Caledonia Investments reports a net asset value total return of 1.4% in its final results on Thursday, or a net asset value total return of 6.3% when excluding the effect of foreign exchange.
The FTSE 250 firm said it saw positive returns from its quoted, unquoted and funds pools in the 12 months to 31 March, offset by a weak return from the income pool and the reversal of prior year currency gains.
It did maintain continued growth in dividends to shareholders, with a 4% increase in the annual dividend per share to 57p, making for the 51st consecutive year of increasing dividends.
A special dividend of 100p per share was also paid during the year, which was primarily responsible for the company's reduction in net asset value for the year.
The company's net assets were down 3.3% to £1.84bn, while its net asset value per share was off 3.2% to 3,285p.
A total of £307m was realised from the portfolio in the period, including the sale of The Sloane Club for £80m, while £217m of "disciplined investment" was made in new and follow-on opportunities.
Caledonia said it still had "significant capacity" to capitalise on market opportunities, with £208m net cash available and unutilised facilities of £250m at year-end.
"Caledonia's investment portfolio has delivered a resilient performance despite a return to volatile market conditions," said chief executive Will Wyatt.
"Whilst our portfolio was impacted by adverse foreign exchange
movements in the year, we benefited from the diversification that our broad global exposure provides."
Wyatt said the company's performance enabled it to increase the annual dividend by 4%, for a 51st year of increasing dividends.
"Following a strong year of successful realisations, we were pleased to reward shareholders with a 100p special dividend, paid in August 2017.
"Looking ahead, while we expect to see continued volatility in financial and commodity markets, Caledonia's portfolio is well positioned for long term capital and dividend growth."