Asset Backed Securities

UK Mortgages Limited

ISIN
GG00BXDZMK63
Sedol
BXDZMK6

The fund aims to provide Shareholders with stable income returns through low leveraged exposure to portfolios of loans secured against UK residential property.
83.55
NAV
5.51%
Performance YTD
As at 30 Sep 2020

UK Mortgages, is a listed closed-ended investment fund which invests in a diversified portfolio of good quality UK residential mortgages.

Investment Objective

The fund aims to provide Shareholders with stable income returns through low leveraged exposure to portfolios of loans secured against UK residential property.

Key Characteristics

The fund is targeting a net total return of 7-10% per annum.

Board Members

Biographical details of the Directors are as follows:

Christopher Waldron (Chairman) - Independent Non-Executive Director – Guernsey resident

Mr Waldron is the Chairman of Crystal Amber Fund Limited and a director of a number of unlisted companies. He has over 30 years' experience as an investment manager, specialising in fixed income, hedging strategies and alternative investment mandates and until 2013 was Chief Executive of the Edmond de Rothschild Group in the Channel Islands. Prior to joining the Edmond de Rothschild Group in 1999, Mr Waldron held investment management positions with Bank of Bermuda, the Jardine Matheson Group and Fortis. Mr Waldron is also a member of the States of Guernsey’s Policy and Resources Investment and Bond Sub-Committee and a Fellow of the Chartered Institute of Securities and Investment. Mr Waldron was appointed to the Board on 10 June 2015. 

Richard Burrows - Senior Independent Non-Executive Director – UK resident

Mr Burrows works as Treasurer of British Arab Commercial Bank plc in London. He has previously held senior Treasury related roles at Bank of China, London Branch (2015 – 2018), Co-operative Bank (2012 – 2015), Northern Rock (2009 – 2010) and Citi Alternative Investments (1994 – 2008). From 2010 to 2012, Mr Burrows worked in the Prudential Risk Division of the Financial Services Authority as the UK regulator rolled out its post-crisis requirements with specific focus on the liquidity regime. Mr Burrows was appointed to the Board on 12 June 2015.  

Paul Le Page (Audit Committee Chairman) - Independent Non-Executive Director–Guernsey resident

Paul Le Page was formerly an Executive Director and Senior Portfolio Manager of FRM Investment Management Limited, a subsidiary of Man Group. In this capacity he managed alternative investment portfolios for institutional clients and was a director of a number of group funds and structures. Prior to joining FRM, he was employed by Collins Stewart Asset Management, a firm which was subsequently acquired by Canaccord Genuity where he was responsible for managing the firm’s hedge fund portfolios and reviewing both traditional and alternative fund managers in his capacity as Head of Fund Research following completion of his MBA. He originally qualified as Chartered Electrical Engineer following a successful career in industrial R&D where he led the development of robotic immunoassay diagnostic equipment and software as R&D Director for Dynex Technologies Guernsey. In addition to his private directorship roles, Mr Le Page has chaired Audit and Risk Committees for a number of London Stock exchange-listed Investment Companies since January 2004. Mr Le Page was appointed to the Board on 10 June 2015. 

Helen Green - Independent Non-Executive Director - Guernsey resident

Mrs Green is a chartered accountant and has been employed by Saffery Champness, a top 20 firm of chartered accountants, since 1984. She qualified as a chartered accountant in 1987 and became a partner in the London office in 1998. Since 2000, she has been based in the Guernsey office where she is client liaison director responsible for trust and company administration. Mrs Green serves as a Non-Executive Director on the boards of a number of companies in various jurisdictions, including Aberdeen Emerging Markets Investment Company Limited, Landore Resources Limited, CQS Natural Resources Growth and Income plc and JPMorgan Global Core Real Assets Limited. Mrs Green was appointed to the Board on 16 June 2016.

The Directors named above were the directors of the Company, and held this office during theyear and up to the date of signing the financial statements.

Securitisations

Malt Hill No.2 plc

Link to transaction documents, monthly investor reports, loan level datatapes and cashflow model: https://www.euroabs.com/IH.aspx?d=10381

Oat Hill No. 1 

Link to transaction documents, monthly investor reports, loan level datatapes and cashflow model: https://www.euroabs.com/IH.aspx?d=11379

Malt Hill No.1 plc

Link to transaction documents, monthly investor reports, loan level datatapes and cashflow model: https://www.euroabs.com/IH.aspx?d=10673

Barley Hill No. 1 plc

Link to transaction documents, monthly investor reports, loan level datatapes and cashflow model: https://www.euroabs.com/IH.aspx?d=12049

To view share price information and regulatory announcements please click here.

Portfolio Managers

Insights

All data is as at 30 Sep 2020 unless otherwise indicated.

Fund data
Portfolio Manager TwentyFour Asset Management LLP
Fund Domicile Guernsey
Fund Currency GBP
Share Class Currency GBP
End of fiscal year 31 December
Fund Launch Date 7 Jul 2015
Share Class Launch date 7 Jul 2015
Distribution type Dist
Distribution frequency Quarterly
Dealing Daily trading on LSE Specialist Fund Market
Fund Registrations GB
Share Class Registrations GB
Nav Information
Highest since launch 97.93
Lowest since launch 79.42
Fees And Expenses
Management fee 0.60% of lower of NAV and Market Cap
Identifiers
ISIN GG00BXDZMK63
Bloomberg UKML LN
SEDOL BXDZMK6
Parties
Auditor Deloitte LLP
Registrar Computershare Invtestor Services (Guernsey) Limited
AIFM Maitland Institutional Services Limited
Corporate Broker Numis Securities Ltd
Fund Administrator Northern Trust International Fund Administration Services (Guernsey) Ltd

Available Share Classes

Share class Currency ISIN Distrib. Type Launch date Management fee
Ordinary Share Class GBP GG00BXDZMK63 Dist 7 Jul 2015 0.60%
Document Date EN
Factsheets & Commentaries
Factsheet Sep 2020
KID
KID Dec 2019
Legal Documents
Sales Prospectus Jun 2015
UKML Circular Announcement Nov 2020
Financial Reports
Annual Report Jun 2020
Semi-Annual Report Dec 2019