7th Sep 2018 11:22
LONDON (Alliance News) - Kubera Cross-Border Fund Ltd said Friday that its net asset value per share for the first half of 2018 decreased as the Indian rupee depreciated against the US dollar.
For the six months to June 30, the company's net asset value decreased to USD39.5 million from USD41.1 million at the end of December, with net asset value per share dipping to USD0.36 from USD0.37. The decrease was mainly attributable to the depreciation of the Indian rupee relative to the US dollar, the company explained.
Kubera recorded a net investment pretax loss of USD259,444 narrowed year-on-year compared to USD347,638, as it generated an investment income of USD42,235 up from USD2,280 a year prior and reduced expenses to USD301,679 from USD349,918.
The company did not declare an interim dividend in respect of the six-month period but said that it intends to "announce a further distribution to shareholders of a minimum of USD5 cents per share" in October.
Kubera shares were untraded at USD0.28 each on Friday.