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Crystal Amber Fund NAV recovers in second half

By BFN News | 07:46 AM | Tuesday 11 September, 2012

Crystal Amber Fund's net asset value recovered strongly in the second half following excellent gains on the two largest holdings. The NAV per share stood at 105.59p at the end of June compared with 88.72p at the end of December and 109.01p a year ago. The company said there were excellent gains on the two largest holdings, TT Electronics and Renishaw, with additional gains on holdings of Devro, API Group and Tribal Group. And it said the PayPoint holding was sold realising a profit of £4.7m. Chairman William Collins said: "We have known from the outset that the activist path can be challenging. We are committed to meeting these challenges and delivering value for our shareholders. "We are encouraged by the performance of our biggest investments but well aware that more remains to be done elsewhere in the portfolio. "We welcome the increasing debate on the case for investor activism and on management and governance issues." Story provided by

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