23rd May 2025 11:52
(Alliance News) - Livermore Investments Group Ltd on Friday said it well positioned to benefit from current market conditions as it reported "good success" with trading collateralised loan obligations in 2024.
The investment company focused on fixed income instruments reported pretax profit in 2024 of USD6.8 million, down 52% from USD14.1 million the previous year.
Interest and distribution income fell 6.4% to USD22.5 million from USD24.0 million, and its fair value losses on investments widened to USD9.6 million from USD6.7 million.
Operating expenses rose 67% to USD5.6 million from USD3.4 million.
The value of its financial portfolio at December 31 was USD112.1 million, down 12% from USD127.2 million. Invested total was USD78.3 million, falling 27% from USD107.0 million.
Cash rose 67% to USD33.8 million from USD20.2 million.
Net asset value per share increased by 2.5% to USD0.84 from USD0.82, and Livermore Investments did not declare a full-year dividend, unchanged from the prior year.
However, in September, it declared an interim dividend of USD0.0423, up 41% from USD0.03 the previous year.
Shares in Livermore Investments rose 0.7% to 51.88 pence each on Friday morning in London.
Livermore Investments said its investment in Fetcherr "continues to perform well", having gained larger clients which it said demonstrates its effectiveness.
Fetcherr is a "dynamic, high-frequency, generative pricing engine focused on the airline industry".
Livermore Investment said it expects Fetcherr to continue execution of its "large and growing pipeline".
The investment firm added that management had "good success" trading CLO BB and B rated tranches in 2024.
"Overall, the company continues to remain conservatively positioned, more so in light of growing geopolitical uncertainties and high equity and credit valuations especially in the US", said Livermore Investments.
"Considering the strong liquidity positions of Livermore, together with its strong foothold in the US CLO markets, management believes that the company is well positioned to navigate and benefit from current conditions", it added.
By Christopher Ward, Alliance News reporter
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