Livermore Investments Group Ltd on Monday said it swung to an annual loss, and reported a decline in net asset value per share.

The investment company focused on fixed income instruments said it swung to a pretax loss of $24.2 million in 2022 from a profit of $24.8 million a year before. This was down to a $44.6 million hit from fair value changes of investments, swinging from a gain of $6.3 million in 2021.

Its net asset value per share at December 31 was $0.77 per share, down 28% to $1.07 per share a year prior.

The company did not declare a full-year dividend, unchanged from a year prior.

Looking ahead, although fixed income markets ‘fared poorly’ amid growing interest rates, Livermore said it is ‘well positioned’ to benefit from current conditions, noting its robust investment portfolio and strong liquidity position.

Shares in Livermore Investments were down 2.4% at 40.00 pence each in London on Monday morning.

Copyright 2023 Alliance News Ltd. All Rights Reserved.