|
Tetragon Financial Group Ltd on Monday cited high interest rates as it announced a net asset value total return that was lower than that of its comparator index. The Guernsey-based closed-ended investment company said net asset value per share rose 7.9% to $34.79 as at December 31 from $32.24 a year prior. NAV per share total return improved to 6.4% in 2023 from 1.0% in 2022, but underperformed against the FTSE All-Share index, which had a total return of 7.7% in 2023, up from 0.2% in 2022. Tetragon declared a final dividend of 11 US cents per share, bringing the total to an unchanged 44c. Return on equity improved to positive 5.5% from negative 0.8%. The company’s return on equity target is between 10% and 15%. Looking ahead, the company said: ‘The team believes the funds should be able to benefit from steadily recovering asset prices and easing interest rates in 2024.’ Tetragon shares closed flat at 755.30 pence each on Monday in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
