The Bankers Investment Trust PLC Reports Strong Net Asset Value Growth

Highlights:

• Strong NAV Growth: The Bankers Investment Trust PLC reported robust unaudited net asset values per share, reaching 124.8p (AIC formula) and 127.6p (with debt marked at fair value) as of June 11, 2024.
• Transparent Financial Reporting: The Company detailed unaudited NAV figures excluding current year revenue items and treasury shares at 123.6p, with an increase to 126.4p including debt marked at fair value.
• Valuation Methodology: The fair values of GBP and Euro-denominated unsecured loan notes were calculated using specific discount rates based on UK Gilt and Euro Swap yields respectively, demonstrating rigorous financial management practices.

The Bankers Investment Trust PLC (NZX: BIT) has disclosed its latest unaudited net asset values (NAV), showcasing robust growth as of June 11, 2024. The NAV per share, calculated according to the AIC formula and including current financial year revenue items but excluding treasury shares, stood at 124.8p. When including debt marked at fair value, this figure rose to 127.6p per share.

Unaudited NAV Highlights

As of the same date, the unaudited NAV per share, excluding current financial year revenue items and treasury shares, was reported at 123.6p. Including debt marked at fair value, this increased to 126.4p per share.

Valuation Methodology

The current estimated fair value of the Company’s GBP-denominated unsecured loan notes is determined using a discount rate based on the yield of a UK Gilt with a similar maturity, supplemented by a credit spread. Similarly, the fair value of Euro-denominated unsecured loan notes is assessed using a discount rate derived from a Euro Swap of comparable maturity, also augmented by a credit spread.

Financial Outlook

These figures reflect The Bankers Investment Trust PLC’s strategic focus on prudent financial management and effective asset valuation practices amidst fluctuating market conditions. The Company remains committed to maintaining transparent reporting standards and delivering value to its shareholders through diligent portfolio management and rigorous financial oversight.

The Bankers Investment Trust PLC continues to navigate the evolving economic landscape with a steady approach, leveraging its expertise in investment management to optimize returns and uphold investor confidence.

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