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

EJF Investments


£105.9m market cap

165p last close

EJFI seeks to generate attractive risk-adjusted returns by investing in assets benefiting from regulatory and structural changes in the financial services sector. These opportunities can include structured debt and equity, loans, bonds, preference shares, convertible notes and private equity, in both cash and synthetic formats issued by entities domiciled in the US, UK and Europe. Investments consist primarily of securitisation and related investments and specialty finance investments.

Investment summary

EJF Investments (EJFI) delivered a 9.5% total return in H119. Despite the recent US rate cut receiving much attention, conditions remain supportive for US community and regional banks and insurance, whose subordinated securities support the US securitisation risk-retention investments that, along with related securities, account for 72% of EJFI’s portfolio. Management remains optimistic on this asset class. In April EJFI redeemed a collateralised debt obligation (CDO) netting £8.9m in total, having earlier purchased one in March (forecast IRR 10–11%) and completed a further $11m investment in September.

Share price graph
Price performance
Actual (1.5) (5.7) (10.3)
Relative* 8.3 2.7 (5.4)
52-week high/low 189.0p/165.0p
*% relative to local index
Key management
Peter Stage Senior Managing Director

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