Chrysalis Investments Limited has announced a significant investment of approximately £4 million in Smart Pension Limited, in addition to a previous investment of approximately £2 million. This combined investment is expected to increase the Company's Net Asset Value per share by approximately 3.7p. Smart Pension Master Trust (SPMT) has experienced substantial growth, becoming the UK's third-largest master trust operator with 1.3 million members and nearly £5 billion of assets under management. The investment will be used to further accelerate growth, including through mergers and acquisitions, and support Smart's drive towards profitability.
The investment is expected to enhance Smart's position in the master trust and platform business, with significant progress towards break-even expected over 2024. The Company's liquidity, as of 5 March 2024, stands at £27.2 million, including a £13.6 million position in Wise plc. The co-portfolio managers expressed their delight in supporting Smart and its growth, emphasizing the potential for Smart to expand its master trust and platform business.
For further information, the Company has provided contact details for media inquiries and other relevant parties. The announcement also includes a disclaimer that the information regarding the Company's investments has been provided by the relevant underlying portfolio company and has not been independently verified. The information contained in the announcement is unaudited and will be available on the Company's website.
This investment signifies Chrysalis Investments Limited's continued support for Smart Pension Limited and its growth trajectory, reflecting the Company's strategic focus on backing promising businesses with significant potential for expansion and profitability.