The net asset value per share of 3i Group has risen in Q3 of fiscal 2024, driven by value-for-money, private label, healthcare, and infrastructure investments. The company remains confident in its capital allocation strategies.
The net asset value per share of 3i Group, an international investment manager specializing in midmarket equity and infrastructure, has risen in the third quarter of fiscal 2024. As of December 31, the NAV per share reached 2,034 pence ($25.81), compared to 1,886 pence as of September 30. This increase includes a negative foreign exchange translation impact of GBP151 million or 16 pence per share.
The majority of 3i Group's portfolio consists of value-for-money, private label, healthcare, and infrastructure investments, which have shown resilience and contributed to the overall performance. The total value of the portfolio was GBP21.11 billion at the end of the period. However, outside of these sectors, performance has been more mixed.
In December, 3i Group received a dividend of GBP189 million from its largest investment, European discount retailer Action.
Despite macroeconomic conditions and global uncertainty affecting certain names within the portfolio, Chief Executive Simon Borrows remains confident in the company's capital allocation strategies. Borrows expects a strong return for 3i Group in this financial year.
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