Company Announcements

Starlight Hybrid Global Real Assets Trust (NEO: SCHG.UN) Reports Q2 2019 Results

Source: Business Wire

TORONTO--(BUSINESS WIRE)--Aug. 13, 2019-- Starlight Investments Capital LP (“Starlight Capital”), on behalf of Starlight Hybrid Global Real Assets Trust (the “Trust”), announced today the Trust’s financial results for the three and six-months ended June 30, 2019.

Q2 2019 HIGHLIGHTS

Private Placement
On May 6, 2019, Starlight Capital announced that the Trust intends to complete a non-brokered private placement of series C units (the “Series C Units”) of the Trust for gross proceeds of up to $20,000,000 (the “Offering”). On July 5, 2019, the Trust closed the Offering for gross proceeds of $4,589,115. Pursuant to the Offering, the Trust issued an aggregate of 446,412 Series C Units at the offer price of $10.28 per unit which was the net asset value per Series C Unit on the pricing date, May 31, 2019, plus costs of 1.5%.

Portfolio Investments
As at June 30, 2019, the Trust had an investment of $20,396,620 in the Starlight Global Real Assets LP (the “Public Portfolio LP”) and $7,720,496 in two private investments as well as a commitment of $3,279,503 million to Starlight Canadian Residential Growth Fund. The Public Portfolio LP had 38 investments with a market value of $20,092,859 in publicly traded global real estate and infrastructure securities.

Distributions
The Trust targets a $0.50 gross distributions per unit per annum (5.0% yield based on the initial offering price per unit) at the discretion of its trustees, to be paid on a monthly basis. As at June 30, 2019, the Trust declared five distributions of $0.0416667 per series A unit and Series C Unit for a total distribution of $0.20834 per unit for each of Series A and Series C. The Trust also declared three distributions of $0.0416667 per series F unit for a total distribution of $0.125.

Q2 2019 FINANCIAL AND OPERATIONAL HIGHLIGHTS

 

For the three-months ended

June 30, 2019

For the period from

December 13, 2018 to

December 31, 2018

Current assets

$28,705,796

$28,312,178

Current liabilities

223,555

497,061

Net assets attributable to holders of redeemable units per series

 

 

Series A

20,959,572

19,085,354

Series C

7,522,669

7,370,787

Series F

1,358,976

 

$28,482,241

$27,815,117

ANALYSIS OF FINANCIAL PERFORMANCE
The Trust’s financial performance and results of operations for the three and six months ended June 30, 2019 are summarized below:

Three months ended

June 30, 2019

Six months ended

June 30, 2019

Investment gain/(loss)

114,987

1,594,587

Expenses

(161,239)

(317,670)

Net Investment income/(loss)

(46,252)

1,276,917

Increase/(Decrease) in net assets attributable to holders of redeemable units

(46,252)

1,276,917

Financial Information

The Trust’s condensed interim financial statements, the notes thereto, and Management’s Discussion and Analysis for the three-month period ended June 30, 2019, can be found on Starlight Capital’s website at www.starlightcapital.com or www.sedar.com.

About Starlight Hybrid Global Real Assets Trust
The Trust’s investment objective is to provide unitholders with stable monthly cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors.

About Starlight Capital and Starlight Investments
Starlight Capital is an independent asset management firm offering mutual funds, exchange-traded funds and structured products. Our goal is to deliver superior risk adjusted returns to investors through a disciplined investment approach, Focused Business Investing. Starlight Capital is a wholly owned subsidiary of Starlight Investments. Starlight Investments is a privately held, full service, real estate investment and asset management company. The firm manages over $11.0 billion of assets on behalf of institutional joint ventures as well as publicly listed REITs, closed-end funds and investment funds and is driven by an experienced team of over 200 professionals. Please visit us at www.starlightcapital.comand connect with us on LinkedIn.

Source: Starlight Investments Capital LP

Graeme Llewellyn

Chief Financial Officer &

Chief Operating Officer

1-416-855-2643

gllewellyn@starlightcapital.com

Dennis Mitchell

Chief Executive Officer & Chief Investment Officer

1-416-855-2642

dmitchell@starlightcapital.com

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