23rd May 2019 12:28
LONDON (Alliance News) - BMO Private Equity Trust PLC said Thursday it saw a rise in its net asset value at the end of the first quarter of 2019, along with a narrowed loss.
The investment trust as at March 31, reported a net asset value per share of 381.01 pence, up from 349.24p the same date the year before, but down from 386.29p as at December 31.
BMO Private Equity's pretax loss for the quarter to the end of March was GBP1.3 million, narrowed from GBP3.3 million the year before due mainly to a narrowed loss on fair value investments at GBP1.7 million from GBP2.9 million.
The trust declared a quarterly dividend of 3.73 pence per share, up from 3.57p the prior year.
During the quarter BMO Private Equity made three new fund commitments and three new co-investments, totalling GBP15.5 million in new investments.
"There are clearly some 'headwinds' for investment ranging from the UK/EU Brexit impasse to trade tensions between the US and China, however these are factors which are incorporated by private equity investors into their long term investment plans and certainly do not deter our investment partners from their value creation activities nor should they discourage investors looking to participate in the output from their efforts by gaining exposure to our well diversified portfolio. At this early stage in the year we expect further growth for shareholders," said Investment Manager Hamish Mair.
Shares in BMO Private Equity Trust were down 0.9% at 330.00 pence on Thursday.
Related Shares:
BPET.L