money-2696219

Marble Point Loan Financing

LN: MPLF

$158.4m market cap

$0.77 last close

MPLF’s investment objective is to generate stable current income and to grow net asset value by earning a return on equity in excess of the amount distributed as dividends, through exposure to a diversified portfolio of US dollar denominated, broadly syndicated, floating rate senior secured corporate loans. MPLF has no official benchmark but performance is compared with US leveraged loan and high-yield bond indices.

Investment summary

Marble Point Loan Financing (MPLF) is a closed-end fund that invests in leveraged loans via collateralised loan obligations (CLOs) and loan accumulation facilities (LAFs) managed by Marble Point Credit Management (Marble Point). The experienced credit investment team employs a conservative, disciplined approach. MPLF’s mark-to-market pricing approach directly reflects market volatility and this was notable during the November-December 2018 selloff, when MPLF underperformed its peers. However, its underlying portfolio has been largely unaffected and cash flow generation remains strong. MPLF’s H119 interims showed a 13.5% annualised net investment income backing its 10.1% dividend yield.

Share price graph
Price performance
%
1m
3m
12m
Actual (2.5) (6.1) (24.5)
Relative* (1.1) (3.3) (26.8)
52-week high/low US$1.0/US$0.8
*% relative to local index
Key management
Robert Brown Chairman
Corey Geis Director of Capital Markets
Thomas Majewski Non-executive director
Thomas Shandell CEO & CIO

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