Alpha Strategic, which delivers hedge fund fee revenue to the public market, saw its revenue rise to GBP441,000 in the year ended 31 March 2010 from GBP342,000 at 31 March 2009.
This follows the announcement in July 2009 that Alpha Strategic had signed an agreement to access revenues from IKOS Asset Management’s G10 currency fund.
Net assets increased by 23 per cent to GBP3.2m from GBP2.6m in 2009.
Colin Barrow, chairman of the company, says the net asset figure would have been higher were it not for the requirement under IFRS for it to amortise the income guaranteed from the G10 Fund as it is received. This treatment served to both reduce net assets and widen the reported trading loss.
The company’s loss before tax was GBP497,000 compared with GBP136,000 in 2009.
