18th Oct 2019 10:31
(Alliance News) - Emerging markets-focused investment firm APQ Global Ltd on Friday reported a third quarter decline in its book value per share and said it has increased its exposure to risky assets.
At September 30, book value per share stood at 87.59 US cents, or 71.08 pence. This would represent a 5.5% decrease from the 92.67 cents at June 30.
The stock was untraded in London on Friday morning, last quoted at 68.50p apiece.
APQ Global said: "The portfolio rebounded significantly in September with a return of 3.0%. During the quarter the company slightly increased its exposure to risk assets across the board, particularly equities and emerging markets currencies while maintaining a very healthy cash position (59.7% of book value)."
Looking ahead, the company said the medium-term global economic outlook will suit emerging market equities.
The firm added: "However, we remain conscious of the multitude of risks around the world and all the issues we identified last quarter remain in focus. The US-China trade war shows little signs of abating, the monetary policy outlook in the US and Europe increasingly points to a significant slowdown in the world economy going into next year and President Trump continues to throw the book at the post-war economic order."
APQ declared a flat quarterly dividend of 1.5p per share.
By Eric Cunha; [email protected]
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