VSL

VSL posted a positive +0.64% return in March (positive both for loan revenue and for equity) but the share price has fallen yet further. VSL holds high interest secured loans and equity positions in mainly US Fintech/eCommerce companies. It’s fallen to the point where the entire Fintech/Ecommerce equity holdings could be wiped out and worth zero and there’s still 25% upside from the loans. Loans where VSL is Senior and Equity where VSL has preference.

A 44% discount where dividends and capital returns over the next 12 months alone should be a further 8p+16p = 24p.

On a simple returns basis that leaves you owed 16.5p a share, while the remaining NAV could be around 60p a share net assets…. a 72.5% discount to NAV.

With further capital, dividend returns, and equity holdings which might surprise to the upside, I reckon you could get to a <100% discount to NAV in due course.

The Oak Bloke

Disclaimer:

This is not advice

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It’s your hard earned, so only u can u can decide where to invest it, other people’s views can only inform so always best to DYOR before u come to any conclusion.