1st Oct 2013 08:40
LONDON (Alliance News) - Pantheon International Financial Participations PLC Tuesday said its net asset value increased over the year ended June 30, driven by gains in its portfolio.
Investment company Pantheon said its NAV per share grew by 12% to 1,331.9 pence over the past year, after its underlying assets' increased in value to the tune of 8.4%. Pantheon's NAV also benefited from foreign exchange rates and share buybacks, which added 3.6% and 1.2% to NAV per share, respectively.
Pantheon said it would consider further share buybacks until the discount of its share price to NAV per shares narrows from its current high level of 29%.
But Pantheon warned that the affect on its asset value arising from any end to quantitative easing by the US Federal Reserve, the Bank of England and the European Central Bank are unclear.
Richard Crowder, a director of a number of private equity fund-of-funds managed by the Pantheon Group, is set to retire at the company's annual general meeting.
Pantheon shares were quoted up 11.25 pence at 1,036.25p Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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