Navigator Global’s AUM Nudges to US$14.89 in March 2019 Quarter

Navigator Global Investments Limited (ASX: NGI) is the parent company of Lighthouse Investment Partners, LLC which manages alternative investments. The company’s focus is on the alternative investments and employees 145 people.

On 18th April 2019, the company released its quarterly update of AUM for the March 2019 quarter.

Commingled Funds: The AUM with the Lighthouse was reported at US$4.21 billion which is US$0.1 billion up from the previous quarter’s reported AUM of US$4.2 billion. The net outflows for the quarter were reported at US$0.15 billion whereas the performance of the fund increased the AUM by US$0.16 billion which offset the outflows fully and resulted in the net increase of US$0.01 billion. Net outflows include money received by Lighthouse for applications and redemptions effective 1st April 2019

MAS reported US$1.17 billion of AUM in the March quarter which is down by US$0.19 billion compared to the AUM of US$1.36 billion in the previous quarter. The net outflows for the quarter stood at US$0.22 billion, and the fund performance led to US$0.03 billion increase in AUM.

Single Investor Customised Solutions: Under this category, Lighthouse has shown a relatively good performance. The AUM increased by US$0.43 billion from US$6.62 billion in the previous quarter and reported at US$7.05 billion. The fund generated the net inflow of US$0.22 billion with a performance increase of US$0.21 billion.

MAS reported the AUM of US$2.46 billion which decreased by US$0.08 billion from the previously reported AUM of US$2.54. The fund had a total net outflow of US$0.14 billion in the March quarter with a US$0.06 billion of increase in AUM due to performance.

The total AUM of the company increased by US$0.17 billion from US$14.72 in December 2018 quarter to US$14.89 in March 2019 quarter.

On 15th April 2019, the company released an official statement stating Eley Griffiths Group Pty Limited had acquired 8,245,546 shares in the company with a voting power of 5.09% from 2nd February 2018 to 10th April 2019, making the Eley Griffiths a substantial shareholder of the company.

On 21st February 2019, the company announced an interim dividend for 2019 of US$0.08 which is equivalent to A$11.17 based on the exchange rate at the record date of 21st February 2019. The dividend has been paid in AUD on ordinary fully paid shares on 8th March 2019. The ex-date and the record date for the dividend were 20th February 2019 and 21st February 2019 respectively.

Financial Performance: In 1HFY19 results, the company recorded the highest EBITDA of US$20.1 million for the reporting period. Management fee revenue was up by 45% from 2HFY18 and stood at US$54.8 million. The global asset classes witnessed volatile during December quarter and that impacted AUM from investment performance. Net outflows for the reporting period stood at US$1.4 billion

The market capitalisation of the company is A$530.22 million. The 52-week high and low of the stock are A$6.24 and A$2.71 respectively. The stock traded 2.141% down at A$3.20 after making the day’s low of A$3.2 as of 18th April 2019 (AEST: 1:36 PM). In the last six months, the stock has delivered a negative return of 33.8% while the YTD return stands at negative 21.7%.


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