ver capital credit fund
The Ver Capital Credit Fund is an open-ended fund also available with both institutional and retail distribution classes. The Fund mainly invests in Euro denominated high yield bonds issued by European companies.
The Ver Capital Credit Fund is UCITS IV compliant with daily NAV sub-fund of the Luxembourg SICAV Nextam Partners.
The fund is available on the All Fund platform and it is also available in the Unit-linked policies of Aviva and Skandia.
| Investment Class | ISIN | Ticker Bloomberg |
|---|---|---|
| Institutional Class I - distribution | LU0700166308 | NEXVCCI |
| Institutional Class L - distribution | LU0862793717 | NEXVCCL |
| Institutional Class K - accumulation | LU1225619417 | NEXVCCK |
| Retail Class A - accumulation | LU0700166217 | NEXVCCA |
| Retail Class D – accumulation | LU1439831535 | NEXVCCD |
Performance Graph
Geographical Allocation (Top 10)
Industry Allocation (Top 10)
Rating Allocation
Top 10 Allocation
| Title | Ticker | Weight | Cumulated Weight |
|---|---|---|---|
| BULGARIAN TELECOM CO EAD | BLTEBG 6 ⅝ 11/15/18 | 1.21 % | 1.21 % |
| NOMAD FOODS BONDCO PLC | IGBOND 3 ¼ 05/15/24 | 1.11 % | 2.32 % |
| TELEFONICA EUROPE BV | TELEFO 4.2 12/29/49 | 0.93 % | 3.25 % |
| N&W GLOBAL VENDING SPA | NWGLOV 7 10/15/23 | 0.92 % | 4.17 % |
| EDREAMS ODIGEO SA | EDRSM 8 ½ 08/01/21 | 0.91 % | 5.08 % |
| THOMAS COOK GROUP PLC | TCGLN 6 ¼ 06/15/22 | 0.91 % | 5.99 % |
| AURIS LUXEMBOURG II | AUDIOL 8 01/15/23 | 0.90 % | 6.89 % |
| GARFUNKELUX HOLDCO 3 SA | GFKLDE 7 ½ 08/01/22 | 0.89 % | 7.77 % |
| LOXAM SAS | LOXAM 6 04/15/25 | 0.88 % | 8.66 % |
| ENCE ENERGIA Y CELULOSA | ENCSM 5 ⅜ 11/01/22 | 0.88 % | 9.54 % |
Ver Capital Cedola 2019
The Ver Capital Cedola 2019 is an open-ended UCITS IV compliant with daily NAV sub-fund of the Luxembourg SICAV Nextam Partners with fixed maturity of three years (maturity set at December 2019) mainly investing in Euro denominated high yield bonds issued by European companies.
The Fund has a semi-annual proceeds distribution objective and is available with both institutional and retail distribution or accumulation classes.
The Ver Capital Cedola 2019 will be open for subscriptions between 30 September 2016 and 31 October 2016.
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Documentation
VER CAPITAL CREDIT PARTNERS IV
The Ver Capital Credit Partners IV (VCCP) is a closed-ended fund reserved to qualified investors. The Fund invests in senior secured corporate loan and high yield bonds and was launched in 2015. The main features of the Fund are reported below:
- Total available resource €244 million;
- Focus on senior secured debt issued by non-financial institutions;
- Moderate use of leverage via a credit line issued by one of the main global investment banks;
- Limits to sector and geographic diversification;
- Max concentration on single issuer <2.5%;
- Over 70 issuers in the portfolio;
- Maturity 6 years, expected 5;
- Annual distribution of proceeds;
- Only senior secured debt;
- Mainly English Law (LMA Standard) debt;
- “Core Europe” portfolio with limited exposure to peripheral countries;
- Only debt issued by large companies with leadership position on their reference market;
Only liquid debt with at least 3 daily bids on Markit
VER CAPITAL CREDIT PARTNERS ITALIA V
The Ver Capital Credit Partners Italia V invests in Italian private debt issued by Italian middle-sized companies, and mainly in bonds listed on the Extra Mot Pro.
The investment strategy is based on:
- Non-financial large-sized companies (revenues comprised between €80 and €300 million) characterized by financial stability, adequate actual and prospective profitability and high cash generation;
- Senior financing;
- Around 80% of resourced allocated to primary market investments;
- Committed/issued financings must support international development, industrial growth, technology/brand/know-how valorization and financial structure optimization projects.
- Max single name exposure 5%
- Target investments structures are based on European standards as outlined by the Loan Market Association and typically assisted by collateral, financial covenants and information rights.
- Portfolio ramp up expected to complete within 3 years from first closing.
Among the investors that gave their subscription binding commitment there is the Fondo Italiano di Investimento. The maturity of the Fund is nine years from the first closing (July 2016).
ver capital credit opportunity fund
The Ver Capital Credit Opportunity Fund is a closed-ended fund reserved to qualified investors launched in 2010 and mainly investing in senior loans issued by European corporates.
The Fund has been officially liquidated in the second quarter of 2015 with a final IRR and cash of cash net of costs of respectively 5.87% and 1.23x.
Below some summary information:
| Capital Called | |
| From Investors | € 28.867.241 |
| From credit line | € 60.751.970 |
| Total Capital Called | € 89.619.210 |
| # of Investments | 45 |
ver capital mezzanine partners
The Ver Capital Mezzanine Partners Fund is a closed-ended fund reserved to qualified investors launched in 2006 and mainly investing in senior and subordinated tranches of leveraged loans and bonds issued by European corporates.
The fund closed its investment period in April 2012 and nears its full liquidation.
Below some summary information:
| Capital Called | |
| From Investors | €95.336.682 |
| From Credit Line | €78.639.858 |
| Total Capital Called | €173.976.540 |
| # of Investments | 29 |