8th Oct 2008 17:05
News Release
Guernsey, 8 October 2008
Princess NAV up 1.0% in September
The net asset value of Princess showed a strong increase in September of 1.0% to EUR 9.52 per share, bringing the performance for the nine months ending 30 September to +2.1%. The largest contributor to Princess' net asset value was the strong rebound of the US dollar, which contributed +2.8% to Princess' NAV. Valuations of the underlying private equity portfolio companies were, in aggregate stable, confirming the general partners' confidence in the development of their investments or even positive in the case for certain direct investments. However, the publicly listed companies held by Princess valued according to IFRS to reflect fair market value had, in light of turbulent financial markets in recent weeks, overall a negative impact of 1.0% on the NAV. The listed private equity segment also experienced a decrease, resulting in an additional 0.5% negative effect on Princess' NAV. Operating and other income components represent the residual net movement in the NAV.
Urs Wietlisbach, a Director of Princess, comments: "The downward revision of the public companies within the Princess portfolio was expected given the market conditions in recent weeks. Our general partners' core focus is on long-term value-creation of their portfolio companies, through the development of strong financial fundamentals and operational improvements. We are pleased with Princess' NAV, as even in these currently tumultuous times we consider the portfolio to be both healthy and stable."
Princess will hold a conference call on 9 October 2008 at 9.30am BST in English and at 8.30am BST in German to update interested parties on the recent developments of the Princess portfolio. The information disclosed will refer to unaudited figures as at 30 September 2008. Dial-in details can be received on the Investor Relations section of www.princess-privateequity.net (Web cast & live events).
Date: Thursday, 9 October 2008
Time: English:
9:30-10:15am (Dublin, London)
10:30-11:15am (Zurich, Frankfurt)
German:
8:30-9:15am (Dublin, London)
9:30-10:15am (Zurich, Frankfurt)
Phone number: +44 207 107 0611 (from the UK)
+41 (0)91 610 5600 (from Continental Europe)
+1 (1) 866 291 4166 (from the US)
All lines will be open 10 minutes prior to the beginning of the conference call.
The presentation will be available under http://www.princess-privateequity.net/en/investor_relations/webcast_live-events.php?ml ahead of the conference call.
About Princess
Princess is an investment holding company founded in 1999 and domiciled in Guernsey that invests in private equity and private debt investments. The Company is advised in its investment activities by Partners Group AG, a global alternative asset management firm listed on the SWX Swiss Exchange (ticker symbol: PGHN) with over CHF 25 billion assets under management in private equity, private debt, private real estate, private infrastructure, absolute return strategies and listed alternatives. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Frankfurt Stock Exchange (ticker symbol: PEY1) and on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net
Contacts
Princess Private Equity Holding Limited:
Ken Ball
General Manager
Phone: +44 1481 730 946
princess@princess-privateequity.net
www.princess-privateequity.net
Registered Number: 35241
Media enquiries:
Partners Group AG
Dr. Cyrill Wipfli
Head Communications
Tel.: +41 41 768 85 71
www.partnersgroup.net
This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess Private Equity Holding Limited. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about, and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.
This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document.
Approved by Partners Group (UK) Ltd., authorised and regulated by the Financial Services Authority in the United Kingdom.
Related Shares:
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