Global Investments Q4 profit falls 35%

Singapore

MUTUAL fund company Global Investments Limited (GIL) recorded a net profit of $3 million for its fourth quarter ended Dec 31, 2013, down 35 per cent from $4.6 million a year ago. This was due to the impairment of an Australian mortgage-backed security.

Revenue for the quarter was $7.4 million, up from $6.3 million a year ago, due to increased interest and dividend income.