KAML: Strong Q3

THE latest quarterly return achieved by Kina Asset Management Limited (KAML) provides an 11% growth for the nine months of this year, The National reports.

Releasing the latest quarterly report, KAML chairman Sir Rabbie Namaliu said growth had been achieved in each quarter and in the September quarter the investment portfolio increased by K3.6 million, a gain of 9.84%.

The KAML portfolio has risen from K37.3 million last December to K41.05 million at the end of the September quarter.

Sir Rabbie revealed that KAML investment strategy had increased its targeted allocation and benchmarks on domestic equities to between 40% and 50% while international equities in Australia, Asia and other world markets were adjusted to a 50% to 60% range.

“The performance of the domestic-listed equities, international-listed equities and exchange-traded fund exceeded their respective benchmarks, while the global ex Australia performed below the benchmark, “Sir Rabbie said.

KAML generated an investment gain of K4.41 million for the nine-month period representing a return of 11%.

Sir Rabbie mentioned that KAML’s trading strategy continued to be positive and to take advantage of market gains.

“Unfortunately,  the global financial scene continues to have an adverse overarching impact on the regional markets, but despite the continuing dismal global economic instability and caution, local equities continue to provide sound investment opportunities,” he said.

“Our fund manager Kina Funds Management Ltd has been prudent in working consistently in line with our overall trading strategy with very impressive results.”

“The successful growth of PNG and Pacific-based companies has been responsible for the ongoing consistent growth.

“The increase in the portfolio was also attributable to the valuation gains of listed equities and dividend received.”

Sir Rabbie said that in the first-half of this year, PNG continued to experience high economic growth which was indicated by increased employment and the value of sales in the private sector.