Tetragon Financial Group Limited Edison issues update on Tetragon Financial Group
August 10 2017 - 4:43AM
RNS Non-Regulatory
TIDMTFG
Tetragon Financial Group Limited
10 August 2017
London, UK, 10 August 2017
Edison issues update on Tetragon Financial Group (TFG)
Tetragon Financial Group (TFG) reported a 2.8% NAV total return
for H117, with positive contributions made by all asset classes in
the portfolio. Although below the target 10-15% range, annualised
return on equity for the half year of 7.2% was ahead of the 6.3%
achieved in 2016. Tetragon's share price total return was 7.4% for
the six months to end-June 2017, with the discount narrowing by
2.1pp to 36.4% over the period. Dividends continue their steady
progression, with the Q217 dividend increased by 4.5% from Q216 to
US$0.1750 per share, and Tetragon's 5.3% dividend yield ranks as
the second highest in the Flexible Investment sector.
Tetragon's share price discount to NAV has steadily contracted
since February 2016. The current 36.2% discount is narrower than
its 39.5% five-year average but is wider than its five-year low of
20.4%, leaving significant scope for the narrowing trend to
continue. Tetragon's 5.3% dividend yield ranks as second highest in
its Flexible Investment sector peer group, significantly ahead of
the 2.2% average.
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August 10, 2017 04:43 ET (08:43 GMT)
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