Value Partners expects sharp profit drop

Business | 11 Jan 2019 6:24 pm

Value Partners (0806) is expected to see about HK$220 million net profit for the year ended December 31, 2018, declining 89 percent from HK$2,048 million in the previous year.

The expected decrease is mainly due to a reduction in performance fee income to HK$56 million from HK$2.57 billion in 2017, as returns for most of the relevant funds under management did not surpass their previous high watermark or benchmark as at December 31, 2018.

Nevertheless, despite the weakened market sentiment, a net inflow of assets under management for the in 2018 bolstered management fees, partially offsetting the drag from performance fees.

An absence of net fair value gains and realized gains of the seed capital investments and investments in its own funds. Net fair value gains and realized gains stood at HK$199 million for 2017 compared to a net loss in 2018 estimated at HK$170 million.

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