27th Feb 2015 12:52
LONDON (Alliance News) - Alternative Asset Opportunities PCC Ltd, which aims to provide shareholders with capital returns by investing in US traded life interests, Friday said it will aim to hold policies to maturity but didn't rule out making sales when there is an opportunity to do so.
"The company holds a well-diversified portfolio of 75 lives (86 policies) with an average life insured age of 91.0 years. With USD132 million of death benefits, compared with a carrying value of USD45 million, combined with a strong liquidity position, the board intends to continue to hold policies to maturity, but will not ignore opportunities for policy sales on attractive terms," Chairman Charles Tracy said in a statement.
During the six months to the end of 2014, the company's net asset value to 47.6 pence per share from 44.7 pence per share. Allowing for the distribution of 2 pence, that equates to an increase of about 11%, the company said.
The company said it will distribute two pence per share to shareholders.
Alternative Asset Opportunities shares were down 1.6% at 44.91 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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