- JZ Capital Partners said its net asset value per share fell by 2.0% in the first quarter compared the final quarter of the previous financial year.

The listed fund invests in US and European micro-cap companies and US real estate.

It invested $84.1m during the first quarter and realised $124.1m.

'We made good progress with our realization program at or above NAV during the period,' founder and investment adviser David Zalaznick said.

'The uplifts were again offset by pre-development and carrying costs in our real estate portfolio, but we expect these will decline going forward when we take in outside investors into the development projects.'

At 2:09pm: [LON:JZCP] JZ Capital Partners Ltd share price was -7p at 476p

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