A capital management company has announced a share sale in its asset-backed stock market fund.
Gravis Capital Management, whose Gravis Capital Partners asset backed income fund invests in asset-backed loans, is offering shares targeting a raise in excess of £70m.
According to the company’s site, the fund, which is closed, has a current net asset value per share of 100.22p, has been on the stock market since 23 October 2015, and paid out 1.5p dividend per share on August 17 2017.
The fund, which is targeted at institutional investors and promises steady returns, will close the share offering on 11 October.
Gowling WLG is acting as agent on the sale.