Net Asset Value as of July 31, 2016
The Net Asset Value (intrinsic value) of one registered share of Private Equity Holding AG stood at EUR 75.78 (CHF 81.93) as of July 31, 2016. This represents a decrease of 3.4% (in EUR) since June 30, 2016. Adjusted for the distribution of CHF 2.75, which was paid out on July 14, 2016, this represents a decrease of 0.1% in EUR (-0.3% in CHF).
The enclosed monthly newsletter shows the development of the NAV and of the share price as well as certain balance sheet data and portfolio key figures.
Private Equity Holding AG (SIX: PEHN) offers investors the opportunity to invest, within a simple legal and tax optimised structure, in a broadly diversified and professionally managed private equity portfolio.
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 2,713,040 as of July 31, 2016 (June 30, 2016: 2,713,090). The calculations are prepared in accordance with International Financial Reporting Standards (IFRS) and pursuant to the guidelines of the European Venture Capital Association (EVCA). 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.