BMO Private Equity Trust PLC

Performance

5 year Fund performance chart

Source: Lipper. Basis: share price, percentage growth, bid to bid, net income reinvested.

Cumulative performance
1 month
Year to date
1 Year
3 Years
5 Years
NAV
N/A
23.8
56.1
77.8
119.4
Share price
-3.4
59.1
83.5
55.7
119.1
Standardised annual performance
2021
2020
2019
2018
2017
NAV
56.1
3.4
10.1
7.2
15.1
Share price
83.5
-21.8
8.6
6.2
32.5

Performance (%) as at 30.09.21

Past performance is not a guide to future performance.

Source: Lipper and BMO. Basis: Percentage growth, total return, bid to bid price with net income reinvested in sterling. Basis in accordance with the regulations of the Financial Conduct Authority.

Fund Manager Review​

As at 30 September 2021, the net assets of the Company were £434.8m, giving a Net Asset Value (‘NAV’) per share of 588.06p, which, taking into account dividends paid, gives a NAV total return for the first nine-month period of 2021 of 23.8%. At 30 September 2021 the Company had net debt of £7.3m. Outstanding undrawn commitments were £135.5m, including £24.7m to funds where the investment period has expired.

In the third quarter of 2021, four new commitments were made to funds, four new co-investments have been added and one secondary investment has been made.

The Company was very modestly geared at 30 September with just £7.3m of net debt. This has gone up slightly to c.£14m with new investments since. There is plenty of capacity for new investments and the recently made fund commitments together with the continuing flow of co-investment opportunity will act to increase gearing somewhat. The exceptional flow of realisations has meant that the Company has much lower gearing than was forecast at the start of the year. This provides very useful flexibility, especially for making secondary investments and co-investments which require immediate commitments of capital.

Past performance is not a guide to future performance and the value of your investments can go down as well as up. You can read the full quarterly review of the trust by viewing the factsheet here.

Investment Risks

The value of your investments and any income from them can go down as well as up and you may not get back the original amount invested. Changes in rates of exchange may also reduce the value of your investment. The fund invests in private equity funds, exposing the fund to the performance, liquidity and valuation issues of these funds. Such funds typically have high minimum investment levels and may restrict or suspend redemptions or repayment to investors. The asset value of these shares and its prospects may be more difficult to assess. Gearing is used for investment purposes to obtain, increase or reduce exposure to an asset, index or investment. The use of gearing can enhance returns to investors in a rising market, but if the market falls the losses may be greater.

Holdings

Holdings
% of net assets
Weird Fish
3.9%
Inflexion Strategic Partners
3.8%
Sigma
3.4%
Ashtead
2.8%
Coretrax
2.6%
STAXS
2.6%
August Equity Partners IV
2.5%
TWMA
2.4%
Ambio Holdings
2.3%
Volpi Capital
2.1%
Total
28.4%

30 September 2021

Dividend

How to invest

Invest with BMO

BMO offer a range of cost-effective savings plans designed to make it easy for you to invest in our range of funds.

Starting from £25 per month or a lump sum of £100, with the flexibility to start and stop contributions whenever you want.

There are no dealing charges on investments made online or through a monthly direct debit.

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Information in this section of the Website is directed solely at persons who are located in the UK and can be categorised as retail clients. Nothing on this website is, or is intended to be, an offer, advice, or an invitation, to buy or sell any investments. Please read our full terms and conditions and the relevant Key Information Documents (“KID”) before proceeding further with any investment product referred to on this website. This website is not suitable for everyone, and if you are at all unsure whether an investment product referenced on this website will meet your individual needs, please seek advice before proceeding further with such product.