By Dominic Chopping
STOCKHOLM--Investor AB on Friday reported a negative total shareholder return of 17% in the second quarter, compared with a positive return of 15% for the same period the previous year, as the value of its investments fell.
The investment firm said its net asset value a share fell to 177 Swedish kronor ($16.73) at the end of June from SEK201 at the end of March. On an adjusted basis, net asset value fell to SEK199 a share from SEK223.
The net loss attributable to shareholders for the second quarter was SEK65.49 billion, from a profit of SEK31.77 billion a year earlier.
Investor said that the value of its investments in EQT AB fell 26% on the quarter, caused by the sharp decline in the EQT share price.
"After many years with extraordinarily low interest rates and a favorable macro environment, we are likely entering a more challenging period," said Chief Executive Officer Johan Forssell.
Investor is the investment vehicle of Sweden's prominent Wallenberg family and owns stakes in some of the country's largest companies, including telecom giant Ericsson AB, home appliance manufacturer Electrolux AB and lender Skandinaviska Enskilda Banken AB.
Write to Dominic Chopping at email@example.com
(END) Dow Jones Newswires