Portland JSX posts largest loss at US$9.4m as fund future remains unclear

Portland JSX Ltd (PJX), the private equity fund that mirrors a larger fund controlled by businessman Michael Lee-Chin, recorded its largest annual loss since inception. Its performance reflected continued weakness in capital markets, which drove steep valuation declines across its investment portfolio, resulting in a US$9.4-million net loss for its year-end, more than double the year-earlier loss.