Net Asset Value(s)

RNS Number : 9754U

J.P. Morgan Private Equity Ltd

25 October 2010

 



J.P. MORGAN PRIVATE EQUITY LIMITED
ANNOUNCES 30 SEPTEMBER 2010 NAV

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GUERNSEY, 25 OCTOBER 2010 

J.P. Morgan Private Equity Limited ("JPEL" or the "Company") today announces its third quarter 2010 results.  

As at 30 September 2010, the Company's net asset value ("NAV") per US$ Equity Share was $1.29, representing an increase of 2.4% from 31 August 2010 and 0.4% from 30 June 2010.  

NAV per share for the Company's 2013 and 2015 ZDP Shares increased from 59.09p to 60.15p and from 55.33p to 56.50p, respectively, during the third quarter, representing gains of 1.8% and 2.1%, respectively, per share.

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About J.P. Morgan Private Equity Limited

J.P. Morgan Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL, JPEZ, JPZZ) designed primarily to invest in the global private equity market.  The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market.  On 17 August 2009, JPEL issued warrants free of subscription cost to shareholders on record.  The warrants are publicly traded on the London Stock Exchange under the symbol "JPWW."

As at 30 September 2010, the Ordinary Share Class net asset value does not differ on a basic or fully diluted basis. To date, Qualifying Bonus Issue Shareholders exercised 146,841 Warrants, representing Subscription Rights to subscribe for 146,841 US$ Equity Shares at a Subscription Price of US$1.35 per US$ Equity Share.

This is an estimated valuation of the net assets of the Company as at 30 September 2010. This valuation is for information purposes only and has not been verified by the Company or the Manager. This valuation includes the most recent information available from the Company's underlying private equity fund managers for their respective private equity portfolios. It is based on unaudited estimated valuations supplied by the administrators, managers or investment advisers of the Company's underlying investments. Whilst the Manager believes this information to be useful investor information, it is subject to material change and consequently no reliance should be placed as to its accuracy.  

Neither the Company nor the Manager accept any liability whatsoever in regard to this information. The only official valuation of the Company's portfolio is the valuation produced as at the last business day of each month and reported via RNS when released.

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THIS IS AN ESTIMATED VALUATION OF THE NET ASSETS OF THE COMPANY AS AT 30 SEPTEMBER 2010. THIS VALUATION IS FOR INFORMATION PURPOSES ONLY AND HAS NOT BEEN VERIFIED BY THE COMPANY OR THE MANAGER. THIS VALUATION INCLUDES THE MOST RECENT INFORMATION AVAILABLE FROM THE COMPANY'S UNDERLYING PRIVATE EQUITY FUND MANAGERS FOR THEIR RESPECTIVE PRIVATE EQUITY PORTFOLIOS. IT IS BASED ON UNAUDITED ESTIMATED VALUATIONS SUPPLIED BY THE ADMINISTRATORS, MANAGERS OR INVESTMENT ADVISERS OF THE COMPANY'S UNDERLYING INVESTMENTS. WHILST THE MANAGER BELIEVES THIS INFORMATION TO BE USEFUL INVESTOR INFORMATION, IT IS SUBJECT TO MATERIAL CHANGE AND CONSEQUENTLY NO RELIANCE SHOULD BE PLACED AS TO ITS ACCURACY.

NEITHER THE COMPANY NOR THE MANAGER ACCEPT ANY LIABILITY WHATSOEVER IN REGARD TO THIS INFORMATION. THE ONLY OFFICIAL VALUATION OF THE COMPANY'S PORTFOLIO IS THE VALUATION PRODUCED AS AT THE LAST BUSINESS DAY OF EACH MONTH AND REPORTED VIA RNS WHEN RELEASED.

 

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