The National Investor (TNI), an Abu Dhabi-based privately owned joint stock company, posted a net profit of Dh7.5 million ($2.04 million) for 2017 as against a net loss of Dh1.7 million in the previous year.

TNI generated consolidated operating revenues of Dh134 million (FY 2016: Dh153.5 million).

This improvement is primarily driven by stronger than expected trading gains that translated into 12 per cent net returns on TNI’s direct public equities investments, and rationalization of our overall general and administrative expenses. The positive performance was also fuelled by improved fee generating activities from the Asset Management business, which saw the UAE Blue Chip Fund outperform its benchmark, the S&P UAE Domestic Capped Index, by 4.1 per cent.

These results were achieved despite extremely challenging market conditions at a time when the Dubai Financial Market General Index (DFMGI) and the Abu Dhabi Securities Market General Index (ADSMI) fell by 4.6 per cent and 3.3 per cent respectively.

 Abdullah Mazrui, chairman of TNI, said: “Our fee generating businesses have proved to be resilient and we have significantly improved our financial stability during 2017. TNI’s balance sheet is robust and we continue to have healthy levels of liquidity. We have made a concerted effort during the year to streamline our balance sheet with a view to improving the return on assets and we have continued to strengthen the business model with a clear focus on improving our principal investments and private equity portfolios.” – TradeArabia News Service