SIHL : Symphony International Holdings benefits from performance of Minor International and IHH Healthcare
Symphony International Holding’s recent interims report an 11.7% rise in its NAV during the first half of 2014 (from US$1.1759 to US$1.3131). This is primarily due to strong price performance of its holdings in IHH Healthcare and Minor International. These added US$ 9.8m and US$ 89.9m to NAV respectively and, as at 30 June 2014, hospitality company Minor International accounted for 43.4% of SIHL’s NAV. Symphony made two new investments during the first half of 2014. The first was a structured transaction that provides a minimum return of 15% per annum and the second was an investment in the Wine Connection Group (pictured). Wine connections is a leading wine themed Food and beverage chain in South East Asia. It has over 50 outlets in Singapore and Thailand. Both new investments represents less than 2% of SIHL’s NAV.
Symphony International Holdings is a London listed investment company that invests in hospitality, healthcare and lifestyle businesses and develops luxury branded real estate in Asia. It seeks to offer investors exposure to rising disposable incomes and wealth in fast growing emerging economies. SIHL’s listed investments accounted for 65.0% of NAV as at 30 June 2014, whilst unlisted investments and ‘temporary investments’ accounted for 23.4% and 11.6% respectively.