Caledonia Investments delivers asset growth and positive returns

Caledonia Investments (LSE: CLDN) reported higher net asset value and positive returns for the first nine months of its financial year on Monday. The FTSE 250 investment trust said its net asset value rose to 5,180 pence per share on December 31, up from 4,943p at the same time last year.

Shares were unchanged at 3,535p.

Caledonia delivered a 3.6% total return on net asset value in the nine months through December, following 2.9% growth last year. All three of its investment pools – Public Companies, Private Capital and Funds – generated positive returns over the period.

The company credited “strong performance” from several of its holdings in public companies for the 6.8% return in that portfolio. Its private capital and funds pools returned 6.1% and 1.0%, respectively.

Sterling’s strength versus the dollar “adversely impacted” Caledonia’s performance. The trust reported higher net debt of £54 million on December 31, but said its liquidity “remains healthy”.