Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

M&G CREDIT INCOME INVESTMENT TRUST PLC

(MGCI)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/25 11:35:10 am
98.7 GBX   -0.10%
10/08Holdings in Company
DJ
10/04Total Voting Rights
DJ
10/01M&G CREDIT INCOME INVESTMENT TRUST PLC : Director Declaration
DJ
SummaryQuotesChartsNewsCompanyFinancialsConsensus 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

M&G Credit Income Investment Trust plc: 2021 -4-

09/16/2021 | 10:44am EDT

Note: ELF is an open-ended fund managed by M&G which invests in leveraged loans issued by, generally, substantial private companies located in the UK and Continental Europe. ELF is not rated and the Investment Manager has determined an implied rating for this investment, utilising rating methodologies typically attributable to collateralised loan obligations. On this basis, 78% of the Company's investment in ELF has been ascribed as being investment grade, and 22% has been ascribed as being sub-investment grade. These percentages have been utilised on a consistent basis for the purposes of determination of the Company's adherence to its obligation to hold no more than 30% of its assets in below investment grade securities.

Top 20 holdings % 
                        Company Description 
as at 30 June 2021 
                        Open-ended fund managed by M&G that invests in leveraged loans issued by, generally, 
M&G European Loan Fund  substantial private companies located in the UK and Continental Europe. The fund's objective is 
                        to create attractive levels of current income for investors while maintaining relatively low 
12.16%                  volatility of NAV. (Private) 
 
Sonovate Limited Var. 
Rate 12 Apr 2022        Bilateral loan to a company providing companies in the recruitment industry with an integrated 
                        service that incorporates placement management, invoicing and financing. (Private) 
1.80% 
 
 
Atlas 2020 1 Trust Var. Floating-rate, senior tranche of a bilateral RMBS transaction backed by a pool of Australian 
Rate 30 Sep 2050        equity release mortgages. (Private) 
1.65% 
Westbourne 2016 1 WR 
Senior Var. Rate 30 Sep Westbourne provides working capital finance to SMEs in the UK. The company is focused on small 
2023                    borrowers and has employed an advanced technology platform for the application, underwriting 
                        and monitoring of loans. (Private) 
1.59% 
 
 
Delamare Finance FRN 
1.279% 19/02/2029       Floating-rate, senior tranche of a CMBS secured by the sale and leaseback of 33 Tesco 
                        superstores and 2 distribution centres. (Public) 
1.59% 
 
 
Finance for Residential High grade (AA/Aa3), fixed-rate bond backed by cash flows from housing association loans. 
Social Housing 8.569% 4 (Public) 
Oct 2058 
 
1.54% 
Hall & Woodhouse Var. 
Rate 30 Dec 2023        Bilateral loan to a regional UK brewer that manages a portfolio of 219 freehold and leasehold 
                        pubs. (Private) 
1.53% 
 
 
Signet Excipients Var.  Fixed-rate loan secured against two large commercial premises in London, currently leased to 2 
Rate 20 Oct 2025        FTSE listed UK corporations.  (Private) 
1.42% 
NewDay Partnership 
Funding 2017-1 FRN      High grade ABS (AAA). UK Creditcard. Securitisation of a portfolio of designated consumer 
0.8053% 15 Dec 2027     credit card, store card and instalment credit accounts initially originated or acquired by 
                        NewDay Ltd in the UK. (Public) 
1.39% 
 
 
Regenter Myatt Field    PFI (Private Finance Initiative) floating-rate, amortising term loan relating to the already 
North Var. Rate 31 Mar  completed refurbishment and ongoing maintenance of residential dwellings and communal 
2036                    infrastructure in the London borough of Lambeth. (Private) 
1.35% 
Hammond Var. Rate 28    Secured, bilateral real estate development loan backed by a combined portfolio of 2 office 
Oct 2025                assets leased to an underlying roster of global corporate tenants. (Private) 
1.32% 
Project Driver TL Var.  Senior term loan to a provider of hire purchase financing on used domestic motor vehicles to 
Rate                    consumers in the UK. (Private) 
1.32% 
RIN II FRN 1.778% 10 
Sep 2030                Mixed CLO (AAA). Consists primarily of senior secured infrastructure finance loans managed by 
                        RREEF America L.L.C. (Public) 
1.26% 
 
 
Dragon Finance FRN      Floating-rate, subordinated tranche of a securitisation of the sale and leaseback of 10 
1.3665% 13 Jul 2023     supermarket sites sponsored by J Sainsbury plc ('Sainsbury's').  (Public) 
1.14% 
Finance for Residential 
Social Housing 8.369% 4 
Oct 2058                High grade (AA), fixed rate bond backed by cash flows from housing association loans.  (Public) 
1.12% 
Lewisham Var. Rate 12   Senior secured, fixed-rate term loan funding the costs of acquiring and developing a site in 
Feb 2023                Lewisham to provide 758-bed purpose-built student accommodation and 67 affordable housing 
                        units.  (Private) 
1.10% 
NewRiver REIT 3.5% 7 
Mar 2028                NewRiver REIT PLC operates as a real estate investment trust investing in retail properties 
                        throughout the United Kingdom. Fixed, callable bond. Senior unsecured. (Public) 
1.09% 
 
 
Marston's Issuer FRN    Marston's PLC is a leading independent brewing and pub retailing business. Marston's Issuer PLC 
1.7083% 15 Oct 2031     operates as a special purpose entity on behalf of Marstons PLC, formed for the purpose of 
                        issuing debt securities to repay existing credit facilities, refinance indebtedness, and for 
1.07%                   acquisition purposes. (Public) 
 
