GCP Asset Backed
107.75p
Share price
on 06 Dec 2019
£476m
Market cap
on 06 Dec 2019
6.35p
12 month dividend

Fund summary

 

IPO date
November 2015
Trading
Main market LSE
Structure
Closed ended investment fund
ISIN
JE00BYXX8B08
SEDOL
BYZX6B4
Ticker
GABI.LN
Dividend payment dates
Feb, May, Aug, Nov
Last quarterly dividend Sep 19
1.55p

Ordinary shares 

Investments
£444.4m
Cash
£8.0m
Borrowings
-£1.2m
NAV
£451.7m
Shares in issue
441.1m
NAV per share
102.40p
Share price premium to NAV
6.0%
Ongoing charge percentage
1.2%

 

Name and address
GCP Asset Backed Income Fund Ltd
12 Castle Street, St Helier, Jersey, JE2 3RT
Board of Directors
Alex Ohlsson / Joanna Dentskevich / Colin Huelin
Fund managers
David Conlon

As at 30 Sep 2019

Investment strategy

The Company’s investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

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.

The Company will at all times invest and manage its assets in a manner which is consistent with the objective of spreading investment risk.

The team

Directors

Alex Ohlsson

Alex Ohlsson

Chairman

Alex Ohlsson

Alex Ohlsson

Chairman

Alex is the managing partner of the law firm Carey Olsen, and is recognised as an expert in corporate and finance law in Jersey with a particular focus on international real estate finance and structures. He's the independent chairman of the States of Jersey's audit committee and an advisory board member of Jersey Finance. Alex is also a member of the Financial and Commercial Law Sub-Committee of the Jersey Law Society which reviews as well as initiates proposals for legislative changes. He acts as a non-executive director of a number of companies and is also chairman of the London Stock Exchange main market-listed company Foresight Solar Fund Limited.


Colin Huelin

Colin Huelin

Director

Colin Huelin

Colin Huelin

Director

Colin Huelin graduated in Mechanical Engineering with a First Class Honours degree from Southampton University in 1982, and completed his graduate management development and monitored professional development scheme with Shell UK and the I. Mech. E in 1986. He qualified as a Chartered Accountant with Ernst & Young in 1989 and was appointed Finance Director for Computer Patent Annuities (CPA) in February 1990, and CEO for CPA in 1995. In 1998 Colin joined Abbey National Offshore as Head of Financial Planning, was promoted to Finance Director in 2003 and then Managing Director of Santander Private Banking in Jersey in 2007, a position he held until May 2015.


Joanna Dentskevich

Joanna Dentskevich

Director

Joanna Dentskevich

Joanna Dentskevich

Director

Joanna has over 25 years of risk, finance & investment banking experience gained in leading global banks worldwide, alternative investments and the offshore fiduciary industry.

She was a Director at Morgan Stanley heading up their Global Customer Valuation Group, Director of Risk at Deutsche Bank and Chief Risk Officer of a London based hedge fund.

Joanna has a BSc Hons in Maths & Accounting and is a Chartered Member of the Chartered Institute of Securities & Investments and a member of the Institute of Directors. She is also chair of EJF Investments Ltd which is traded on the London Stock Exchange (Specialist Fund Sector)


Marykay Fuller

Marykay Fuller

Director

Marykay Fuller

Marykay Fuller

Director

Marykay is a banking and finance professional with 30 years’ experience in debt and equity markets, working with a broad range of businesses across a variety of jurisdictions including the UK, USA, Europe, South America and Asia. Most recently, she was a senior deal advisory partner at KPMG LLP where she also represented the firm on the Board of the trade group, British American Business.

Marykay is currently a non-executive director of the UK Civil Aviation Authority, where she is a member of the audit committee. She also serves on the Alumni Advisory Board of Heinz College, Carnegie Mellon University in the USA.



Administrator & service providers

Administrator & Secretary

Apex Financial Services (Alternative Funds) Limited (formerly Link Alternative Fund Services (Jersey) Limited
12 Castle Street
St. Helier
Jersey
JE2 3RT

Investment Manager & AIFM

Gravis Capital Management Ltd
24 Savile Row
London
W1S 2ES

Registrar

Link Market Services (Jersey) Limited
12 Castle Street
St. Helier
Jersey
JE2 3RT

Advisers on English Law

Gowling WLG
4 More London Riverside
London
SE1 2AU

Advisers on Jersey Law

Carey Olsen
47 Esplanade
St. Helier
Jersey
JE1 0BD

Auditor of the Company

PricewaterhouseCoopers LLP
37 Esplanade
St. Helier
Jersey
JE1 4XA

Corporate Broker & Financial Adviser

Cenkos Securities plc
6.7.8 Tokenhouse Yard
London
EC2R 7AS

Principal Bankers

The Royal Bank of Scotland International Limited
Royal Bank House
71 Bath Street
St. Helier
Jersey
JE4 8PJ

Receiving Agent

Link Asset Services
Corporate Actions
The Registry
34 Beckenham Road
Beckenham
Kent
BR3 4TU

Valuation Agent

Mazars LLP
Tower Bridge House
St Katharine’s Way
London
E1W 1DD

Terms and conditions

THE INFORMATION ON THIS WEBSITE IS INTENDED TO BE USED FOR REFERENCE PURPOSES ONLY BY PERSONS IN THE UK. THE INFORMATION IS NOT INTENDED FOR PERSONS OUTSIDE THE UK WHERE THE AVAILABILITY OR PUBLICATION OF SUCH INFORMATION IS PROHIBITED OR RESTRICTED INCLUDING, BUT NOT LIMITED TO, THE UNITED STATES ITS TERRITORIES, POSSESSIONS AND PROTECTORATES UNDER ITS JURISDICTION. NOTHING ON THIS WEBSITE IS TO BE CONSIDERED AS AN OFFER TO DEAL IN THE SHARES OF GCP ASSET BACKED INCOME FUND LIMITED (“GCP ASSET BACKED”) IN ANY JURISDICTION

This website provides general information about GCP Asset Backed only. It does not constitute investment advice and should not be relied upon as such by any person. Prospective investors should take advice from an authorised financial adviser to assess whether an investment in GCP Asset Backed is suitable.

Shares in GCP Asset Backed may not be offered or sold directly or indirectly in the United States. They have not been nor will they be registered under the U.S. Securities Act of 1933, as amended, and GCP Asset Backed is not registered under the U.S. Investment Company Act of 1940, as amended. The shares in GCP Asset Backed have not been and will not be registered under the applicable securities laws of Australia, Canada, Japan or the Republic of South Africa and may not be offered or sold in these jurisdictions.

Recipients of information on this website in any other jurisdiction should inform themselves about and observe any applicable legal requirements in their jurisdiction.

It should be remembered that the price of shares in GCP Asset Backed and the income from them can go down as well as up.

GCP Asset Backed is managed by Gravis Capital Management Limited (“Gravis”). No warranty is made by Gravis as to the accuracy or completeness of any information on this website. Any price information or indications of past performance on this website are for information purposes only, are subject to change without notice and can in no way be construed as a guarantee of future performance.

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