23rd Oct 2018 08:45
LONDON (Alliance News) - Pantheon International PLC on Tuesday said its net asset value declined slightly in September as a result of foreign exchange, taxation and expenses.
As at September 30, the private equity investment trust's net asset value per share stood at 2,563.6 pence, a slip of 0.4% from its 2,572.9p NAV at the end of August.
The company's valuation gains in the period equated to an NAV increase of 1.2p per share, while investment income contributed a further 1.4p per share. However, this was offset by an 8.6p per share loss on foreign exchange and a further 3.3p per share drop due to expenses and taxes.
Pantheon International's private equity assets at the end of September totalled GBP1.36 billion, while net available cash balances came to GBP132 million.
The trust's unlisted 10-year note, which was issued October 2017, was outstanding at GBP109 million. Its cost and repayments are linked to a reference portfolio of Pantheon International's older funds.
Undrawn commitments to investments stood at GBP475 million at September end, and its two USD163.0 million and EUR59.8 million revolving credit facilities remained undrawn.
During the month, Pantheon International's portfolio generates GBP5.2 million of cash, with distributions of GBP16.5 million.
New commitments amounting to GBP13.7 million from three investments were also completed during September.
Shares in Pantheon International were down 0.4% at 2,081.20 pence per share on Tuesday morning.
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Pantheon International