Electra sees improved prospects

Private equity trust Electra lifted net asst value by 10.5% to 1,900p in the six months to March, up from 1,881p at end September."Electra has weathered the economic turbulence of the last 18 months. Prospects for our portfolio companies have improved and Electra Partners believes that attractive opportunities for investment will increase over the medium term. With its flexible investment mandate and £233m of available investment capacity Electra is in good shape," it added.Its investment outlay rose to £138m over the six months, which included £55.8m in BDR Thermea and a further £23.6m investment to fund a bolt-on acquisition by Premier Asset Management. New investments included £29.7m in Esure, the online motor insurer, and £9m in Kalle, the global manufacturer of artificial sausage casings and sponge cloths.Realisations totalled £75m, which included £40.6m in respect of Baxi and £17.1m, plus £3.2m as income from debt held by Credit Opportunities, Electra's senior debt vehicle.