23rd Apr 2014 12:14
LONDON (Alliance News) - Ashmore Global Opportunities Ltd Wednesday said its target distribution level of 50% of its 2012-end net asset value remains in sight, despite no capital distributions being made in the first-quarter.
In a statement, Ashmore Global Opportunities, whose shareholders in March approved proposals to realise the Guernsey closed ended investment company's assets, said its NAV at the end of March was USD237.78 million. The NAV per share was USD6.10 for the dollar shares and GBP6.05 for the sterling shares.
There were no capital distributions in the quarter, but the investment manager said it believes the target distribution level of 50% of NAV, as recorded at the end of 2012, by the end of 2014 will be achieved. A number of potential exits are being discussed, according to the statement.
The dollar share class returned minus 1.77% over the first-quarter, driven by both mark to market valuations of publicly traded instruments and by one material mark down in the valuation of a private company.
The sterling shares returned minus 1.63%.
By Samuel Agini; [email protected]; @samuelagini
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