Ress Life Investments A/S Half-Year Financial Performance Update
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Financial Highlights of Ress Life Investments A/S
The Board of Directors and the Management of Ress Life Investments A/S convened to review and formally approve the Half-Year Report for the period from January 1 to June 30. This report sheds light on the financial performance of the company and outlines its strategic outlook for the future.
Key Financial Results
For the reporting period, the company achieved a remarkable net profit of USD 10,822,544. This figure represents both net profit before and after tax, showcasing a solid return on equity of 3.1%. Further emphasizing this achievement, the earnings per share were established at USD 63.16, complemented by an increase in net asset value reaching USD 75.10 per share.
Factors Contributing to Profit
The profit recorded primarily stemmed from various policy maturities and the aging effect associated with these policies. This underscores the efficiency and effectiveness of the company's management in navigating its portfolio.
Investment Asset Valuation
As of June 30, the fair value of the Group’s investment assets noted a decline, sliding from USD 361,857,184 at the end of the previous year to USD 338,879,565. This reduction primarily arose due to redemptions. It's essential to monitor such shifts in asset valuation closely as they provide insight into market conditions and investment strategies.
Equity Position and Share Dynamics
The equity position of Ress Life Investments A/S as of June 30 stands at USD 344,416,069. This represents a strong net asset value of USD 2,512 per share, which is an improvement over the previous net asset value of USD 2,437 recorded at the end of December of the previous year. During this period, the issuance of 1,721 new ordinary shares reflects the company's continued growth efforts and responsiveness to market dynamics.
Outlook for Growth
Despite facing challenging conditions regarding the growth of the Fund’s assets under management, management retains a positive outlook. It observes the potential for the life settlements market to provide continued attractive and diversified returns in the medium term. The target net return for the Group is currently set at 7.0% in USD per annum, indicating confidence that the yield on underlying assets will meet this target.
Management Insights
The statement from management emphasizes an understanding of the complexities involved in achieving these financial targets amid broader economic conditions. Awareness of external macroeconomic influences remains critical, as these factors may significantly affect realized outcomes in comparison to prior projections.
Contact Information
For inquiries related to the Half-Year Report, interested parties can reach out to Resscapital AB, the Group’s AIF-manager, through Gustaf Hagerud at the telephone number (+46) 8 545 282 27. Additionally, communication can be directed to the Group’s Chairman, Søren Andersen, via email.
Frequently Asked Questions
What is the net profit for Ress Life Investments A/S in the first half of 2024?
The net profit for the first half of 2024 is USD 10,822,544.
How many new ordinary shares were issued during the reporting period?
1,721 new ordinary shares were issued in the period from January 1 to June 30, 2024.
What is the target net return for the Group?
The target net return for the Group is set at 7.0% in USD per annum.
What factors led to the decline in the fair value of investment assets?
The decline in fair value was primarily due to redemptions that occurred during the reporting period.
Who can I contact for more information about the report?
For further inquiries, you can contact Gustaf Hagerud at Resscapital AB at (+46) 8 545 282 27 or email Søren Andersen.
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