It said its previous guidance had been conservative because of the inherent uncertainty in the market.
“The exact amount of fees to be recognised pending the completion is normal valuation and accounting processes for the underlying assets (but) our prelimary estimate is that the additional performance fees will add approximately $4.5 million to EBITDA (earnings before interest, tax, depreciation and amortisation) for the half year,” the company said.
The company said it expected to release its results for the December half on February 21.
It also said the transaction to acquire the portfolio of minority investment holdings, which was approved by shareholders in November, was nearing settlement and was expected to be finalised before the end of January.
In a statement to the ASX, Navigator said its Lighthouse diversified fund generated a 5.69 per cent increase in December. Its Lighthouse Global Long/Short fund was up 6.1 per cent.
In November the company said its assets under management were lower than expected because of the turmoil created by the pandemic. Its profit guidance at the time was for an EBITDA of between $US22 million ($A28.34 million) and $US24 million.
Navigator shares jumped 6 per cent this morning to $1.85.Jump to next article