A portfolio of corporate loans with a yield to maturity of 17% to 18%, trading at a 6% discount to net asset value (NAV). Surely this is too good to be true? It seems not, for reasons that Peter Staelens, manager of the CVC Income & Growth Trust (LSE: CVCG), explains.
The trust, launched in 2013, has £220m of assets and two share classes, denominated in sterling