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MedicX Fund (MXF)

Business description

MedicX Fund is a specialist REIT, listed on the premium segment of the LSE, investing in primary healthcare infrastructure in the UK and the Republic of Ireland.

Q3 progress towards full year forecast

Update | Property | 01/08/2014

MedicX Fund has reported steady portfolio and rental growth in Q3 with no surprises. The fund offers a good yield (c 7%) generated from a broad portfolio of long-dated leases in primary care infrastructure with quasi-government underlying risk. Earnings growth and cover on the progressive dividend are benefitting through the balance of this year and next from the deployment of equity raised in October 2013 and reduced debt costs. Octopus Capital's agreed acquisition (subject to regulatory approval) of MedicX Group, owner of the Investment Adviser to the fund, should have little impact on the fund; existing management will remain in the same roles.

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Stock data

Market cap.£361.1m
Last close81.800p
High / Low (52 weeks)92.0p / 76.4p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A

Price performance

Relative *7.8(4.1)(12.6)

* % Relative to local index

Company news