Caledonia Investments posts uptick in third quarter NAV

Self-managed investment trust Caledonia Investments reported an uptick in net asset value for the quarter ended 31 December.

NAV rose 2.8% to £1.60bn, while the NAV per share total return was 3.3%, bringing the year-to-date NAV to -0.6%.

The company pointed out that unquoted investments are revalued in March and September. As a result, the NAV at 31 December 2015 did not include any valuation adjustments to unquoted investments in the past three months.

Investments in the period totalled £185.6m, including £92.3m for 98.9% of Gala Bingo and a further £11.6m for US-listed helicopter operator Bristow Group.

Realisations during the period came to £131.1m, including £34.1m for Caledonia’s holding in UK property company Quintain Estates, on its acquisition by a US private equity fund, further distributions of £23.1m from the Capital Today China fund on continuing sales of part of its holding in JD.com, and proceeds from the sale of its holding in the Ocean Dial Gateway to India fund.

At 1504 GMT, Caledonia shares were down 1.2% to 2,326.76p.