High activity again despite rough market Q2 was a rather active quarter for NAXS. Gösta Lundgren stepped in as interim CEO and NAXS made a new commitment to JAB Consumer Partners – JCP V. NAXS also extended its investment in Mimir Industries. Five new investments were made by the underlying funds, and two exits were completed.
Valuation well below historical average and sector average NAXS currently offers exposure to 15 funds from nine different managers and eight direct investments. The discount to NAV currently stands at 25%, which is well above the historical average (2010-) of 16% and is close to historical peaks. This figure also stands out as high compared to our calculated sector average of 9%. The balance sheet is strong, and we believe the dividend yield is likely to stay at around 6% over the next few years, based on today’s valuation. Buybacks continue to remain an option following the recently renewed mandate.
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