10th Nov 2008 17:54
News Release
Guernsey, 10 November 2008
Princess NAV up 2.7% in October
The net asset value of Princess increased for the fifth consecutive month in October with a gain of 2.7% to EUR 9.78 per share. The revaluations of the underlying fund investments were on aggregate stable, with the majority of the underlying private equity portfolio company reports reflecting 30 June or 30 September valuations. However, the necessary IFRS adjustments made by Princess' Investment Advisor Partners Group, to reflect current public market prices, resulted in a net decrease of 2.4% of NAV. A key component of NAV performance in October was the appreciation of the US dollar against the Euro, which resulted in a positive impact of 5.8% on the NAV.
Urs Wietlisbach, a Director of Princess, comments: "We are pleased to see the persistently solid development of the Princess NAV. With the early adjustment of the product's hedging policy, the portfolio is able to fully capitalize on the rebound of the US dollar. In addition to that, Princess' broad diversification and maturity as well as the high quality of the partnerships within the product help to stabilize the NAV in market environments marked by persistently high levels of volatility."
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
Related Shares:
Partners Grp E