Hardman & Co Research: What Volta brings to investors

In this note, we highlight three things that Volta has brought to both UK and European investors since it listed on the UK stock market on 28 May 2015: i) it has given investors relatively high total returns; ii) it provides a higher ongoing income (and we briefly summarise recent reports on cash generation and strong dividend cover); and iii) Volta is uncorrelated to benchmark bonds, an alternative asset class that investors may have considered for income. While Volta's CLO investments may not be to every investor's taste, and there are risks (Volta marks to market, which is not adopted by all peers), these three traits are noteworthy.

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