Volta Finance Limited Net Asset Value(s) as at 31 January 2026

Core Insights - Volta Finance Limited reported a net return of -1.3% for January 2026, underperforming compared to US High Yield bonds (+0.5%) and Euro High Yield bonds (+0.7) [4] - The company’s NAV as of January 31, 2026, was €256.0 million, equating to €7.00 per share [10] Performance and Market Context - The month saw increased trade policy tensions, particularly between the US and Europe, which affected market stability and raised protectionism concerns [5] - The Federal Reserve and European Central Bank maintained steady interest rates, emphasizing data dependence amid persistent inflation and slower growth [5] - Equity markets experienced volatility, with stocks declining mid-month due to tariff news before partially recovering [5] CLO Market Activity - The CLO market began the year actively, with the first US transaction pricing on January 9 and the first European transaction on January 15, which was earlier than the previous year [6] - Spreads tightened across the capital structure, with Euro AAAs starting at 127bps and closing at 124bps, while mezzanine tranches saw significant narrowing [6] - Secondary markets showed increased activity, particularly in single-B and Equity tranches, driven by strong investor demand [6] Portfolio Management - Portfolio Managers reset two CLOs, allowing Equity tranches to benefit from favorable arbitrage without requiring additional cash injections from Volta [7] - The company added approximately €4.5 million in new investments, including a US CLO Single-B tranche purchased at a discount [8] - Over the last six months, the fund generated about €20 million in interest proceeds, representing approximately 16% of December's NAV on an annualized basis [8] Performance Breakdown - Volta's CLO Equity tranches returned -3.5%, while CLO Debt tranches achieved a positive return of +0.9% [9]