The value of portfolio income at investment management company 3i rose 28.3 per cent to 68m pounds in the period from October 1st to February 4th compared to the corresponding period in the previous year, an interim management statement from the company has disclosed.
The FTSE 250 company, which focuses on infrastructure, private equity and debt management, further reported that its European portfolio had risen in value with income totalling £37m in the period.
The valuation of the company's holding in 3i India Infrastructure Fund was influenced by a number of factors, including the movement in the share price of Adani Power Limited and foreign exchange fluctuations.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
3i reported that over the period, Adani's share price increased by 6.7% and the Indian rupee appreciated by 1.7% against sterlinfg, resulting in foreign exchange gains for the company.
Peter Sedgwick, Chairman of 3i Infrastructure, said: "The European portfolio continues to perform well operationally and financially and to generate good levels of income. The company accrued income for the first time from Elenia during the period."
MF
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
