Private Equity Holding AG: Net Asset Value as of January 31, 2022
EQS-NAV: Private Equity Holding AG
/ Key word(s): Net Asset Value
Zug, February 8, 2022
Net Asset Value as of January 31, 2022
As of January 31, 2022, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 147.57 (CHF 153.78), representing a change of -3.2% in EUR (-2.7% in CHF) since December 31, 2021.
PEH's portfolio performance was negative in January. Positive valuation adjustments in certain portfolio funds, i.a., Blossom I and Avista II could not compensate for the negative share price development of various direct and indirect underlying positions. The continuing correction of technology stocks and, in particular, online retailers in CEE, Russia and CIS due to geopolitical tensions were the key driver of the negative portfolio performance in the reporting period.
The portfolio was cash-flow negative with total distributions amounting to EUR 1.2m, a relatively low amount compared to previous months. PEH received noteworthy distributions from Abry ASF III from its total return swap investments and from Clarus Lifesciences III, distributing shares of ESSA Pharma, a clinical-stage pharmaceutical company focused on developing novel therapies for the treatment of prostate cancer.
The investment pipeline remained very busy into 2022 and several investments have been approved, such as a commitment to a private equity manager targeting buyouts at the lower end of the North American mid-market. Further details will be published following the closing of these commitments.
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 2,524,704 as of January 31, 2022 (December 31, 2021: 2,526,064). 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 Jan 2022
|Company:||Private Equity Holding AG|
|Listed:||SIX Swiss Exchange|
|End of News||EQS News Service|