LONDON (Alliance News) - Kubera Cross-Border Fund Ltd Thursday said its net asset value fell to USD0.54 per share from USD0.82 per share over the course of 2013, with the investment manager remaining focused on realising the remaining portfolio.
The aggregate of shareholder distributions to date amount to USD 0.87 per share.
Kubera, which in June 2013 distributed USD3.29 million or USD0.03 per share, pro rata to shareholders, said its consolidated net investment loss for the year was USD28.3 million. The investment manager said it is hopeful that the portfolio will be fully realized in the next two to three years.
Consolidated realized loss on investment in securities for the year of USD34.7 million, while consolidated unrealized gain on investments in securities for the year was USD6.43 million.
Kubera Cross-Border Fund Limited is a closed-end investment company incorporated in the Cayman Islands and traded on the AIM market of the London Stock Exchange. The Fund makes private equity investments in cross-border companies, primarily in businesses that operate in the US-India corridor.
The fund is managed by Kubera Partners.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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