5th May 2015 09:08
LONDON (Alliance News) - Symphony International Holdings Ltd said Tuesday its net asset value rose 5.1% during the first quarter of 2015, due to improving share prices of portfolio companies.
The investment company said its net asset value excluding dividends as at end-March was USD741.7 million, up 5.1% from USD705.4 million at the end of 2014.
Symphony said that global geopolitical risks and ongoing economic headwinds may hit Asian economies in the short to medium term, but its outlook for the long-term is unchanged. It highlighted an economic union between several south-eastern Asian nations that is being finalised, which is expected to boost overall commerce in the region.
"We saw improved market sentiment during the first quarter of 2015 due to some positive geopolitical and macroeconomic developments. However there continues to be some risk aversion to emerging markets," said Director Anil Thadani in a statement. " We remain optimistic on incremental growth in the coming years as our portfolio companies continue to expand in the region."
Shares in Symphony International Holdings are trading up 0.6% at 0.815 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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