Aberdeen Private Equity Fund Limited
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Investor Warning

Please be aware of scams that can affect investors.

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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.

Read the detailed Risk Warning
 

Past Performance

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

 
 

Daily Data

At close 20-Nov-2014

Sterling Shares
Price84.25p
NAV113.86p
Prem/-Disc-26.01%


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.

 

Aberdeen Private Equity Fund Limited, Annual Report for the Year Ended 31 March 2014
Alex Barr, Head of Private Equity Investments

In this webcast Alex Barr gives an update on a wide range of subjects including performance, a sector breakdown, the largest investments and an outlook for the Trust

Click here to listen to the presentation.

 

 

Manager's Monthly Report

September 2014

Portfolio News

During September there were twelveB revaluations of portfolio funds, which consisted of eight upward valuations and four downward valuations; the net effect was that the portfolio generated a total return in local currency terms which was 2.7%C up on the previous month.

The largest write-up came from Northzone VI LP, which continues to see strong performance, driven in part by the recent exit of Videoplaza (a leader in video advertising technology), which has been sold to a subsidiary of Telstra. Videoplaza has benefitted from strong market growth during Northzone’s investment, as media agencies are increasingly recommending their clients shift their TV ad budgets in favour of digital.

Other notable portfolio news includes the disposal of the Company’s interests in DFJ Athena LP and Pinebridge Latin America Partners II LP. Both interests were non-core holdings and the disposal aligns the portfolio more closely to the Manager’s current investment strategy.

Distributions

Distributions totalled $3.3 million in September, with the largest distribution coming from Thomas H Lee Parallel Fund VI LP ($2.3 million). The distribution from Thomas H Lee Parallel Fund VI LP related primarily to proceeds from the sale of Acosta, Inc. to The Carlyle Group. Acosta is a leading sales-andmarketing agency (SMA) in the U.S., providing outsourced services to the consumer packaged goods industry, and the investment by Thomas H Lee Parallel Fund VI LP has been reported as returning in excess of 3x invested cost. In addition, the Company received $2.2 million from its sale of DFJ Athena LP on the secondary market.

Calls

The Company paid calls of $0.6 million in September, the largest of these being a $0.3 million call from PineBrook Capital Partners LP to fund small follow-on investments in existing portfolio companies, all of which are focused on developing US oil and gas opportunities. As at 30 September 2014, uncalled commitments stood at $84.5m, or 41.9% of NAV and 154.0% of liquid resources.

Basis of valuation

Eleven revaluations were received during the month (ten funds and one direct co-investment), such that eight funds are now being valued based off 30 September 2014 statements. In addition, two realisations resulted from the portfolio sales of DFJ Athena LP and Pinebridge Latin America Partners II LP. The largest revaluation was for Northzone VI LP (+€2.3m), with other uplifts including GS Capital Partners VI LP (+$0.7m). The largest downward revaluation was for MatlinPatterson Global Opportunities Partners III LP (-$0.6m).