Global sharemarket weakness has led listed investment fund Barramundi into the red for its interim result.
The fund, run under the Fisher Funds umbrella, posted a loss of $7.7 million compared with $21.3 million in the previous corresponding period. Revenue was a deficit of $6.4 million compared to
$26 million, thanks to $7.86 million shaved off the value of its portfolio of Australian growth stocks. No dividend was declared.
The Barramundi portfolio held assets of $113.4 million on December 31, compared with $121.9 million on June 30, a drop of 7 per cent. Directors said its share price reflected the nervousness of the markets, closing the year on 87c. It closed yesterday at 64c, down one cent.
- NZPA
