Erweiterte Funktionen


Axiom European Financial Debt Fund - Resilience and regulatory changes driving returns




17.11.21 07:26
Edison Investment Research

Axiom European Financial Debt Fund (AXI) has made a 21% total return over the last 12 months, well above the average of its debt investing closed-end funds peers. AXI’s investment space, European financials regulatory capital debt, has remained buoyant. Bank capital equity ratios remain high, NPLs are falling, balance sheet liquidity is comfortable and profitability is growing (eurozone banks’ average ROE was 7.2% in Q121). Rising interest rates (if not excessive) should be good news for banks’ margins and profitability at this stage of the cycle. AXI’s portfolio has a 7.8% running yield; 8.3% to perpetuity. AXI is trading on an 11% discount to NAV with a covered 6.4% dividend yield.




 
 

Aktien des Tages
  

Jetzt für den kostenfreien Newsletter "Aktien des Tages" anmelden und keinen Artikel unseres exklusiven Labels AC Research mehr verpassen.

Das Abonnement kann jederzeit wieder beendet werden.

RSS Feeds




Bitte warten...