Chrysalis NAV drops 13% in Q4 but hopeful on IPOs

Four holdings

Chrysalis Investments' troubles continued into the final three months of 2022, as it experienced a further net asset value per share decline of 19.5 pence per share, or 13%, according to its latest trading update.

The £846.1m trust said the majority of the decline was due to the "movement in fair value" of four holdings with foreign exchange movements also adding to the fall. "Much of this was driven by the external valuer and the independent valuation committee's transition towards a more ‘market-based approach', and away from a ‘price of recent investment' approach, given the general market changes and time elapsed since the last funding round for these assets," the update published Wednesday (1 February) said. Chrysalis reduces performance fee In a statement at the end of November, th...