viewRM Secured Direct Lending

RM Secured Direct maintains defensive stance as world economy slows

"Late-stage lending can be advantageous for the company as lending rates can rise"

World economy is slowing, believes RM

Specialist debt trust RM Secured Lending PLC (LON:RMDL) is shifting its investment stance more towards non-cyclical sectors as it believes the world economy is slowing.

“Looking ahead into Q1 2019, the investment manager expects volatility to remain elevated and with investors focusing their attention on the macro-economic data, credit and equity markets will remain generally weak.

READ: RM Secured Direct Lending says all cash available for investment deployed during month of December

“Poor industrial production figures across Europe, released in January 2019, reinforced the widely held view that the global economy is slowing.

"Late-stage lending can be advantageous for the company as lending rates can rise, however, caution is warranted as these areas can still be affected by asset price declines."

Net asset value or NAV at the end of December was 96.98p or 1.22p lower than the end of November.

During the quarter there was one significant repayment (Exterion Media) one refinancing (Children’s Nurseries) and new investments in property bridging (3); receivables financing; Praetura Asset Finance and in a hostel property in Glasgow.

Shares are trading at 101.5p.

Quick facts: RM Secured Direct Lending

Price: 77.5 GBX

Market: LSE
Market Cap: £94.2 m

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