Investment Trusts

GCP Asset Backed Income Limited

GABI:LSE

GCP Asset Backed Income Limited

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  • Price (GBX)68.00
  • Today's Change-0.20 / -0.29%
  • Shares traded473.95k
  • 1 Year change+2.10%
  • Beta0.9428
Data delayed at least 20 minutes, as of Mar 28 2024 16:39 BST.
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About the company

GCP Asset Backed Income Fund Limited is a Jersey-based closed-ended investment company. The Company is focused predominantly on investments in the United Kingdom asset-backed loans. The Company seeks to provide shareholders with attractive risk-adjusted returns through regular, growing distributions and modest capital appreciation over the long term. It invests in a diversified portfolio of asset-backed loans across the social infrastructure, property, energy and infrastructure, and asset finance sectors, located predominantly in the United Kingdom. The Company's investments will typically be unquoted and will include senior loans, subordinated loans, mezzanine loans, bridge loans and other debt instruments. The Company may also make limited investments in equities, equity-related derivative instruments, such as warrants, controlling equity positions (directly or indirectly) and/or directly in physical assets. Its investment manager is Gravis Capital Management Limited.

  • Revenue in GBP (TTM)12.78m
  • Net income in GBP5.48m
  • Incorporated2015
  • Employees0.00
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Profile

Management group(s)Gravis Capital Management Limited
AIC sectorDebt - Direct Lending
ISINJE00BYXX8B08
Launch date23 Oct 2015
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

Objective

The Company seeks to meet its investment objective through a diversified portfolio of investments which are secured against, or comprise, contracted, predictable medium to long-term cash flows and/or physical assets. The Company's investments will predominantly be in the form of medium to long-term fixed or floating rate loans which are secured against cash flows and/or physical assets which are predominantly UK based. The Company's investments will typically be unquoted and will include, but not be limited to, senior loans, subordinated loans, mezzanine loans, bridge loans and other debt instruments. The Company may also make limited investments in equities, equity-related derivative instruments such as warrants, controlling equity positions (directly or indirectly) and/or directly in physical assets.

Managed by

Philip Kent, Luther Ward-Faint

Management & contract fees

The investment management fee which is calculated and paid quarterly in arrears at an annual rate of 0.9% per annum of the prevailing NAV of the Company less the value of the cash holdings of the Company pro rata for the period for which such cash holdings have been held. Contract may be terminable on notice period of 12 months.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Manchester & London Investment Trust plc107.72m104.00m268.49m0.002.580.9839--2.492.592.592.686.790.4719--596.80--45.562.6846.462.8797.1570.4196.5462.63----0.0097.36192.45-2.17147.011.42--3.13
CC Japan Income and Growth Trust PLC41.93m38.34m268.79m0.007.011.14--6.410.28460.28460.31121.750.1879--10.25--17.186.2917.486.4195.9190.5691.4480.26--1,974.850.0048.68543.7253.47397.4977.70--7.16
Montanaro European Smllr Cmpns Trst PLC32.88m29.03m269.93m0.009.301.03--8.210.15320.15320.17361.390.1263--40.25--11.159.4211.479.6592.0691.1788.2787.57----0.03177.16-187.25---228.10------
Henderson High Income Trust plc17.52m13.35m270.26m0.0015.270.9542--15.430.10280.10280.1351.650.0658--4.37--5.011.275.721.4680.0660.1076.1952.01----0.0851348.78-118.48---129.32----1.55
Diverse Income Trust PLC-100.00bn-100.00bn272.67m0.00--0.9998----------0.8561----------0.468--0.4694--45.27--29.18----0.00791.73-521.36---341.14------
Martin Currie Global Portfolio Trust PLC22.84m20.59m274.08m0.0014.291.11--12.000.27570.27570.29483.550.0761--72.50--6.865.777.235.8793.4887.6390.1683.32----0.101621.66-353.97---479.28----0.00
CQS New City High Yield Fund Ltd23.30m17.90m278.09m0.0015.341.09--11.940.03380.03380.04490.4750.0829--4.30--6.373.167.273.6681.6476.6576.8268.52----0.1215191.840.3139-11.61-20.26-22.57--0.3148
VH Global Sustainable Enrgy Opprtnts PLC22.47m17.73m281.57m0.0016.340.6225--12.530.0420.0420.05311.100.0549--45.25--4.33--4.34--84.60--78.93------0.00--------------
Intuitive Investments Group PLC-2.45m-3.24m288.04m0.00--1.18-----0.452-0.452-0.32591.20-0.2078-------27.50---27.66-------------38.450.00---97.38---179.33------
Literacy Capital PLC56.33m48.20m289.20m0.006.040.9605--5.130.7980.7980.93515.02----------------95.10--85.57----34.670.0305--------------
GCP Asset Backed Income Fund Ltd12.78m5.48m289.43m0.0052.710.7237--22.650.01290.01290.02950.93960.0288------1.244.641.244.6672.1586.0342.8876.28--4.880.1072129.75-32.78-5.12-48.66-11.32--0.8898
BlackRock Frontiers Investment Trust PLC70.76m59.31m289.56m0.004.881.01--4.090.31330.31330.37371.520.2545--24.40--21.335.7522.475.9786.0576.9883.8169.39--651.680.000175.08385.55--303.03----1.57
Jpmorgan Asia Growth & Income PLC24.81m20.82m297.68m0.0016.190.9186--12.000.2150.2150.2643.790.0703--11.63--5.903.335.923.3491.5786.5983.9477.27----0.00123.48136.64-3.51129.28-4.21--0.00
Schroder Japan Trust PLC35.19m31.35m304.43m0.009.931.02--8.650.25870.25870.29032.520.1071--31.62--9.543.089.593.2293.4483.0489.0972.54----0.097967.36413.872.39904.202.78----
STS Global Income & Growth Trust PLC6.24m3.14m309.47m0.0069.070.9996--49.570.03190.03190.06352.200.0268--2.67--1.357.441.467.7368.8691.9950.2885.12----0.071338.07-103.23---112.86----0.3257
Scottish Oriental Smaller Co's Trust PLC30.28m20.40m309.50m0.0015.620.8897--10.220.82920.82921.2314.560.0787--24.49--5.304.715.344.7881.4086.2267.3769.90----0.077619.50-15.11---29.61----2.48
Data as of Mar 28 2024. Currency figures normalised to GCP Asset Backed Income Limited's reporting currency: UK Pound GBX

Institutional shareholders

42.04%Per cent of shares held by top holders
HolderShares% Held
Valu-Trac Investment Management Ltd.as of 12 Jan 202437.23m8.75%
CCLA Investment Management Ltd.as of 14 Dec 202333.68m7.91%
Close Asset Management Ltd.as of 21 Mar 202428.22m6.63%
Waverton Investment Management Ltd.as of 11 Jan 202424.22m5.69%
West Yorkshire Pension Fundas of 20 Dec 202318.42m4.33%
Rathbones Asset Management Ltd.as of 20 Mar 20249.70m2.28%
Almitas Capital LLCas of 14 Mar 20247.09m1.67%
EFG Private Bank Ltd.as of 20 Mar 20247.00m1.65%
FS Wealth Management Ltd.as of 20 Feb 20246.71m1.58%
Legal & General Investment Management Ltd.as of 14 Mar 20246.66m1.57%
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Data from 31 Mar 2022 - 20 Mar 2024Source: FactSet Research Systems Inc.
Data Provided by LSEG
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