- Investment manager 3i reported a rise in first-quarter net assets underpinned by 'resilient' performance in its private equity despite the significant impact of the Covid-19 pandemic.

For the three months to 30 June 2020, net asset value per share rose to 858p from 804[ seen in at the end of March, and the total return grew 6.8%.

'Our private equity and infrastructure portfolios have been resilient and delivered strong earnings performance this quarter,' the company said.

3i infrastructure's share price rebounded well in the three months to 30 June 2020 closing at 292 pence, up from 247p seen in March, valuing 3i's 30% stake at £786m, up from £665m.

'We have continued to work remotely very effectively throughout the Covid-19 lockdowns across Northern Europe, Asia and the US. Our offices are now at different phases of a cautious re-opening as local conditions permit and in line with local regulations and guidance,' it added.

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