GCP says ‘now attractive time to invest’ as net asset value picks up

Thursday, December 11, 2025

GCP Infrastructure Investments Ltd on Thursday announced an unchanged annual dividend as it posted a higher net asset value total return, with material policy support for infrastructure meaning that ‘now is an attractive time to invest.’

The firm is advised by Gravis Capital Management Ltd, the closed-ended investment company aiming to pay dividends and preserve capital from exposure to UK infrastructure debt and similar assets.

GCP said net asset value per share as at September 30 fell 3.6% to 101.40 pence from 105.22p a year prior.

NAV total return for the financial year ended September 30 was 3.1%, higher than 2.2% in financial 2024.

The company said: ‘The main factors driving asset valuations during the year included project specific factors, renewables generation and changes to discount rates applied by the company’s independent valuation agent.’

The dividend for financial 2025 was 7.0p, unchanged from a year ago.

Looking ahead, GCP said: ‘The recent UK autumn budget is unlikely to have a material impact on the company. Investors remain concerned by the UK’s long-term prospects and have generally been reducing allocations to long-duration UK exposure, which has impacted demand for the company’s shares.

‘The combination of interest rates and material policy support for infrastructure means now is an attractive time to invest, whilst maintaining an awareness of the political risks. The opportunity to lock-in attractive risk adjusted returns given the interest rate backdrop and invest early in some of the new sectors the UK government is supporting is something the company has done successfully during its 15 year life.’

GCP shares were 0.6% higher at 71.09 pence each on Thursday morning in London.

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