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
Franklin Templeton has announced it will close its Australian Core Plus Bond Fund, having changed two fixed income funds in its Brandywine range last week.
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
