Edison review on Standard Life Private Equity Trst

RNS Number : 3743E
Standard Life Private Eqty Trst PLC
05 November 2020
 

 

London, UK, 5 November 2020

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

Standard Life Private Equity Trust (SLPET) recently reported a rebound in its NAV upon receiving the underlying valuations from its general partners (GPs) as at end-June, which brought its 12-month NAV total return to end-September 2020 to a positive 4.0%. Following the upsizing of its credit facility to £200m and the £61.9m in distributions received (vs £78.6m of capital calls in the period), SLPET's commitments coverage ratio was a solid 49% at end September 2020. This is not adjusted for the £15.3m expected deferred consideration and £67.1m of commitments it considers unlikely to be called.

 

Following the recent NAV update (with the portfolio now valued as at end-June 2020), SLPET's discount stands at c 34% and is much wider than its 10-year average of c 23% and the current peer group average (c 27%). The company has so far paid three interim dividends of 3.3p each, translating into an annualised yield of 4.2%. 


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