John Laing Infra Q1 portfolio value rises 1.9%
(ShareCast News) - John Laing Infrastructure Fund said its underlying portfolio value grew 1.9% in the first quarter to £1.2bn on a rebased value of £1.19bn and in line with expectations.
JLIF said the rebased portfolio value reflected cash received from investments during the period and the appreciation of sterling against the Euro, Canadian dollar and US dollar.
Net Asset Value (NAV) was £1.2bn, including £31.3m of cash allocated to the dividend to be paid in May 2017.
The NAV per share rose 2.7p to 122.9 pence due to underlying portfolio growth over the period, and the NAV accretive equity issuance in March 2017, JLIF added.
In a separate announcement , JLIF said Andrew Charlesworth, investment adviser at John Laing Capital Management (JLCM) would be leaving on May 26 to "pursue opportunities in the global infrastructure market".
JLCM has appointed David Hardy as the new lead investment adviser dedicated to JLIF, the company added.