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Value Partners expects 89% YOY decline in FY'18 profit

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Value Partners expects 89% YOY decline in FY'18 profit

Hong Kong's Value Partners Group Ltd. expects to post an approximately 89% year-over-year decline in profit for the 2018 full year.

The company expects to report a consolidated profit attributable to equity holders of about HK$220 million, down from HK$2.05 billion in the prior-year period, according to a Jan. 11 release.

Value Partners attributed the expected decline to a drop in fee income to an estimated HK$56 million from HK$2.57 billion a year earlier, as returns for most of the relevant funds under management did not surpass their previous high watermark or benchmark as of the end of 2018.

The company also attributed the decline to an absence of net fair value gains and realized gains of the company's seed capital investments and investments in its own funds.