Management may possibly consider this to be some kind of (quite neat) re-investment into AREO of the fees received
from AREO (subsequently).
Not exact matches
-- While
AREO's price decline (
from EUR 0.0522 to EUR 0.02) may seem fairly irrelevant at this point, the company's share count is high & Argo (Group & funds) own a 73.9 % stake.
[And my Argo Real Estate Opportunities Fund (
AREO: LN) estimate was derived directly
from their published results].
Presumably one could find TAF's exposure to
AREO from the reports.
As the reported (net) receivable account in the balance sheet changed
from 4.3 to 3, we have to assume that somebody else than
AREO paid 1.3 back to ARGO?
The $ 0.4 mio is a reduction
from the $ 0.8 mio yr - end value of their Argo Real Estate Opportunities Fund (
AREO: LN) stake, which reflects the current EUR 0.03 share price].
The
AREO share price has fallen
from EUR 0.0522 to EUR 0.02, slashing the value of Argo's stake by about $ 0.5 m (to $ 0.3 m).
With no fresh info / figures
from Argo, I'll presume an unchanged value for TAF, a decline in their
AREO stake to $ 0.4 mio & an increase in AUM to $ 313 mio.