Barings Corporate Investors Holds April 2019 Board Meeting
Apr 24, 2019
The Board of Trustees of Barings Corporate Investors (the "Trust") met on April 24, 2019. The Trust also conducted its 2019 Annual Meeting of Shareholders.
The Trust’s Trustees determined that the Trust’s March 31, 2019 net asset value ("NAV") is $301,722,472 or $15.00 per share based on 20,120,306 shares outstanding. The Trust's March 31, 2018 NAV was $304,788,145 or $15.26 per share based on 19,975,363 shares outstanding. The Trust reported a NAV of $291,237,445 or $14.50 per share as of December 31, 2018, based on 20,082,869 shares outstanding. All figures other than December 31, 2018 figures are unaudited.
The Trust’s net investment income for the quarter ended March 31, 2019 was $6,291,539 or $0.31 per share, compared to $6,173,533 or $0.31 per share for the quarter ended March 31, 2018. For the previous year ended December 31, 2018, net investment income was $24,718,024 or $1.23 per share.
The Trust declared a quarterly dividend of 30 cents per share payable on May 17, 2019 to shareholders of record on May 6, 2019. The Trust had previously paid a 30 cent-per-share dividend for the preceding quarter. The Board of Trustees also approved the continuance of the Trust’s current Investment Services Contract with Barings LLC.
During the quarter ended March 31, 2019 net capital gains of $836,315 or $0.04 per share were realized by the Trust, compared to net capital gains of $4,756,310 or $0.24 per share for the quarter ended March 31, 2018. For the previous quarter ended December 31, 2018, net capital gains of $7,832,311 or $0.39 per share.
At the Annual Meeting, shareholders elected Robert E. Joyal as a Trustee for a two-year term and Susan B. Sweeney as a Trustee for a three-year term.
The market price of Barings Corporate Investors as of March 31, 2019 was $15.46, which equates to a 3.07% premium over the March 31, 2019 NAV per share. The Trust’s average quarter-end premium for the 3, 5 and 10-year periods was 4.80%, 6.94% and 11.95%, respectively.
Barings Corporate 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 ("MCI").
Barings is a $317+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.
*As of March 31, 2019
Per share amounts are rounded to the nearest cent.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
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Charlotte, NC 28202