As­to­ria raises its NAV by 12% in 6 months

The Star Early Edition - - COMPANIES - Sandile Mchunu

IN­VEST­MENT com­pany As­to­ria In­vest­ments said yes­ter­day that it had in­creased its net as­set value (NAV) by 12 per­cent in the six months to end June.

The group’s NAV per As­to­ria share was $1.12 (R14.46) at the end of June, up from the NAV of $1 a share at the end of De­cem­ber.

The group’s re­sults are re­ported in the dol­lars. It said it was happy with its per­for­mance in the last six months.

“The board be­lieves that this is a sat­is­fac­tory out­come re­flect­ing the po­si­tion­ing of the com­pany’s as­sets in strongly per­form­ing eq­uity mar­kets, while not­ing both the high cash bal­ance which pro­duces a low but pos­i­tive yield, and the in­vest­ments in un­listed pri­vate eq­uity part­ner­ships which are in the in­vest­ment phase.

“To place this per­for­mance in con­text, the listed eq­uity port­fo­lio (ex­clud­ing the strate­gic stake in Echo Pol­ska Prop­er­ties – EPP) de­liv­ered a re­turn of 16.9 per­cent against the MSCI world in­dex of 11 per­cent,” the group said.

It said in the year ahead the big­gest driver for the group’s per­for­mance would be the di­rec­tion of global de­vel­oped eq­uity mar­kets.

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