LONDON (Alliance News) - Standard Life Private Equity Trust PLC on Monday said its net asset value per share declined slightly in its first quarter due to a reduction in the value of its unquoted portfolio.
The investment trust posted a net asset value of 428.2 pence per share on December 31, 0.5% below its net asset value per share of 430.2 on September 30.
The closing value of the company's unquoted portfolio - including 55 private equity fund interests - was GBP562.1 million at December 31, down from GBP574.7 million on September 30 from the same number of interests.
The total loss for the quarter was GBP6.5 million, which comprises an GBP11.4 million unrealised loss on a constant exchange basis and a GBP4.9 million gain on foreign exchange.
The company's net asset value total return for the three month period from October 1 to December 31 was 0.1%.
Standard Life Private Equity Trust made one new fund commitment, totalling EUR30.0 million, to Triton V and had outstanding commitments to its 55 private equity fund interests totalling GBP385.6 million at the end of 2018 versus GBP369.3 million at the end of September.
Around GBP60 million of the trust's existing outstanding commitments are not likely to be drawn. Its resources available for investment stood at GBP95.6 million at the end of its first quarter versus GBP86.5 million on September 30.
At present, the trust has an undrawn GBP80 million syndicated revolving credit facility that expires in December 2020.
On January 25, the company paid its final dividend for its year to September 30 of 3.1p per share. It has declared a first quarter dividend for its current year of 3.2p per share which will be paid April 26.
Shares in Standard Life Private Equity Trust were down 0.1% at 360.67 pence on Monday.
