Alpha Growth PLC - London-based financial advisory specialising in 'longevity assets' such as life insurance - Says assets under control grew to USD340 million in the second quarter, up from USD300 million in the first quarter.
Notes recent acquisition, Providence Life Assurance Co, has increased its balance sheet assets to over USD308 million at the end of May, from the USD275 million previously reported. By the end of the second quarter, Black Oak Alpha Growth Fund has increased its assets to USD30 million from USD22 million at the start of 2021, with USD4.5 million added in the second quarter alone.
Agrees "strategic relationship" with tier-1 capital introducer Eaton Partners, to accelerate asset growth.
Executive Chair Gobind Sahney says: "We have enjoyed another very strong quarter of growth across our business and we are incredibly excited about some of the opportunities that the group has in the second half of this year.
"Despite Covid naturally delaying some decision making, we have achieved market leading growth and remain extremely confident in the prospects of the group."
Current stock price: 4.18 pence, up 6.5% on Monday morning
Year-to-date change: up 62%
By Scarlett Butler; scarlettbutler@alliancenews.com
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Alpha Growth (ALGW)