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M&G Credit Income Investment Trust PLC on Wednesday reported a decline in net asset value during the first half of 2025, while its total return underperformed against its benchmark. The debt investment firm said net asset value per share at June 30 was 93.83 pence, down 1.3% from 95.11p at December 31. NAV total return for the six months to June 30 was 3.0%, underperforming a 4.3% return on its benchmark, the Sterling Overnight Index Average. The trust had reported an 8.1% total return during 2024. M&G Credit declared an interim dividend of 3.88 pence, which included quarterly dividends of 1.96p and 1.92p. ‘Elevated levels of uncertainty create challenge but also opportunity. The investment manager feels it is now more important than ever to remain patient and disciplined in its investment approach, and at current valuations will continue to keep the portfolio defensively positioned, prioritising credit quality over yield,’ said Chair David Simpson. ‘It has constructed a portfolio that it expects to be able to withstand wider market volatility but one which can be rapidly reshaped to take advantage of any such volatility when the opportunity presents itself. ‘This forms one of the core pillars of the company’s investment strategy, which is for the investment manager to seek to trade the liquid, public portion of the portfolio in order to generate gains which should contribute to the return target of SONIA +4%. Shares in M&G Credit Income Investment were up 0.5% at 95.45 pence in London on Wednesday afternoon. The stock remains down 0.2% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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