
|FUND NAME||NAV||ISIN||NAV DATE|
|UK Mortgages Limited||£0.8214||GG00BXDZMK63||31st January 2019|
UKML RNS: Commentary accompanying UK Mortgages Limited January 2019 NAV
The UKML NAV per share was calculated for January 2019 month end at 82.14 pence per share.
The 1.52 pence reduction in the NAV was driven mostly by the dividend payment of 1.5 pence per share. Movements in the fair values of the swaps held in the underlying portfolios, of which the fund is exposed to the portion deemed to be ineffective under IFRS 9 accounting standards, typically due to the timing of the adoption of IFRS 9 versus the inception of the swaps, had the effect of further reducing the NAV, although this was offset by the income generated by those investments.
The fund’s investments continue to perform exceptionally well, in line with expectations and more details will be available in the fund’s next factsheet to be published shortly.
Northern Trust International Fund Administration Services (Guernsey) Limited
Andrew Bonham 44 (0)1481 745302
Date: 14 March 2019