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LONDON (Alliance News) - 3i Group PLC on Thursday reported a rise in its net asset value during the third quarter of its financial year, driven by a strong performance of its private equity portfolio.
For the three months to the end of December, the FTSE 100 private equity investor posted net asset value per share up to 802 pence from 776p at the end of September, driven by good growth from non-food discount retailer Action, 3i Infrastructure PLC, mini pumps manufacturer Aspen Pumps, and travel agency Audley Travel.
Total return for the nine months to the end of 2018 was 13.9%.
Chief Executive Officer Simon Borrows said: "This was another good quarter for 3i, during a period of significant market volatility. Our Private Equity portfolio performed well, with Action, Aspen Pumps and Audley Travel generating good growth, and 3i Infrastructure continued its strong run."
He added: "Our balance sheet is well funded but we remain cautious about the pricing of private investments in the current environment and have continued to focus on bolt-on acquisitions. As we approach the close to our financial year we remain confident that our diversified portfolio is well positioned to deliver further good growth and withstand market turbulence in these uncertain political and economic times."
3i shares were trading up 0.9% at 851.75 pence each early Thursday.
