17th Feb 2014 14:38
LONDON (Alliance News) - Baring Emerging Europe PLC Monday said it declined by less than its benchmark over the final three months of 2013, though it has seen a further decrease in net asset value since then.
In a statement, the company said its total return over the final three months of 2013 was negative 0.9% compared to a negative 3.6% return by the benchmark.
However, between December 31 and February 13, its net asset value fell to 746.60 pence from 819.59 pence.
The company participated in the IPO of the Russian consumer lender Tinkoff Credit Services.
The share price discount to net asset value at the end of 2013 was 10.2%, narrower than the 11.9% at the end of September. The narrowing has continued, reaching 8.9% on February 13.
By Samuel Agini; [email protected]; @samuelagini
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