Specialist Investment Manager Gryphon Capital Income Trust (ASX: GCI) with a proven track record of investment outperformance, released its investment update for the November month. Following this release, the share price of the Gryphon Capital decreased by 0.25 percent as on 11 December 2018.
For the month of November, Gryphon Capital announced a distribution of 0.86 cents per unit which represents an annualized distribution yield of 5.36 percent.
Further, the distribution of the month is delivering more than the Target return of RBA Cash +3.5 percent.In the November Month, the company delivered a net return of 0.44 percent and the RBA cash rate of 0.12 percent.
During the November month of 2018, the company experienced quite a busy primary new issue market, with three (Residential Mortgage Backed Securities) RMBS and one ABS (Asset-Backed Securities) being priced, totaling A$3.0 Bn. In the month of October 2018, due to a combination of credit and the Gryphon Capital Income Trust (GCIT) portfolio optimization considerations, the company’s investment committee had decided that they were not going to take participation in any of these transactions. However, the company sold a AAA RMBS position at the end of the month to participate in compelling investment opportunities before the end of the year. In the October month also, the company had experienced quite a busy primary new issue market, with three (Residential Mortgage Backed Securities) RMBS and one ABS (Asset-Backed Securities) being priced, totaling A$3.2 Bn.
Gryphon’s core objective is to construct a resilient investment portfolio which could provide stability and protection against the broader market. In the November month, the global credit markets struggled across the board mainly due to the geopolitical concerns on risk appetite.
Currently, the company is having a total number of 40,625 Underlying Loans with Weighted Average Underlying Loan Balance of $504,265. As at 7 December 2018, the company was having Net Tangible Asset (NTA) per unit of $2.0036. For the period from 20 December 2017 to 30 June 2018, the company reported a total net investment income of $0.65 million and total operating expenses of $0.20 million. The company earned a total comprehensive income of $0.435 million with basic and diluted earnings per share of 0.52 cents.
As at 30 June 2018, the company was having total assets of $175.957 million and total liabilities of 0.607 million. Net cash inflow used for operating activities was $139.60 million, and a net cash outflow from investing activities was $5.259 million. As at 30 June 2018, the company was having cash and cash equivalent of $30.43 million.
Meanwhile, in the last three months, the share price of the company plunged by 0.50 percent as on 10 December 2018. GCI’s shares traded at $1.995 with a market capitalization of circa $175.3 million as 11 December 2018 (AEST 2:49 PM).
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