Standard Life Private Eqty Trst PLC Edison review: Standard Life Private Equity Trust
February 07 2018 - 5:38AM
RNS Non-Regulatory
TIDMSLPE
Standard Life Private Eqty Trst PLC
07 February 2018
London, UK, 7 February 2018
Edison issues review on Standard Life Private Equity Trust
(SLPE)
Standard Life Private Equity Trust (SLPET) takes a long-term,
conviction approach to fund selection, evidenced by its new primary
commitments in FY17 being made to private equity managers where
there was a strong existing relationship. NAV total returns have
been ahead of peers over three and five years, and share price
returns have noticeably outpaced NAV returns over one year. The
share price discount to NAV has narrowed markedly from c 36% in
early 2016 to c 14% currently, arguably due in part to the strength
of SLPET's underlying performance, as well as its revised dividend
policy, with improved and more frequent payouts scheduled. The
manager sees portfolio companies' earnings growth continuing to
drive value creation, with the maturity profile of SLPET's
portfolio suggesting further near-term upside potential from
prospective realisations.
SLPET's share price discount to NAV has narrowed markedly from
its five-year high of 36.3% in March 2016 to its current level of
14.2%, which is towards the lower end of the peer group range. The
total dividend was more than doubled to 12.0p for FY17 and the
board intends to pay four quarterly dividends of 3.1p for FY18.
Click here to view the full report.
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For more information please contact Edison:
Gavin Wood, +44 (0)20 3681 2503
Sarah Godfrey, +44 (0)20 3681 2519
Investmenttrusts@edisongroup.com
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