Photo Credit: Kina Asset Management Limited - Portfolio Allocation as at 31st May 2021
For the fiscal year ending December 31, 2020, Kina Asset Management Limited made a net profit of K3.3 million.
Shareholders benefited from a 6.2 per cent portfolio return in a market that has begun to recover from the significant drops saw in the first quarter of 2020.
As of December 31, 2020, the company's net assets were K78.3 million, up 5.5 per cent from the previous year.
With the world economy recuperating from the COVID-19 pandemic and the early-year financial market meltdown, Chairman Sir Rabbie Namaliu warned 2020 will be a difficult year for KAML shareholders.
Sir Rabbie stated that the firm has fared well in adverse market conditions and is well-positioned for the challenges that lay ahead.
The company's success in 2020, according to the study, reflects its strategic investment approach, which focuses on long-term holdings of top enterprises in PNG and Australia, delivering excellent returns in growing markets while reducing downside in more tough market situations.
The main components of the result were K5.2 million in capital losses due to declines in the values of most of the company's stock holdings.
Bank South Pacific (K0.3 million) and Credit Corp (K0.2 million) in PNG, as well as CSL (K0.2 million) and ResMed (K0.1 million) in Australia, were among the few corporations to declare increases.
Sir Rabbie stated that the business does not trade the securities that make up its portfolio since it is a long-term investment.
Kina Funds Management Limited, the company's investment manager, takes a long-term perspective of markets and investments and builds a portfolio appropriately.
Reference:
Post-Courier (10 June 2021). “KAML records K3.3M Profit”.
