J&T ARCH INVESTMENTS, a fund for qualified investors, is building on its record year 2023, when it became the largest fund by assets in the Czech Republic and Slovakia (the Fund’s assets at the end of 2023 totaled CZK 55.08 billion). It continues to grow. The crown-denominated growth share class appreciated by 4.52% to CZK 1.5714 per share in the first quarter of this year. The Fund’s euro-denominated growth class gained 3.98% to reach EUR 1.4265 per share. Over the past 12 months, the Fund has provided investors appreciation of 17.78% and 14.34%, respectively, for the crown- and euro-denominated growth share classes.
“In the first quarter, the J&T ARCH portfolio built on the record year 2023 in many respects and continued its very solid growth. As in the previous quarter, this was driven mainly by the revaluation of our largest investment, the J&T ALLIANCE fund, and in particular by its indirect investment in a 44% stake within the group Energetický a průmyslový holding (EPH). Growth in the value of the portfolio was driven also by increase in the market price of MONETA Money Bank (Moneta) shares and the revaluation of our recent investment in the BHP HOTELS fund. Also certainly worth noting is the successful exit of JTFG Fund I from the Consilium Education group at almost five times the invested capital. The largest transaction of the first quarter was an investment of EUR 100 million in EMMA ALPHA HOLDING, the private investment platform of Jiří Šmejc,” comments Adam Tomis, member of the Investment Committee of J&T ARCH, in discussing the results.
At the end of the first quarter, the dividend class also showed growth, with appreciation close to that of the growth class. The crown-denominated class appreciated by 4.53% to CZK 1,176.82, while the euro class rose by 4.00% to EUR 57.21. Over the past 12 months, the announced appreciation of the crown-denominated dividend class of investment shares was 17.68% and that of the euro-denominated dividend class was 14.42%. In light of these results, the general meeting resolved to pay a dividend of CZK 100.48 before tax per share for the crown-denominated dividend class and of EUR 3.55 before tax per share for the euro-denominated class. The record date is 28 June 2024, and the dividend will be paid in August.
Primary subscription of new investment shares in the first quarter totaled CZK 8.9 billion (approximately EUR 352 million) and the volume of the Fund’s assets under management as of 31 March 2024, after taking this quarter into account, reached CZK 67.16 billion (i.e., EUR 2.65 billion).