American Equity ramps up private asset allocation to 22% of portfolio

Written by Adam Cadle

17/02/2023

American Equity has ramped up its private asset allocation to 22% with around $1.4bn sourced in Q4 2022, its latest financial figures have revealed.

During the quarter, investment asset purchases totalled $2.5bn and were made at an average rate of 6.81%.

Net investment income increased $25m from the comparable quarter of 2021 reflecting an increase in the average yield on investments resulting from the benefit of higher short-term interest rates on AEL’s floating rate portfolio, lower cash balances, and the increase in allocation to privately sourced assets.

A net loss of $29.4m was reported in Q4 2022, compared to a net income of $82.2m, for Q4 of 2021.

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