EQUITY PORTFOLIO
Astoria hikes its net asset value 12%
Astoria’s board deems the investment company’s performance ‘satisfactory’ in light of strongly performing equity markets
Astoria — which holds a basket of global investments — has increased its net asset value (NAV) 12% to $1.12 a share in the year to end-June. Astoria’s board deemed the investment company’s performance — best gauged by NAV — satisfactory in light of strongly performing equity markets. Astoria directors also reminded that the portfolio held a high cash balance (which produced a low positive yield) and that investments in unlisted private equity partnerships were still in the investment phase. They disclosed that the listed equity portfolio — excluding the strategic stake in JSE-listed Echo Polska Properties (EPP) — managed a return of almost 17% against the 11% of the MSCI World index. Astoria’s portfolio comprised 74% listed global equities (including EPP) and 5% in niche funds and private equity. The balance was held in fixed income and cash. The company’s 15 biggest equity holdings at the end of March were The Blackstone Group, Facebook, Tempur Sealy, Home Depot, Starbucks, Apple, ...
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