Financial
Crystal Amber Fund Reports 2% NAV Growth in Recent Half, Outperforms Peer Group
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Crystal Amber Fund Limited (LSE:CRS) has reported a 2.4% increase in Net Asset Value (NAV) per share for the six-month period ending 31 December 2024, reaching 178.08p. The Fund outperformed its peer group, ranking first out of 20 similar funds in terms of returns over six months, one year, and five years.
According to Trustnet, Crystal Amber Fund generated returns of 5.4% over six months, 43.8% over one year, and an impressive 241.0% over five years. These figures significantly outpaced the average peer group returns of -6.7%, 7.2%, and 95.5%, respectively. The Fund also conducted a £1.4 million share buyback during the period at an average 43.3% discount to NAV, further enhancing asset value.
The Fund’s investment in Morphic Medical Inc. (MMI) has shown promising developments. With regulatory approval expected soon, the company has made substantial operational progress. Following a previous announcement on 13 January 2025, Crystal Amber Fund has received 194.4 million common shares in MMI, resulting from the conversion of $25.4 million in loan notes and $3 million in accrued interest.
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