AUS
NZ
UK
CA
USA
IND
IMF Bentham Limited (ASX:IMF) provides investment and financial services in Australia. The Company offers litigation funding to insolvency partners including payment of the fees to solicitors, barristers and insolvency practitioners. IMF Bentham also provides indemnity to the insolvency practitioner for any adverse costs order.
The company has disclosed on ASX its Investment portfolio at 31 December 2018, a snippet briefing the key highlights is stated below:
In late 2018 IMF successfully closed its fourth Fund, which is US-centric with capital commitments of US$500 million. This fund has a potential to increase to US$1.0 billion. Also, during the December 2018 quarter, a Gross revenue of $9.1 million was earned from completed and ongoing investments.
Moreover, Eleven new unconditionally funded investments were added to the portfolio with a combined EPV of $672 million.
Regarding the position at 31 December 2018, IMF had a total of 91 approved investments at various stages of funding, with a total potential aggregate EPV of $7.6 billion. The aggregate EPV of the 80 unconditionally funded matters is $6.4 billion, representing an increase of 10% on the prior quarter.
The Rest of World Funds commenced in October 2017. At 31 December 2018, these Funds were committed to 95.6% of available capacity.
Investment Commitments reflect the investment budgets for the full life of all unconditionally funded investments and also include aggregate commitments of $12.2 million to three conditionally funded investments. Investment Deployments reflects the amount of the Investment Commitments which have been drawn at 31 December 2018. In addition to the Investment Commitments, IMF has a further eight investments which have been approved by the investment committee but are not yet funded, which have a combined investment budget of $44.1 million. The Other Costs amount includes the cost of the After-the-Event insurance policy that will respond to claims for adverse costs within the funds, together with unrecoverable due diligence costs.
If the conditionally approved investments do not proceed, the related budgeted amounts will revert to the available capacity pool to fund further investments. However, to address our short-term funding requirements, the investors in Fund 2 and Fund 3 have agreed to increase their capital commitment capacity by 20%, providing an additional $30 million of capital and increasing the aggregate Rest of the World Fund size to $180 million. Besides, IMF will accelerate plans to launch Fund 5.
US Fund 1 commenced in February 2017. At 31 December 2018, the Fund had committed 89.1% of available capacity. Investment Commitments reflect, generally fixed, capital commitments. There are no conditionally funded, or Investment Committee approved but not yet funded investments in Fund 1. Once this Fund is fully committed, new US investment will occur within the recently closed Fund 4.
Now let us quickly have a look at the companyâs stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $3.09 and is trading down by 0.643% during the dayâs trade, with a market capitalization of circa $636.33 million. The counter opened the day at $3.07, reached a dayâs high of $ 3.10 & touched an Intraday low of $3.035. The stock has yielded a Year Till Date returns of 0.65% and posted returns of 15.61%, 7.24% & 0.65% over the past six months, three months & one-month period respectively. It had a 52-week high price of $3.33 and touched 52 weeks low of $2.230, with an average volume of 221,503 approximately.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
