7th Jul 2014 10:41
LONDON (Alliance News) - Self-managed investment trust Caledonia Investments PLC Monday said that it invested GBP73.6 million in the quarter ended June 30, including GBP26.8 million in two Asian public equity funds.
In a statement, the trust also said that it realised GBP148.3 million over the period, including GBP26.8 million through the sale of Oval, the UK insurance broker, GBP14.8 million for the sale of part of the company's holding Dewan Housing Finance, the Indian housing lender, and GBP13.3 million for the sale of Petroceltic International PLC, the Ireland-based international oil and gas exploration company.
Over the quarter, the trust's net asset value increased to GBP1.458 billion, from GBP1.446 billion on March 31, though on June 19 it reported a potential GBP46.0 million NAV increase, representing 83 pence per share. The potential NAV increase was raised due to the initial public offering of JD.com Inc in the wake of the Chinese online direct sales company's listing on NASDAQ. Caledonia Investments holds its interest in JD.com through its investment in the Capital Today China Growth Fund LP. The company will revise the valuation of the CTC Fund in its NAV at the half-year, in line with its policy for valuing externally managed funds.
Caledonia Investments shares were Monday quoted at 2,263.52 pence, down 0.7%.
By Samuel Agini; [email protected]; @samuelagini
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