Private Equity Holding AG: Net Asset Value as of December 31, 2022
Private Equity Holding AG
/ Key word(s): Net Asset Value
Zug, January 10, 2023
Net Asset Value as of December 31, 2022
As of December 31, 2022, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 152.00 (CHF 150.18), representing a change of +0.9% in EUR (-3.7% in CHF) over the calendar year 2022, including the distribution of CHF 2 per share in June 2022. Over the last three years, PEH's NAV increased by 22.3% p.a. while the MSCI World Index (TR), a broad index of global listed equities, achieved a performance of 7.2% p.a (in EUR).
For the month of December, the portfolio performance was negative. While there have been positive valuation adjustments in some of PEH's direct co-investments, most notably Design Holding, a global high-end design group in the field of furniture and lighting, and certain portfolio funds, EUR 9.0 million of adverse FX movements and the share price development of various underlying positions such as Corsair and Roblox, an online game platform, outweighed these positive developments.
PEH received noteworthy distributions from ALPHA CEE Opportunity IV from the sale of the Polish waste management company Kom-Eko and from Investindustrial VI distributing proceeds from the partial realisation of Italcanditi, an Italian supplier of fruit-based ingredients and creams. Further, Highland Europe I distributed proceeds from its investment in Malwarebytes, a US-based Internet security company that specialises in protecting home computers, smartphones and companies from malware.
Private Equity Holding AG (SIX: PEHN) is a listed investment company for private equity investments. It offers institutional and private investors the opportunity to participate in a simple and tax-efficient manner in a diversified and professionally managed private equity portfolio with selective fund and direct investments.
Income from the portfolio is partially reinvested, as well as passed on to the shareholders as annual distributions. Private Equity Holding’s portfolio is managed by Alpha Associates, an independent Private Equity, Private Debt and Infrastructure investment manager based in Zurich.
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The basis of the Net Asset Value Calculation and Disclaimer
The number of outstanding shares used for calculation of the Net Asset Value per share amounted to 2,505,606 as of December 31, 2022 (November 30, 2022: 2,505,656). The calculations are prepared in accordance with International Financial Reporting Standards (IFRS) and pursuant to the guidelines of Invest Europe (formerly known as the European Venture Capital Association). The valuations of the fund investments are based on the most recent reported net asset values (NAVs) of the funds. In estimating the fair value of unquoted direct investments, Private Equity Holding AG considers the most appropriate market valuation techniques. The fair value of listed direct investments is the market value. The NAV of Private Equity Holding AG is calculated at the end of each month under a going concern assumption and usually published within six trading days after the cut-off date. The different reporting cut-off dates of the individual companies and funds in which participations are held can lead to short-term distortions and cause discrepancies between the published NAV and the actual total value of Private Equity Holding AG's net assets.
File: PEH NAV Flyer December 2022
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|End of News||EQS News Service|