Northern Horizon Capital AS, the manager of Baltic Horizon Fund, approved a cash distribution of approximately 1.5% to its unit holders based on the second-quarter weighted average net asset value.

The distribution equals 1.8 euro cents per unit and roughly €1.2 million in total.

The company said the decreased distribution per unit compared to the previous quarter is attributable to the capital call at the end of the second quarter which is yet to be deployed. The first-quarter distribution was 2.3 cents per unit.

Unit holders as of Aug. 21 will receive the amount Aug. 24.