Funding Circle SME Income Fund to be Wound Down

The Funding Circle SME Income investment trust was launched in 2015 to invest in Funding Circle loans originated in the UK, US, Germany and the Netherlands; the FT is reporting that following a period of lower than expected returns the fund is being wound down in an orderly fashion and money will be returned to investors; the company said it intends to launch two new institutional funds to back loans on its platform – a UK private direct lending fund and a UK bond product. Source.