KAML: Q3 investment portfolio up

Business, Main Stories

KINA Asset Management Ltd (KAML) continues to post strong results, reporting positive growth in its investment portfolio for the third quarter of this year.
KAML investment portfolio increased 5.94%, or K2.43 million, to K43.22 million at the end of last month, from K40.89 million at the end of last year.
Chairman Sir Rabbie Namaliu said strategic investment in recovering international markets had assisted this positive performance, and strong gains made in many of the domestic equities and the exchange rate gain in the cash and equities portfolio.
“The performance results of the international equities, EFT and Global Fund portfolio have all exceeded their respective benchmarks,” Sir Rabbie said.
“KAML’s performance figures through to the September quarter of this year have been very positive for our shareholders, and continue to instill a strong confidence in the market and our forward strategies in the current economic environment,” he said.
In relation to the global economy, Sir Rabbie said there continued to be strong signs that a recovery was imminent.
He said KAML would continue to adopt proactive and responsible investment strategies designed to build upon its portfolio in the current economic climate.
“Importantly, we are continuing to see positive signs that, at least in many key sectors, the global economic downturn has been subdued and the world economy is slowly returning to a positive growth trend,” Sir Rabbie said.
 “Keeping this in mind, KAML is continuing to actively pursue strategic investment opportunities for the benefit of our shareholders,” he said.
Sir Rabbie said despite the global financial crisis, the domestic economy had continued to show positive signs of growth and investor confidence remained strong.
“Obviously the challenge is to ensure that KAML is strategically and financially well placed to take advantage of the growth opportunities which present themselves in the subsequent recovery process,” he said.
KAML shares last traded at K1.14.