Oakley Capital Investments Ltd on Thursday said it delivered a ‘robust’ net asset value performance in the first half of 2023 as well as ‘one of the sector’s highest shareholder returns’.

OCI reported a NAV of 663 pence per share as at June 30 and a total NAV return per share of 0.5% in the first half of 2023. The company delivered a total shareholder return of 5.3% over the same period.

OCI is an investment company aiming to provide consistent, long-term returns in excess of the FTSE All-Share Index by investing in funds managed by Oakley Capital Ltd. The Oakley funds invest primarily in unquoted, profitable, pan-European businesses across four sectors: technology, consumer, education and business services.

Chair Caroline Foulger said she was ‘pleased’ with the ‘continued performance’ of the Oakley funds and its portfolio companies, saying this underpinned OCI’s ‘robust’ NAV in the first half of the year.

‘In contrast to the wider market, Oakley has remained active with a high level of investee company M&A and a meaningful realisation, the proceeds from which have significantly strengthened the OCI balance sheet. Most importantly OCI has delivered one of the sector’s highest shareholder returns over the last 12 months,’ she said.

Looking forward, OCI said the outlook for the global economy remains ‘uncertain’ but noted this presents not just a challenge but also an opportunity.

OCI Managing Partner Peter Dubens added: ‘The perceived negative impacts of macro-economic turbulence and intimidating new technologies like generative AI are dominating headlines, however we see significant opportunities ahead in both of these themes. The threats presented by both are undoubted. But entrepreneurs often thrive, and a partnership with Oakley is most valued, during periods of disruption to the established order.’

Shares in OCI were down 0.7% at 448.35 pence on Thursday morning in London.

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