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Oakley Capital Investments Ltd on Thursday said it underperformed against its benchmark as it was impacted by wider market movements and inflation.
Net asset value per share as at June 30 rises 17% to 629.9 pence from 538.3p as at December 31.
Net asset value of the investment vehicle grew to £1.12 billion at June 30 from £961.5 million at December 31.
NAV return grew by 17% in the first half, compared to 11% a year ago. Total shareholder return however was a negative 7% versus a growth of 28% a year ago, Oakley Capital said. The most recent period negative return of 7% underperformed against its benchmark, the FTSE All-Share, which returned negative 6%.
‘Share price was impacted by the wider market movements, inflationary threats and war in Ukraine,’ the company explained.
Oakley declared an interim dividend of 2.25 pence per share, unchanged from a year prior.
Citing economic uncertainty expected over the long-term, the company stated it ‘believe[s] this uncertainty is likely to drive deal flow, providing more exciting investment opportunities for Oakley following the healthy stream of transactions we saw during and immediately after the period, as companies and their founders look to partner with private equity in order to better navigate the economic downturn.’
Oakley Capital shares were 1.0% higher at 400.45 pence each in London on Thursday morning.
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