18th Jun 2018 11:33
LONDON (Alliance News) - Standard Life Private Equity Trust PLC said on Monday it outperformed its comparative indices for the first half of its financial year.
The trust reported a net asset value total return of 7.4% for the six months to March 31. This compares to a negative 3.8% return from the FTSE All-Share Index and a negative 5.1% return from MSCI Europe Index.
Standard Life's net asset value per share as at the end of March was 390.4 pence, up from 389.6p as at September 30. Overall net assets stood at GBP600.2 million at the end of the period with a fund investment portfolio of GBP518.6 million.
The trust proposed an interim dividend of 6.2 pence per share, up from 6.0p the year before.
"Overall, the global private equity market remains competitive, with significant amounts of funds having been raised. The managers of many funds the company is invested in continue to report positive earnings growth across their investee companies," said Chairman Edmond Warner.
"In addition, the company continues to benefit from strong levels of exit activity across the portfolio and, in the absence of any major shocks, the manager expects this to continue over the course of the next year. Such exit activity should result in further realised and unrealised gains being generated, helping the company to build on the robust performance of recent years," Warner added.
Shares in Standard Life Private Equity Trust were down 0.9% at 335.00 pence on Monday.
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