Oct 22nd 2012 - Edison Investment Research today published a report on GLI Finance (GLIF.L, LSE:GLIF, LON:GLIF) entitled "NAV Up, Helped By Net Retentions". In summary, the report says:
Greenwich Loan Income Fund (GLIF) has announced that Q312 accounting NAV rose to 49.7p, up from the 47.9p reported in June and despite a 3% adverse exchange rate effect. There has been asset appreciation and revenue more than exceeded costs and dividend payments. Our preferred franchise value rose to 54.3p. As in the past two quarters all the collateral tests in the CLO were passed, but once again continued prepayments have meant the fund is sitting on too much cash.
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