Private Equity Holding AG: Net Asset Value as of July 31, 2023
Private Equity Holding AG
/ Key word(s): Net Asset Value
Zug, August 9, 2023
Net Asset Value as of July 31, 2023
As of July 31, 2023, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 152.59 (CHF 146.04), representing a change of -0.1% in EUR (-2.1% in CHF) since June 30, 2023.
PEH's performance in July was slightly negative. Positive valuation adjustments for several portfolio funds could not fully compensate the adverse FX movements and expenses through the reporting month. Positive portfolio adjustments were recorded for ALPHA CEE Opportunity IV, Mid Europa Fund IV and Pelion VI, which benefitted from share price increases of listed underlying investments, e.g., Kaspi, a Kazakhstani fintech firm, Allegro, a Polish online e-commerce platform and bill.com, a US-based company that provides automated, cloud-based software solutions for financial operations.
In July, the portfolio was cash-flow positive with total distributions amounting to EUR 3.7m. These included proceeds from the sale of a longstanding PEH direct co-investment as well as from Abry Heritage, distributing proceeds from the sale of Socius, a specialty wholesale insurance broker focusing on management and professional liability insurance.
In the reporting period, PEH completed a USD 3.0m commitment to Evolution Technology III, a venture fund with a focus on cybersecurity and enterprise software companies primarily in the United States, Europe and Israel.
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 2,503,925 as of July 31, 2023 (June 30, 2023: 2,503,925). 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 July 2023
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|End of News||EQS News Service|