International private-equity investor SVG Capital saw a near-four per cent increase in its net asset value (NAV) during the third quarter, helped by the positive share-price movements of two of its three-largest investments.
The FTSE 250 firm said that NAV per share rose 3.5% to 497.2p per share in the three months to September 30th, taking the year-to-date NAV growth to 27.1%, which compares to just 14.6% growth for the FTSE All-Share index since the start of the year.
SVG's portfolio is dominated by Permira IV investments which accounts for 83% of the gross investment portfolio. Companies across this portfolio are said to have reported good revenue and earnings growth during the period.
Its three biggest investments are a £411m stake in German high-end brand Hugo Boss (37.4% of portfolio), a £210m holding in Japanese agrochemicals and pharmaceuticals firm Arysta LifeScience (19.1%) and a £150m interest in German broadcasting group ProSiebenSat (13.6%).
The company said it achieved a total return of 4.6% on the investment portfolio in the quarter, driven the gains from Hugo Boss and ProSiebenSat.
Gains were partly outweighed by negative foreign exchange
movements with the pound strengthening by 2.3% against the euro during the period.
However, it said that some of the Permira Europe III investments - 8.9% of the portfolio - have a "material exposure" to Southern Europe and were affected by consumer confidence and lower levels of spend in the region.
"The performance of the investment portfolio has continued to build on the positive momentum of the last few years delivering strong returns year-to-date."
The firm said it has a strong pipeline of potential investment opportunities and said it will continue to drive both short- and long-term returns for shareholders as it realises investments.
Symphony International said significant volatility in Asian financial markets continued during its third quarter however it said the long-term outlook remains unchanged.
Net asset value (NAV) at September 30th was $671.5m, a touch below June's $675.2m. NAV per share for the same period was $1.30 compared to $1.31.
"Continued volatility in financial markets may weigh on the value of Symphony's investments in the short to medium term, but the long-term outlook remains unchanged," the company said in a statement.
The group, which invests in consumer-related businesses, mostly in the healthcare, hospitality, and lifestyle sectors, said its investments will continue to benefit from the rise of the middle class in Asia, and ensuing growth and incomes across the region.
Chairman Anil Thadani said: "Concerns over tapering of quantitative easing during the third quarter negatively impacted Asian equities and currencies across the board, but we did see some recovery towards the end of the quarter."
"Ongoing volatility may impact our NAV, but we expect the operating performance of our portfolio companies to remain unaffected."