28th Feb 2019 11:54
LONDON (Alliance News) - Closed-ended investment company Tetragon Financial Group Ltd on Thursday reported a rise in net asset value for 2018, outperforming its benchmark.
At December 31, Tetragon's NAV per share stood at USD23.70 compared to USD22.13 the year before, a 7.1% increase.
Tetragon's fully diluted NAV per share saw a 6.6% in the 2018 to USD22.48 compared to USD21.08 at the end of 2017.
The company's net assets increased 10% in the same period to USD2.19 billion from USD1.99 billion.
Tetragon's total dividend for 2018 was increased by 2.9% to USD0.72 from USD0.70 distributed in 2017.
The investment company's NAV per share total return for 2018 was 10.3%. The MSCI ACWI Index total return lost 9.0% in the period and the FTSE All-Share Index shed 9.5%.
Tetragon reported growth in all but one of its portfolio companies in 2018, seeing growth in the other five.
Infrastructure asset manager - which is 10.5% of NAV - increased it assets by 52% in 2018 to GBP230.9 million.
Real estate investor GreenOak - 9.5% of NAV - saw its assets multiply to GBP208.5 million, from GBP69.6 million at the end of 2017.
The only drag to Tetragon's portfolio in 2018 was hedge fund Polygon - 2.5% of NAV - which saw assets decrease 1.6% to GBP55.1 million.
Tetragon shares were down 0.2% at USD12.42 on Thursday.
Related Shares:
Tetragon Fin