Aberdeen Private Equity Fund Limited
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NMPI Status

The company currently conducts its affairs so that securities issued by Aberdeen Private Equity Fund Limited can be recommended by IFAs to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.

The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because the company would qualify as an investment trust if the company were based in the UK.

 
 

Morningstar Ratings

Fund Rating

2 star Rating
 
 

Risk Warning

The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.

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Past Performance

Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.

 
 

Daily Data

At close 21-Aug-2014

Sterling Shares
Price79.00p
NAV108.43p
Prem/-Disc-27.14%


Source: Morningstar, NAV = Net Asset Value, excluding income.

 
 
 
 
 

Trust Details

Aberdeen Private Equity Fund Limited

Registered Office:
Ipes (Guernsey) Limited
1 Royal Plaza
Royal Avenue
St Peter Port
Guernsey GY1 2HL

Registered in Guernsey as an Investment Company Number 46192

 

Aberdeen Private Equity Fund Limited

Objective

To generate long-term capital gains.

About Aberdeen SVG

Aberdeen Private Equity Fund is managed by Aberdeen SVG. Aberdeen SVG is a strategic alliance between the FTSE 100 asset manager, Aberdeen Asset Management PLC, and the FTSE 250 private equity investor, SVG Capital plc.

Aberdeen SVG is focused on providing investors with leading investment performance through tailored access to the private equity asset class. It employs over 40 professionals in one global team, across a broad range of complementary disciplines, offering ‘on the ground’ access to major private equity markets.

 

Manager's Monthly Report

June 2014

Portfolio News

During June, we received two valuation updates for portfolio funds, both of which were small movements on carrying value; as a result the portfolio generated a total return in local currency terms which was broadly flat on the prior period.

Distributions

Distributions totalled $3.8m in June, with the biggest distributions coming from Silver Lake Partners III LP and GS Capital Partners VI Offshore LP (both $1.1m).

The distribution from Silver Lake resulted from completion of the previously announced sale of Mercury to Vantiv, Inc., a leading provider of payment processing services, for an aggregate consideration of $1.65bn. The sale means Silver Lake has now more than doubled its money on this investment (with some smaller additional future payments relating to this investment also expected).

The distribution from GS Capital Partners VI Offshore LP, which makes minority investments in a range of private equity backed businesses, relates to a number of final and partial investment exits, including Brakes Group and Dollar General Corporation.

Calls

The Company paid calls of $1.5m in June, the largest of these being a $0.6m call to GS Capital Partners VI Offshore LP, as some of the distributions discussed above were recycled in order to fund acquisitions for existing portfolio companies. There were also material calls from Tenaya Capital V LP, Tenaya Capital VI LP and Pinebrook Capital Partners LP (all $0.2m each).

As at 30 June 2014, the Company’s uncalled commitment stood at $79.4m, or 40.4% of NAV and 225.4% of liquid resources.

Basis of valuation

Of the investments, 99% of the holdings are valued using 31 March 2013 statements (89% by number) with the remainder valued using December 2013. For the investments using March statements, two revaluations were received during the month (PineBridge Latin America Partners II LP and Resonant Music LP), both of which were small movements.