KAML’s portfolio at K50.4m

 THE increasing interest of Kina Asset Management Ltd (KAML) in the Australian stock market has supported the company’s investment gains this year, chairman Sir Rabbie Namaliu says.

He said that was despite effects of implementation of new foreign exchange regulations

KAML made an investment gain of K1.3 million, representing 2.8 per cent increase from the beginning of the year, the company announced in its first quarter report.  

KAML’s portfolio grew by K2.4 million from K48 million at the end of last year to K50.4 million in the first quarter this year. 

Sir Rabbie said hefty gains in KAML’s financial sector stocks, coupled with a sturdy growth in property and infrastructure sectors stocks drove the rebound in performance.

He said KAML had taken up a strategic position in US dollars during the quarter, as it believed that recovery by the United States would support a stronger dollar. 

“KAML took various positions during the quarter to provide further diversification and to support long-term growth. This was achieved via rebalancing of existing portfolio to accrete gains from assets which it believed had a greater potential in current investment environment,” Sir Rabbie said.

Meanwhile, Monian Ltd completed their purchase of shares to bring their total shareholding to 25 per cent. 

The share purchase provided existing shareholders of KAML with liquidity as well as provided some additional investment funds for KAML to capitalise on opportunities as and when they arise.

Sir Rabbie said while it was slim pickings in the equities markets, KAML continued to capitalise on teeter of global markets through consistent review and monitoring of its investments.