Quest for Growth Quarterly update Q3 2020

Thanks to the listed equities in the portfolio, Quest for Growth performed well in the third quarter, with an increase in net asset value of 6%. Since the start of the year, the net asset value has increased despite the coronavirus crisis by 3.9%, to € 8.43, compared to € 8.12 at 31 December 2019. Over the first nine months of 2020 the fund recorded a profit of € 5.3 million (€ 0.32 per ordinary share), compared to a profit of € 7.9 million (€ 0.47 per ordinary share) over the first three quarters of 2019.

Despite the positive development of the underlying portfolio, the share price fell 6.8%, to € 5.50 on 30 June 2020, against € 5.90 at the end of 2019. The price discount compared with the net asset value increased further, reaching 34.8% at the end of the third quarter.