Terra Capital has published interim figures covering the first half of 2014. Over that period the net asset value rose to $1.01 from $0.96 and the company also paid out a dividend – the total return on the net asset value was 8.6%.
The Chairman says the fund is now 73% invested. New investments made during the period included a short duration Ukrainian bond, assets in Qatar, Peru and Argentina (the latter through Terra Argentine Fund, managed by the manager – duplicate fees have been waived). The largest holding is now IRSA Inversiones y Representaciones SA – an Argentinian property company