Business
Portfolio Update
Portfolio Update.
About this update from Caledonia Investments Plc
[{"type":"text","content":"\n \n \n RNS Number : 0722T\n Caledonia Investments PLC\n 15 July 2020\n \n \n \n \n Caledonia Investments plc\n \n \n \n \n \n Portfolio update\n \n \n \n \n \n On 7 July 2020, Caledonia Investments plc (\"Caledonia\") announced its unaudited diluted net asset value per share (\"NAV\") as at 30 June 2020, calculated on a cum-income basis, of 3367p. This represented an increase of 5.4% over the previous quarter, before adjustment for the final dividend of 44.5p per share which, subject to shareholder approval at our forthcoming annual general meeting, is payable on 6 August 2020. This announcement provides a further update on trading, particularly within Caledonia's Private Capital portfolio, in light of the continued easing of government imposed restrictions in response to the Covid-19 pandemic.\n \n \n \n \n \n Summary\n \n \n \n \n \n The growth in NAV to 30 June was driven by the strong performance of the Quoted Equity pool, reflecting the recovery in global public equity markets since March and the construction of the portfolio, and some limited positive valuation movement for investments in the Funds pool. Businesses within the Private Capital portfolio are revalued biannually, with the next valuation review taking place on 30 September 2020. \n \n \n \n \n \n T\n he NAV reported at the end of March incorporated valuation adjustments to the unlisted assets in the Private Capital and Funds portfolios to take into account the potential impact of Covid-19 via the application of an additional discount where considered appropriate. The Covid-19 pandemic continues to evolve and, while its impact on some investee companies and fund holdings is becoming clearer, a degree of uncertainty remains. However, for investee companies operating in the consumer leisure sector in the UK and Channel Islands, the relaxation of government imposed restrictions is enabling a gradual re-opening.\n \n \n \n \n \n Liquidity remains strong, totaling £328m as at 30 June 2020, comprising £78m in cash and £250m of undrawn committed bank facilities. £137.5m of these facilities ...