Jade Road Investments Ltd assesses ‘exceptionally strong’ pipeline as part of new investment strategy

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The investment manager led the second of a three-phase investment strategy focused on exits, restructuring legacy assets and seeking investments in smaller, faster-growing companies

(,) Chairman John Crofts said the company’s portfolio had “weathered the pandemic storm” in the first half of the year as it continued to be repositioned by investment manager Harmony Capital.

Harmony Capital recently led the second of a three-phase investment strategy focused on exits, restructuring legacy assets and seeking investments in smaller, fast-growing companies at the initial public offering stage or before the IPO.

Crofts said the investment manager’s three-phase strategy is to rehabilitate legacy assets, such as Future Metal Holdings Limited (FMHL) and Meize Energy, to full or partial exit and reinvest the resulting cash in new assets. generators, by focusing on strong growth Asian SMEs in the health technology, medical technology and financial technology sectors.

“With Asian SMEs increasingly deprived of capital, Jade Road assesses an exceptionally strong portfolio of investment candidates who, with an emphasis on credit instruments such as secured debt or non-mandatory convertible bonds, will result in a well-constructed portfolio with close to downside protection over time.

“The Board of Directors believes that Jade Road’s new investment strategy is well positioned to build a solid foundation of exciting and income-generating assets for high-quality growth, driving long-term value for our shareholders. “

The consolidated net asset value (NAV) at June 30, 2021 was US $ 106.2 million (£ 76.8 million) compared to US $ 106.5 million at the end of December, with a slight decrease resulting from a decrease in liquidity to US $ 2.56 million from US $ 3.2 million.

Jade Road reported a net loss of US $ 0.27 million on total income of US $ 1.25 million for the first six months of the year, compared to US $ 0.7 million and US $ 1.2 million of US dollars a year ago. He said the driver of the loss was a finance charge of $ 0.26 million, mostly related to interest payments on the bonds.


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