Crystal Amber’s NAV decreased 8.6 per cent over the year to 30 June 2016 to 153.79p (168.26p at 30 June 2015, 155.90p at 31 December 2015). Including the dividends paid, NAV total return per share over the twelve months ended 30 June 2016 was -5.6 per cent. The Fund declared interim dividends of 2.5p in both July 2015 and January 2016 in line with the dividend policy of 5p per year.
The impact on NAV of FTSE put options held in the year was -3.5 per cent. The main performance contributors were Dart (3.6 per cent of NAV), Pinewood (1.9 per cent), Hurricane (1.7 per cent) and FairFX (1.6 per cent). The main performance detractors were Johnston Press plc (-2.6 per cent), STV Group plc (“STV”) (-2.4 per cent) and Tribal Group plc (-1.7 per cent).
The Fund’s NAV per share recovered strongly following the market fallout on the back of the “Brexit” result of the EU referendum, with an increase of 23.5 per cent from 30 June 2016 to 31 August 2016 after providing for the interim dividend of 2.5p per share representing a NAV total return of 25.1 per cent in the two month period following the year end.
CRS : Crystal Amber perks up after year end