29th May 2018 10:19
LONDON (Alliance News) - Livermore Investments Group Ltd said Tuesday its net asset value per share increased by 11% in 2017, driven by a strong performance by its portfolios of senior secured loans and collateralised loan obligations.
The investment company said its net asset value per share rose to USD1.00 from 90 cents in 2016.
Livermore shares were trading 3.3% higher at 41.74 pence on Tuesday.
Interest and distribution income from Livermore's financial portfolio totalled USD28.0 million, up from USD26.3 million. Its total value was USD161.1 million on December 31, down from USD163.7 million, though within this the CLO portfolio grew to USD97.2 million from USD81.8 million.
For 2017, the company declared a 4 cents dividend per share, which was paid on February 23.
"Considering the strong liquidity position of Livermore, together with its strong foothold in the US CLO market as well as the robustness of its investment portfolio and the alignment of management's interests with those of its shareholders, management believes that the company is well positioned to benefit from current market conditions," it said.
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