AcenciA Debt Strategies
Termination of Coverage
6 January 2015
Edison Investment Research is terminating coverage on AcenciA Debt Strategies (ACD). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. MORE »
Performance continues, discount persists
25 June 2013
AcenciA Debt Strategies (ACD), a closed-ended investment company, provides exposure to a focused range of predominantly debt-oriented strategies, particularly distressed debt, via a portfolio of carefully selected hedge funds. Performance continues to be positive in 2013 (+6.4% January to May), as it has in every year except 2008, with low volatility compared with equities (S&P 500) or high-yield US debt. Continuation of the fund beyond 2014 will require unanimous support from shareholders, which appears unlikely. A closing of the c 12% discount to NAV over the next 19 months would alone equate to a c 7.8% share price annual return, with dividends targeted to add a further 4% pa. MORE »
