ALTIRA AG (FRA:A7A) Edison Investment Research Limited: Edison issues update on FinLab (A7A)
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Edison Investment Research Limited
London, UK, 25 September 2020 Edison issues update on FinLab (A7A) FinLab posted a strong NAV total return in H120 (+9.5%), driven by the solid share price performance of its only listed holding, Heliad Equity Partners (HEP). Moreover, HEP's partial exit from online broker flatex announced in July 2020 increases the likelihood of a higher management fee and potentially a performance fee in 2021 to be charged by Heliad Management, which is fully owned by FinLab. Meanwhile, FinLab's portfolio holding Authada attracted a new investor, Italian-listed TMT company Tinexta.
FinLab's NAV per share was €29.70 as of end-June 2020, relative to which the shares are trading at a 34% discount. HEP is trading at a discount of c 38% to its end-June 2020 NAV, with flatex remaining its major investment.
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1136935 25-Sep-2020