NAOS posts 11 per cent growth in dividend
NAOS Absolute Opportunities Company (NAC) has declared its half-year results with $0.025 fully franked dividend which translated into an 11 per cent increase to the prior comparative period for the six-month period ended in December, 2016.
At the same time, the after tax profit stood at $2.1 million.
According to NAOS managing director and chief investment officer, Sebastian Evans, the portfolio produced a return of 22.73 per cent for the current year 2016, bringing the inception performance to 56.37 per cent.
The company also said it benefitted from improved liquidity and scale over the period, with 250 new shareholders, which coupled with strong portfolio performance and the options being fully exercised helped remove the significant share price discount to net tangible assets (NTA).
According to the company, it provides investors with exposure to quality undervalued mid-cap companies whilst ‘having the ability to selectively short overvalued lower quality companies', it said.
AUTHOR
Oksana Patron
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
