(Alliance News) - Standard Life Private Equity Trust PLC on Wednesday said its net asset value declined slightly in its most recent half due to negative currency movements and dividend payments.
The company's NAV per share as at March 31 was down 0.8% to 426.7 pence from 430.2p on September 30.
Net realised gains and income from Standard Life Private Equity's portfolio contributed a 3.6% positive movement to NAV, with a 0.3% contribution from unrealised gains at constant exchange.
However, this was offset by a 2.5% deduction caused by negative exchange rate movements on the portfolio, as well as a 1.4% deduction resulting from dividends and a 0.8% deduction on other items, fees and costs.
The 4.7% in deductions against the 3.9% in additions during the six-month period resulted in the negative 0.8% performance overall.
Standard Life Private Equity declared a second-quarter dividend of 3.2p per share for the year to September 2019, raising the total for the year so far by 3.2% to 6.4p from 6.2p per share.
"The outlook for the global private equity market remains competitive, with significant amounts of funds being raised. Absent any major shocks, the manager expects the company to continue benefiting from strong levels of exit activity. Brexit notwithstanding, the company continues also to be exposed to other emerging risks within the global geopolitical space. The manager is alert to such emerging risks as part of its proactive research and coverage of the private equity market," said Standard Life Private Equity.
Shares in the trust were down 0.2% at 342.73 pence on Wednesday at mid day.
