The Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF” or the “Fund”) announced a quarterly distribution of N4.20 per Unit for the fourth quarter of 2018. This is the sixth consecutive quarterly distribution to be made by the Fund. With this quarterly distribution, the total cash distributions made by the Fund in the year ending December 2018 aggregated to N16.70 per Unit. This translates to a full year cash yield of 17.8%.
In Q4 2018, the weighted average interest rate for the Fund’s portfolio of infrastructure loans was 19.3%, which is c.470 basis points premium to the prevailing average yield on the 10-year FGN bond.
The NIDF continues to deliver on all its key investment objectives, as investors enjoy consistent, attractive and predictable real returns (above inflation), along with low volatility and principal preservation. Total returns for the year ending December 2018 was 22.2%. Since inception in June 2017, the Fund has delivered a total return of 42% (assuming distributions were reinvested).
Besides delivering attractive returns, the NIDF is also at the core of Nigeria’s economic transformation by adding to the country’s infrastructure stock, channeling institutional capital into productive assets, and supporting sustainable economic growth.
Qualification date for the 4Q18 distribution is on January 2, 2019 and payment date will be on January 4, 2019.
The Chapel Hill Denham Nigeria Infrastructure Debt Fund is the first and only infrastructure debt fund dedicated to and domiciled in Nigeria. The Fund is an Infrastructure Fund under the rules and regulations of the Securities & Exchange Commission, Nigeria and the National Pension Commission, Nigeria.
The Fund’s Units are listed on the FMDQ OTC Securities Exchange, Nigeria. The Fund has registered a programme for issuance of up to two billion Units with par value of N200 billion. NIDF is sponsored by Chapel Hill Denham and Chapel Hill Denham Management Limited is the Fund Manager of NIDF.