(Alliance News) - JZ Capital Partners Ltd on Thursday reported a weaker net asset value.
JZ Capital Partners shares fell 14% to 140.00 pence each on Thursday afternoon in London.
The investment company focused on US and European micro-cap companies and US real estate said its NAV per share as at August 31 fell to USD4.04 per share from USD4.06 at the end of February.
NAV total return over the six months to August 31 swung to negative 0.5% from positive 9.8% a year prior.
Looking ahead, Chair David Macfarlane said: "Our view of the outlook for the company remains substantially unchanged to that reported at year-end. The company is committed to delivering on the new investment policy and is well-positioned to weather potential financial pressures from an economic downturn or period of volatility in financial markets."
He added that the board expects that "in due course" it will return a significant amount of capital to shareholders.
By Tom Budszus, Alliance News reporter
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Jz Capital (JZCP)