Company profile - Aberdeen Asian income fund feature image - 28062019- JPGmoney & pens

CVC Credit Partners European Opps

LN: CCPG

£190.3m market cap

81.4p last close

CVC Credit Partners European Opportunities is a closed-end investment company, domiciled in Jersey and listed in London. It invests through a Luxembourg vehicle, CVC European Credit Opportunities, aiming to provide investors with regular income and capital appreciation from a diversified portfolio of predominantly sub-investment grade debt instruments. The portfolio is split into two pools, performing credit and credit opportunities.

Investment summary

CVC Credit Partners European Opportunities (CCPEOL) achieved an NAV return of 3.1% in sterling and 1.6% in euro terms in FY19. The investment vehicle through which CCPEOL invests achieved a gross return of 2.9% (in euro terms), behind its target of 8–10% per year. This was largely due to several restructuring processes within the credit opportunities pool taking longer than expected. However, these have shown good progress recently and, together with prospective new credit investment opportunities, now offer further upside potential for 2020. Meanwhile, the performing credit holdings delivered solid returns as the investment manager was able to profit from the recent ‘flight to quality’ in credit markets.

Share price graph
Price performance
%
1m
3m
12m
Actual 11.5 (19.0) (24.6)
Relative* 1.0 (12.4) (15.2)
52-week high/low 109.5p/60.0p
*% relative to local index

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