Hastings High Yield Fund
Performance
Results for the half-year ended 31 December 2008
| Summary Income Statement | Variance
(%) | Half year to 31 Dec 2008 ($'000) | Half year to 31 Dec 2007 ($'000) |
| Interest income - investments Interest income - cash |
| 14,846 408 | 11,720 195 |
| Interest income - total | ↑ 28% | 15,254 | 11,915 |
| Interest expense - debt facility Fee income Realised & unrealised gains/(losses) |
| (2,616) 43 (4,001) | (2,812) 364 (466) |
| Net Income | ↓ 4% | 8,680 | 9,001 |
| Other expenses |
| (954) | (1,226) |
| Net Profit | ↓ 1% | 7,726 | 7,775 |
| Earnings (cents per unit) (1) | ↓ 16% | 7.03 | 8.40 |
| Earnings (cents per unit) (2) | ↑ 27% | 10.68 | 8.40 |
(1) based on net profit (including fair value adjustments applied to valuation margins) and weighted average units outstanding for the period
(2) based on net profit (excluding fair value adjustments applied to valuation margins) and weighted average units outstanding for the period
| Summary Balance Sheet | As at 31 Dec 2008 ($'000) ($ per unit) | As at 30 Jun 2008 ($'000) ($ per unit) | ||
| Fair value of high yield securities | 265,414 | 2.40 | 265,548 | 2.42 |
| Cash & cash equivalents | 13,042 | 0.12 | 15,919 | 0.14 |
| Debt facility | (70,010) | (0.63) | (70,283) | (0.64) |
| Distribution payable | (5,300) | (0.05) | (5,276) | (0.05) |
| Other | (418) | - | (968) | (0.01) |
| Net assets | 202,728 | 1.84 | 204,940 | 1.86 |
Information on distribution history and guidance is available in the HHY Investor Centre.
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