STAR Active in Asset Management with Six Transactions
In recent weeks, STAR has been active in asset management, with six transactions involving the sale of SFBT shares. The transactions are detailed as follows:
- 27/03/2025: Sale of 125,529 shares at an average unit price of 11.904 TND,
- 04/2025: Sale of 100,333 shares at an average unit price of 11.800 TND,
- 30/04/2025: Sale of 9,667 shares at an average unit price of 11.900 TND,
- 05/05/2025: Sale of 19,998 shares at an average unit price of 11.900 TND,
- 12/05/2025: Sale of 135,000 shares at an average unit price of 11.900 TND,
- 14/05/2025: Sale of 9,001 shares at an average unit price of 11.900 TND,
In total, the insurance sector leader has sold 399,528 shares at a value of 4,744 MTND. This represents a significant capital gain, given that STAR has owned this stake for a long time. The company is one of the largest asset managers in Tunisia, with net assets of 1,112,770 MTND as of 2024. Its strong exposure to interest rate products (824,169 MTND), imposed by the investment catalog, means that portfolio income is affected by the decline in interest rates. To preserve profitability, taking advantage of the reservoir of latent capital gains in the equity portfolio is a logical step. This is a positive signal to shareholders, who should expect profit preservation for the current exercise, despite the global economic context.
As a reminder, this is only a small part of what the insurer can achieve. According to the 2024 financial statements, the fair value of shares and other variable income securities, excluding OPCVM units, amounts to 213,538 MTND, compared to an acquisition cost of 97,909 MTND.
