26th Nov 2019 09:53
(Alliance News) - Caledonia Investments PLC said Tuesday its net asset value rose in the first half of its financial year as its investment pools performed strongly, producing a positive total return.
As at September 30, the FTSE 250 investment trust said its net asset value per share rose by 4.2% to 3,712.0 pence, from 3,563.0p the same date the year before, while net assets increased by 3.9% to GBP2.08 billion from GBP2.00 billion.
Caledonia's net asset total return for the six month period was 4.9%, compared to 11% for the year ended March.
Caledonia's Quoted Pool, its portfolio of quoted company investments, posted a total return of 10%, through a strong performance of US holdings and a stronger US dollar. Meanwhile, the Income Pool - which is focused on company's that pay high dividends - returned 3.4%, benefiting from a slight rebound in UK markets.
The Funds Pool returned 11%, with gains from US and Asian private equity funds, as well as a stronger US dollar.
Finally, Caledonia Private Capital - rebranded from the Unquoted Pool on October 1 and focused on UK mid-market companies - made a total return of 1.1%, as trading across the portfolio was in line with expectations.
Caledonia Investments declared an interim dividend of 16.6p per share, up 3.1% from 16.1p the prior year.
"We are pleased with the performance of our Quoted and Funds pools and are encouraged by how the companies in the relatively young portfolio in our Private Capital business are trading. Markets remain volatile, but we are confident that we have invested in resilient businesses that will continue to add value for our shareholders," said Chief Executive Officer Will Wyatt.
Shares in Caledonia Investments - which is headquartered in London - were down 0.5% at 3,045.61p on Tuesday.
By Dayo Laniyan; [email protected]
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