Navigator Global assets under management down due to global downturn

Company News

by Anna Napoli

Navigator Global Investments (ASX:NGI) says increased volatility and the downturn in global asset markets over the December 2018 quarter has reduced its Assets Under Management due to slower than anticipated inflows and investment losses.

Meantime the company's management fee revenue for the second half of the 2019 year is expected to drop by about 10 per cent compared to the first half, but performance fee revenue is expected to be normal.

The funds manager says the first half 19 result has not been materially impacted and it expects to report earnings (EBITDA) of about US$20 million for the six months to December 2018.

Navigator says despite heightened market volatility its strategy performance began to normalize in the second half of December.

Shares in Navigator Global Investments (ASX:NGI) are trading 19.71 per cent lower at $3.38.





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