23rd Aug 2019 09:41
(Alliance News) - BMO Private Equity Trust PLC on Friday reported an improvement in its net asset value for the first half of 2019.
The stock was trading 0.1% lower on Friday in London at 305.32 pence a share.
The investment company reported NAV per share of 388.05p as at June 30, up from 356.17p on the same date last year and 386.29p at the end of 2018.
BMO paid two quarterly dividends in the six months to the end of June of 3.73p and 3.81p.
"The economic and political background has deteriorated over the last few months with a resolution to the Brexit impasse appearing no nearer and the threat of 'no deal', or something close to it, rising in probability. Both the UK and German economies appear to be at real risk of dipping into recession and similar trends are seen elsewhere in Europe," said Investment Manager Hamish Mair.
"There has been exit activity in every section of the portfolio and the mature element of the portfolio is expected to continue to yield a healthy flow of realisations in the second half of the year. There are some companies in the portfolio facing challenges, but the general picture is one of good progress and the broadly-based rise in valuations underlines this," added Mair.
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