(Alliance News) - BBGI SICAV SA on Friday said its net asset value per share rose somewhat in the first half of 2019, which the company put down to its investment strategy.
The infrastructure investor's NAV per share rose to 136.2 pence at June 30 from 133.5p at December 30, which was attributed to "a variety of active asset management initiatives during the period".
Chair Colin Maltby said: "In following our proven investment strategy managing a high-quality, globally diversified portfolio of low-risk, availability-based infrastructure assets, we have generated a 10.8% increase in NAV to GBP858.1 million and an increase of 2.0% to 136.2p on a per-share basis.
"The company's portfolio continued to perform in line with expectations due to the sustainability of the long-term cash flows our portfolio's assets generate, and the security and predictability of the government or government-backed contracts that underpin them."
The firm has also declared a 3.50 pence per share dividend, up 3.7% from the 3.375p per share dividend paid the year before. For the whole year, BBGI SICAV is targeting a 7.00p per share dividend, also up 3.7% from 6.75p per share in 2018.
Looking ahead, the company intends to pursue a low-risk strategy and has an acquisition pipeline with particular focus on Europe and north America.
Shares in BBGI SICAV were down 0.5% at 156.74 pence in London on Friday morning.
BBGI Global Infrastructure (BBGI)