UK - Electra's NAV drops 16% in H1

Chairman Brian Wilson has said that the firm's priority is to 'protect the existing portfolio', including providing additional funding where necessary. But new investment and asset sales are expected to remain at a low level until banking conditions stabilise: investments totalled £62m, down from £54m in the same period last year.

Electra recently wrote down its investment in business supplies group Vasanta by 95%, reducing the value of the investment by £18m.

The firm's trust is said to have £74m in cash and a £250m banking facility, of which £205m has already been drawn down. Its commitments to third party funds totalled £109m.

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