Barings Participation Investors Holds April 2017 Board Meeting
April 21 2017 - 02:15PM
The Board of Trustees of Barings Participation Investors (the
"Trust") met on April 21, 2017. The Trust also conducted its
2017 Annual Meeting of Shareholders.
The Trust’s Trustees determined that the Trust’s
March 31, 2017 net asset value ("NAV") is $141,119,693.36 or $13.56
per share based on 10,404,497 shares outstanding. The Trust's
March 31, 2016 NAV was $138,443,220 or $13.39 per share based on
10,342,412 shares outstanding. The Trust reported a NAV of
$137,568,919 or $13.35 per share as of December 31, 2016, based on
10,301,085 shares outstanding. All figures other than December 31,
2016 figures are unaudited.
The Trust’s net investment income for the
quarter ended March 31, 2017 was $2,977,417 or $0.29 per share, of
which approximately $405,470 or $0.04 per share represented income
due to nonrecurring items, compared to $2,253,036 or $0.22 per
share for the quarter ended March 31, 2016. For the previous year
ended December 31, 2016, net investment income was $10,671,491 or
$1.04 per share.
The Trust declared a quarterly dividend of 27
cents per share payable on May 12, 2017 to shareholders of record
on April 28, 2017. The Trust had previously paid a 27
cent-per-share dividend for the preceding quarter. The
Board of Trustees also approved the continuance of the Trust’s
current Investment Advisory and Administrative Services Contract
with Barings LLC.
During the quarter ended March 31, 2017 net
capital gains of $333,072 or $0.03 per share were realized by the
Trust, compared to net capital losses of $369,989 or $0.04 per
share for the quarter ended March 31, 2016. For the previous
quarter ended December 31, 2016, net capital losses were $1,148,672
or $0.11 per share.
At the Annual Meeting, shareholders elected
Michael H. Brown, Barbara M. Ginader and Maleyne M. Syracuse as
Trustees for three-year terms.
The market price of Barings Participation
Investors as of March 31, 2017 was $14.20, which equates to a 3.98%
discount to the March 31, 2017 NAV per share. The Trust’s
average quarter-end premium for the 3, 5 and 10-year periods was
0.93%, 6.89% and 7.06%, respectively.
Barings Participation Investors is a closed-end
management investment company advised by Barings LLC. Its
shares are traded on the New York Stock Exchange under the trading
symbol ("MPV").
Per share amounts are rounded to the nearest
cent.
Cautionary Notice: Certain statements contained
in this press release may be "forward looking" statements.
Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date on
which they are made and which reflect management’s current
estimates, projections, expectations or beliefs, and which are
subject to risks and uncertainties that may cause actual results to
differ materially. These statements are subject to change at
any time based upon economic, market or other conditions and may
not be relied upon as investment advice or an indication of the
fund's trading intent. References to specific securities are
not recommendations of such securities, and may not be
representative of the fund's current or future investments.
We undertake no obligation to publicly update forward looking
statements, whether as a result of new information, future events,
or otherwise.
About Barings LLCBarings is
a $280+ billion* global asset management firm dedicated to meeting
the evolving investment and capital needs of our clients. We build
lasting partnerships that leverage our distinctive expertise across
traditional and alternative asset classes to deliver innovative
solutions and exceptional service. A member of the MassMutual
Financial Group, Barings maintains a strong global presence with
over 1,700 employees and 600 investment professionals across 41
offices in 17 countries. Learn more at www.barings.com.
*As of March 31, 2017
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Brian Whelan, Head of Corporate Communications, 980.417.7700, brian.whelan@barings.com
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