MedicX Fund Reports Decrease In Net Asset Value In First Quarter

LONDON (Alliance News) - MedicX Fund Ltd on Friday said its net asset value per share declined marginally in the first quarter of its current financial year, despite the rise in portfolio value.

The company, which invests in UK healthcare properties, said its NAV per share declined slightly in the three months to the end of December 2018 to 80.9 pence from 81.0p reported at September 30.

The stock was trading 0.6% lower on Friday at 89.30p a share.

As at December 31, MedicX owned three properties under construction with a combined completed value of GBP18.4 million. The sites are located in Vale of Neath and Peterborough in the UK and in Rialto in the Republic of Ireland. The company said it expects construction on these three schemes to complete during 2019.

The aggregate total portfolio value at the end of Decement was GBP807.9 million, up from GBP806.7 million as at the end of September 2018.