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Chrysalis Investments net asset value falls but encouraged by Arm IPO

30th Oct 2023 10:25

(Alliance News) - Chrysalis Investments Ltd on Monday reported a slight decrease in net asset value but was optimistic in its outlook.

The London-based trust, which invests in technology and finance startups, said net asset value per share as at September 30 declined 1.6% to 134.65 pence from 136.86p on June 30. It also was down from 147.79p on September 30, 2022.

September 30 is the end of the financial year for Chrysalis Investments.

Co-portfolio managers Richard Watts and Nick Williamson said: "The NAV was broadly flat over the period, largely mirroring the performance of key equity markets. Notwithstanding this, the initial public offering market continued to show signs of life, with Arm listing in the US towards the back end of the quarter."

The listing of Arm Holdings PLC on Nasdaq in New York in September was the largest IPO of 2023 so far, with shares jumping 25% on their debut. It gave Arm a market value of USD68 billion. Arm's market capitalisation currently is about USD50 billion.

Looking ahead, Chrysalis Investments said it remains optimistic, noting "some signs of life" in private markets and an indication that investor risk appetite is recovering.

Chrysalis Investments shares were up 1.7% to 53.80 pence each on Monday morning in London.

By Tom Budszus, Alliance News reporter

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