(Alliance News) - Merian Chrysalis Investment Co Ltd on Friday said its performance deteriorated in the first half of its current financial year.
The investment company said net asset value per share as at March 31, was 108.65 pence compared to 113.3p reported at the end of September 2019 - a decrease of 4.2%.
Merian Chrysalis said the majority of its portfolio is trading well through the Covid-19 pandemic and it has made significant follow-on and scale-up investments, as well as a new position added via a EUR14.4 million investment in FinanceApp AG, a digital insurtech asset.
Since the end of March, the company said it has made a GBP20 million investment in Featurespace Ltd, a fraud detection firm.
"Despite considerable disruptions to equity markets and valuations, the company's portfolio of assets generally traded well throughout the period, and continues to do so," said Co-Portfolio Managers Richard Watts and Nick Williamson.
"We are encouraged with the strength of trading at a number of our key assets, helped by their tech-enabled business models. While the full ramifications of Covid-19 have yet to materialise, this bodes well for future performance," Watts and Williamson added.
Merian Chrysalis shares were trading 0.9% lower in London on Friday at 107.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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