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NB Distressed Debt Investment Fund Ltd on Friday said optimism has been dampened by macroeconomic and political developments since the beginning of 2025. NB Distressed Debt is a fund focused on distressed, stressed and special situation credit, with a focus on senior debt backed by hard assets. It said net asset value per share fell 2.3% to 73.85 US cents at the end of June from 75.57 cents at the end of 2024. ‘The optimism I expressed in my report accompanying the 2024 annual report has been dampened by the macro-economic and political developments since then,’ said Chair John Hallam. ‘So, while two assets were realised in the early part of 2025 the pace of negotiations regarding the disposal of others has slowed.’ Hallam said the board believes ‘the time has now arrived’ to wind-up the company. The board expects to put proposals to shareholders by the end of the year to appoint a liquidator and place the company into voluntary liquidation. He said this will allow cash retained by the company to be distributed to shareholders in the short term. ‘The board expects that the company will make material cost savings as a result of being placed into voluntary liquidation,’ Hallam added. ‘If proposals to place the company into voluntary liquidation are rejected by shareholders, it is my intention to step down from the board as soon as my replacement is appointed,’ the chair concluded. Interest income fell 41% to $909,633 from $1.5 million a year earlier. Total expenses were down 3.5% to $681,282 from $705,786. As a result, net investment income dropped 73% to $228,351 from $833,224. Shares in NB Distressed Debt were flat at 62 US cents in London on Friday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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