News Round Up

Salvus reports, New UK global growth fund, Aussie fund with a twist, a little trumpet blowing.

Tuesday, October 26th 2004, 6:04AM

Listed investment trust Salvus says it has produced a 1.5% increase in net asset value in the first 3 months since listing.

Its NAV is 96c versus a shareprice of 84c

The company hasn't disclosed the names of the 10 companies it has invested in, but it has revealed that it is only 20% invested. Two of the 10 companies are listed on the NZAX.

The manager says it is in the process of negotiating several private placings, both in listed and private companies that should lead to a much more substantially invested position in the next few months.

New UK listed investment coy
Another UK-listed investment company, Caledonia Investments, has applied to have its shares listed on the New Zealand Exchange.

Caledonia is a Global Growth investment trust which was established in 1928. It is a self-managed investment company and has a longer term investment horizon than most other investment trusts.

Its strategy is to invest in and actively manage significant stakes in both quoted and unquoted situations where it believes there to be good opportunities for building value.

Caledonia chief executive Tim Ingram says the company has a proven investment policy of capital growth over the medium to longer term, combined with a progressive dividend policy.

Aussie fund with a twist
Australian manager Perpetual has rolled out a closed end, capital protected fund which invests in Australian shares.

The fund varies from other protected funds in that it uses a tailored put option for protection.

It has a six year time horizon and will invest in 12 to 15 shares listed on the Australian Stock Exchange.

A bit of trumpet blowing
Tarawera Publishing Ltd has for the second year running being named as one of the fastest growing companies in New Zealand.

It is one of only 16 companies to reappear on the Deloittes/Unlimited Fast 50 index which was announced on Thursday night.

Tarawera Publishing produces Good Returns and ShareChat (www.sharechat.co.nz), along with four magazines including ASSET, The NZ Mortgage Mag, The NZ Property Mag and Adviser.

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