The investment firm saw its portfolio net value decrease but said assets under management had risen by more than 50% during the 2019-2020 financial year.
The net value of assets held by UK-based investment firm Mercia Asset Management fell by an annual £15.8m ($19.7m) in the financial year ending March 31, 2020 amid the fallout from coronavirus.
Although turnover climbed by 19.4% to $15.8m year-on-year, Mercia shed a $21.7m post-tax loss compared with $3.9m profit the year before, equating to 6.4 cents per share.
Assets under management rose 58% during the period to $997m, a result largely down to growth at its third-party…
