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Crystal Amber Fund net assets held back by performance of De La Rue, Northgate

By BFN News | 09:44 AM | Friday 13 September, 2019

Crystal Amber Fund reported a modest rise in net assets as growth was held back by the performance of De La Rue and Northgate. For the year ended 30 June, net asset value rose to £238.8m from @£238.1m a year earlier and increased to 249.12p from 244.62p a year earlier. Key contribution to net asset value performance was derived from Leaf Clean Energy company?s successful litigation against Invenergy Renewables, the company said. The company realised gains of £17.9m on Hurricane Energy and £3.7m in Equals Group following successful sales of investments in Boku. and NCC during the year, realising profits of £3.1m and £2.5m respectively. The main detractors to NAV growth were De La Rue, down 5.1%, STV Group down 2%, Northgate, down 1.4%, Cenkos, down 0.7% and Sutton Harbour, down 0.3%. 'In the coming year, the fund may opportunistically increase its cash balances and will continue to focus on activist opportunities that can generate attractive returns regardless of broader market conditions,' the company said. 'In the interim, the fund continues to follow its policy of purchasing put options to provide some protection against a significant market sell-off.' At 9:44am: (LON:CRS) Crystal Amber Fund Limited share price was -1.5p at 191p Story provided by

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