TLI : Improved cash flow for Alternative Assets
Alternative Assets Opportunities – the cell company with one cell – US traded life interests – has announced results for the year ended 30 June 2014. The net asset value at the end of June was 44.7p – down from 48.5p the year before. US dollar weakness accounted for part of the fall. The company made a distribution to shareholders of 2p per share in August (having renegotiated its borrowing facilities with its debt provider, AIB).
Over the year 12 of the beneficiaries of its life policies died. $17.4m across 13 policies was linked to those lives. One more death has occurred since the year end, this was linked to a policy worth $2.5m.
The remaining portfolio relates to 78 people with an average age of 90.4 years and a life expectancy of 4.9 years (the fund carried out a detailed review during the year). Linked to these are 89 policies with a face value of $145.2m and a value at end June of $50.2m.