19th Apr 2018 15:00
LONDON (Alliance News) - APQ Global Ltd on Thursday proposed a dividend of 1.5 pence per share for the first quarter of 2018, leaving it on track to meet its targeted annual dividend yield of 6%.
The investment company said that, during the three months to the end of March, it decreased its exposure to equities and shifted more into rates.
At the end of the period, funds remained fully deployed except for cash it retained for collateral and working capital.
At the end of the quarter, the bulk of APQ Global's exposure was in credit and government bonds, it said, making up 66% of book value, followed by equity exposure.
APQ Global maintained its main investment in City of London Investment Group PLC, which represents around 4.7% of its overall book value.
The company said noted its largest emerging markets equity positions are concentrated in Asia, due to its bullish view on the region’s growth potential.
APQ Global said it "believes that the global economic growth outlook will continue to be supportive of commodity markets and that Asian stocks offer compelling value."
Shares in APQ Global were untraded at 95.00 pence per share on Thursday.
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