20th Jun 2016 08:41
LONDON (Alliance News) - London-listed JZ Capital Partners Ltd on Monday said its net asset value rose in the three months to the end of May, its financial first quarter, on the back of valuation uplifts across its underlying portfolio.
JZ said its net asset value at the end of May was USD866.0 million, up from the USD852.0 million recorded for the three month period to the end of February. JZ posted a net asset value per share of USD10.32 for the recently ended period, up from USD10.15 the prior period.
Its total net asset value return per share, including the dividend, was 3.2%, it said, driven primarily by valuation increases within its healthcare revenue cycle management investments and its Roebling property in Brooklyn, New York.
JZ reported a valuation uplift for the period of around 4.8% before expenses, with the US micro-cap portfolio up 13 cents, the European micro-cap portfolio up 6 cents and its real estate portfolio up 30 cents, all in terms of net asset value per share.
JZ said it invested USD44.0 million in the quarter, of which USD12.5 million went towards its purchase of a portfolio of properties in Miami and USD8.2 million was used to buy another building in Brooklyn.
Shares in JZ were untraded on Monday, having last traded at 393.75 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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