(P) Assets & profit boost for Romania’s EVERGENT Investments as it eyes more green energy investments
The third quarter of 2021 brought about solid increases across its main indicators for Romanian investment company EVERGENT Investments.
The company has increased the value of its assets under management to EUR 525 million (RON 2.6 billion) at the end of September 2021, a growth of 8.3% since mid-year, the fund announced in its most recent report to the Bucharest Stock Exchange.
EVERGENT Investments also saw its net asset value per share soar by 7.8%, to RON 2.46 per share. Its high performing management brought about a gross yield of 35% for the financial and energy blue chips portfolio for the first 9 months of 2021. Most of the fund’s assets – 67% - are listed shares, while 12.9% of its assets are fund units and 8.7% are invested in monetary instruments. Some 8% of the assets are non-listed stocks - private equity portfolio.
EVERGENT Investments, which rebranded this year from SIF Moldova, has been investing mostly in the financial sector, energy, manufacturing, agribusiness, and real estate.
“Our investment strategy aims at generating long-term performance by investing in private equity projects – we have been increasing our exposure on real estate and agribusiness, as well as increasing the performance of our portfolio of listed blue chips,” said Claudiu Doroș, President and CEO of EVERGENT Investments.
The company now plans to search for investments in companies that provide technology for clean resources and green energy, in line with its commitments to the principles of Environmental, Social, and Corporate Governance.
In the first nine months of 2021, EVERGENT Investments posted a net result of EUR 36.7 million (RON 180.3 million), half of which from net profit and the other half as net gain from the sale of assets reflected in the retained earnings, accounting to treatment in accordance with IFRS 9.
The company ensures the liquidity of its share through a market-making contract with Raiffeisen CentroBank. EVERGENT Investments' strategy is based on allocating resources, so as to develop the company and ensure that the interests of its shareholders are met. Improving liquidity and reducing volatility is beneficial to EVERGENT Investments shareholders and creates opportunities for potential investors.
The company, with 25 years of experience on the capital market, manages diversified high-performance portfolios and have highly-experienced staff in various fields of activity.
In the past 10 years, a mix of resources, including specialists, but also capitals and strong procedures, have generated a long string of performances for EVERGENT Investments. Its strategy consists of consolidating and increasing its listed portfolio, which is its main income generator, while increasing its private equity investments – its main differentiator.
A high priority of the company has been rising the expectations of its shareholders through a mix of dividends of over EUR 150 million so far, and predictable buybacks for shareholders generating a return of 13.2% per year – dividends granted plus asset growth, in the last 10 years.
EVERGENT Investments’ portfolio strategy has led to the highest market capitalization – EUR 254 million / RON 1.24 billion to day – of all financial investment companies listed on the Bucharest Stock Exchange.
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