Ripon Mortgages FRN     High Grade ABS (AA+/Aaa). UK RMBS. The portfolio comprises buy-to-let loans originated by 
1.2814% 20 Aug 2056     Bradford and Bingley and Mortgage Express, secured over residential properties located in 
                        England and Wales. (Public) 
1.05% 
 
Hammerson 6% 23 Feb     Hammerson plc develops, builds, and manages commercial buildings, offices, and shopping centres 
2026                    mainly operating throughout the United Kingdom, but also with investment and development 
                        activities in France and Germany  Senior unsecured, bullet bond.  (Public) 
1.04% 
 
 

Interim management report and statement of directors' responsibilities

Interim management report

The important events that have occurred during the period under review, the key factors influencing the financial statements and the principal factors that could impact the remaining six months of the financial period are set out in the Chairman's statement and the Investment Manager's report.

Principal risks

The principal risks faced by the Company during the remaining six months of the year can be divided into various areas as follows:

*             Market risk; 
*             Credit risk; 
*             Investment management performance risk; 
*             Liquidity risk; 
*             Dividend policy risk; 
*             Operational risk; 
*             Regulatory, legal and statutory risk: changes in laws, government policy or regulations; and 
*             Sustainability risk. 

These are consistent with the principal risks described in more detail in Company's Annual Report and Financial Statements for the year ended 31 December 2020, which can be found in the Strategic Report on pages 17 to 22 and in note 14 on pages 95 to 98 and which are available on the website at: www.mandg.co.uk/creditincomeinvestmenttrust The Board continues to review the societal and economic impacts of governmental responses to theCOVID-19 pandemic, as well as the operational risks that the pandemic poses to the Company and its service providers. The duration and ultimate impact of the pandemic remains difficult to predict and the Board will continue to monitor and report on material developments on an ongoing basis.

For further information on the impact of COVID-19 on the Company's principal risks and uncertainties, please refer to the Investment Manager's report.

The Investment Manager and the Company's other third-party service providers have implemented appropriate business continuity plans and remain fully operational whilst their staff continue to predominantly work from home. Notwithstanding the overarching impact of COVID-19, in the view of the Board, the principal risks facing the Company since the previous report remain unchanged and these principal risks and uncertainties are equally applicable to the remaining six months of the financial year as they were to the six months under review.

Going concern In accordance with the latest guidance issued by the Financial Reporting Council, the Directors have undertaken and documented a rigorous assessment of whether the Company is a going concern. The Directors considered all available information when undertaking the assessment.

The Directors believe that the Company has appropriate financial resources to enable it to meet its day-to-day working capital requirements and the Directors believe that the Company is well placed to continue to manage its business risks.

In assessing the going concern basis of accounting, the Directors have also considered the COVID-19 pandemic and the impact this may have on the Company's investments and the Company's NAV.

The Directors consider that the Company has adequate resources to continue in operational existence for the next 12 months. For this reason they continue to adopt the going concern basis of accounting in preparing these condensed financial statements. Related party disclosure and transactions with the Investment Manager M&G Alternatives Investment Management Limited, as Investment Manager, is a related party to the Company. The management fee due to the Investment Manager for the period is disclosed in the condensed income statement and in note 3, and amounts outstanding at the period end are shown in note 8. The Company holds an investment in M&G European Loan Fund which is managed by M&G Investment Management Limited. At the period end this was valued at GBP17,458,741 and represented 12.16% of the Company's investment portfolio.

(MORE TO FOLLOW) Dow Jones Newswires

September 16, 2021 10:43 ET (14:43 GMT)

All news about M&G CREDIT INCOME INVESTMENT TRUST PLC
10/08Holdings in Company
DJ
10/04Total Voting Rights
DJ
10/01M&G CREDIT INCOME INVESTMENT TRUST P : Director Declaration
DJ
09/23M&G CREDIT INCOME INVESTMENT TRUST P : Transaction in Own Shares
DJ
09/22M&G CREDIT INCOME INVESTMENT TRUST P : Monthly Performance Factsheet
DJ
09/17M&G CREDIT INCOME INVESTMENT TRUST P : Director/PDMR Shareholding
DJ
09/16M&G CREDIT INCOME INVESTMENT TRUST P : 2021 -8-
DJ
09/16M&G CREDIT INCOME INVESTMENT TRUST P : 2021 -7-
DJ
09/16M&G CREDIT INCOME INVESTMENT TRUST P : 2021 -6-
DJ
09/16M&G CREDIT INCOME INVESTMENT TRUST P : 2021 -3-
DJ
More news
Financials
Sales 2020 6,54 M 9,00 M 9,00 M
Net income 2020 5,78 M 7,96 M 7,96 M
Net cash 2020 7,28 M 10,0 M 10,0 M
P/E ratio 2020 22,0x
Yield 2020 4,65%
Capitalization 141 M 194 M 194 M
EV / Sales 2019 29,5x
EV / Sales 2020 19,2x
Nbr of Employees -
Free-Float 97,5%
Chart M&G CREDIT INCOME INVESTMENT TRUST PLC
Duration : Period :
M&G Credit Income Investment Trust plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends M&G CREDIT INCOME INVESTMENT TRUST PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 0,99 
Average target price
Spread / Average Target -
Managers and Directors
David Robert Simpson Non-Executive Chairman
Richard Michael BolÚat Senior Independent Director
Annette Barbara Powley Independent Non-Executive Director
Sector and Competitors