Update: Q3 progress towards full year forecast
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.MedicX Fund is a closed-ended investment company and a U.K. Real Estate Investment Trust. Co. is the holding company of a number of subsidiaries. Co., together with its subsidiaries, is a primary healthcare infrastructure investor in purpose-built primary healthcare properties in the U.K. and Republic of Ireland. As of Sep 30 2017, Co. had 156 primary care properties across the U.K., including 151 completed properties and five properties under development. Octopus AIF Management Limited acts as Co.'s Alternative Investment Fund.
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