SLPE.L Regulatory News (SLPE)

London, UK, 28 January 2020

Edison issues review on Standard Life Private Equity Trust (SLPE)

Standard Life Private Equity Trust (SLPET) closed the year ending 30 September 2019 (FY19) with an above average volume of new commitments, with 11 new primary and secondary investments along with its first direct co-investment. Meanwhile, its distribution income (£138.1m) remained above its total drawdowns (£81.6m). SLPET recorded a 10.5% NAV total return in FY19, broadly in line with its performance since inception (10.2% pa), while being clearly ahead of the FTSE All-Share Index (2.7%). Subsequent sterling appreciation resulted in a NAV decline, with a c 5.4% one-year NAV TR as at end-December 2019.

For FY19, SPLET declared quarterly dividend payments of 3.2p per share (3.1p in FY18), which represents a 3.4% annualised yield and is aligned with its goal of retaining the real value of the total annual dividend. Due to the strong appreciation of sterling against other currencies between October and December (resulting in lower sterling NAV), the share discount narrowed post balance sheet date to 12.9%.

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