3i European assets strong

Ben Southwood
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INVESTMENT firm 3i said yesterday that its European assets were delivering solid returns despite the difficult macroeconomic climate.

The firm’s European portfolio brought in £30.8m for the six months to September, a decrease of £6m on last year, mainly due to a lower divided from Anglian Water Group.

“European assets continue to perform well, while adverse macroeconomic conditions and foreign exchange movements continue to have a negative impact on the valuation of the 3i India Infrastructure Fund,” said chairman Peter Sedgwick.

As of Wednesday the firm had £169.7m in cash, up £25.5m from the last interim statement.