JZ Capital Partners Ltd on Thursday reported a weaker net asset value.
JZ Capital Partners shares fell 14% to 140.00 pence each on Thursday afternoon in London.
The investment company focused on US and European micro-cap companies and US real estate said its NAV per share as at August 31 fell to $4.04 per share from $4.06 at the end of February.
NAV total return over the six months to August 31 swung to negative 0.5% from positive 9.8% a year prior.
Looking ahead, Chair David Macfarlane said: ‘Our view of the outlook for the company remains substantially unchanged to that reported at year-end. The company is committed to delivering on the new investment policy and is well-positioned to weather potential financial pressures from an economic downturn or period of volatility in financial markets.’
He added that the board expects that ‘in due course’ it will return a significant amount of capital to shareholders.
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