Net Asset Value as of May 31, 2020
EQS Group-News: Private Equity Holding AG
/ Key word(s): Monthly Figures
Zug, June 9, 2020
Net Asset Value as of May 31, 2020
As of May 31, 2020, the Net Asset Value (NAV) per share of Private Equity Holding AG, stood at EUR 81.78 (CHF 87.46), representing a decrease of 6.4% in EUR (5.3% in CHF) since April 30, 2020.
PEH's portfolio performance was negatively affected in May by both weaker valuations of many portfolio funds as of March 31 (reported since the last NAV update) and a weaker USD against the EUR at month end. The overall negative performance was expected following the significant correction of public markets in February and March 2020; it is noteworthy, however, that there have been also positive surprises, notably in the case of certain technology funds and co-investments which proved to be resilient to COVID-19.
PEH received noteworthy distributions from Pelion IV distributing proceeds from the sale of a portion of a post IPO-holding in website-security company Cloudflare as well as from Investindustrial V from the sale of Canadian-based distribution business Polynt Composites Distribution out of Polynt-Reichhold Group, a leader in the North American specialty chemicals market. PEH also received a distribution from Warburg Pincus X from the sale of shares in a post-IPO holding of Silk Road Medical, a Californian-based developer of a novel endovascular medical device to treat carotid artery disease.
PEH will hold its Annual General Meeting on June 30, 2020, in Zug. Under the measures taken by the Swiss Federal Council currently in place, the personal attendance of shareholders at the Annual General Meeting on site is not possible. All shareholders have the option of providing the independent proxy with instructions via written or electronic proxy.
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.
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 2,589,713 as of Mai 31, 2020 (April 30, 2020: 2,592,633). 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 May 2020
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1066153|
|End of News||EQS Group News Service|