14th Mar 2018 13:12
LONDON (Alliance News) - Net asset value moves during February were a result of dollar strength rather than a change in the local currency value of assets, according to a monthly review by QuotedData.One of the best performers in price terms, BP Marsh, said in early February it had seen a strong year of progress in the twelve months to the end of January, upping its dividend as a result.The company, which provides "niche" venture capital to early stage financial services businesses, increased its dividend by 1.00p to 4.76p per share. BP Marsh said the decision to increase its shareholder payout came after a strong year in which the company "continued to build momentum".Another top performer, Ashmore Global Opportunities, was quite thinly traded, QuotedData noted. "Its NAV move, like all the investment companies below it in the table, is the result of dollar strength over the month rather than any change in the local currency value of the underlying assets," said QuotedData.During the period, River & Mercantile Group said early in February that Portfolio Manager Philip Rodrigs had left subsidiary River & Mercantile Asset Management following an investigation into a professional conduct issue. Rodrigs was the lead manager of River & Mercantile UK Micro Cap, which was the worst performer in price terms during the month.The best performing trust in NAV terms in February, Baker Steel, said during the month that its largest investment, Polar Acquisition Ltd, had agreed to sell its 90% interest in Polar Silver Resources Ltd to Polymetal International PLC for USD72 million to be satisfied in Polymetal shares.The following were the best and worst performing London-listed investment companies in February 2018, according to QuotedData:
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