BMO Private Equity Trust PLC

Performance

Share price total return and NAV total return over 6 years

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
15.4
48.7
73.2
111.6
Share price
-0.2
39.1
38.1
38.8
115.6
Standardised annual performance
2021
2020
2019
2018
2017
NAV
48.7
2.9
13.1
3.8
17.7
Share price
38.1
-6.1
7.0
4.5
48.7

Performance (%) as at 30.06.2021

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 June 2021, the net assets of the Company were £408.5m, giving a Net Asset Value (‘NAV’) per share of 552.46p, which, taking into account dividends paid, gives a NAV total return for the first six-month period of 2021 of 15.4%. At 30 June 2021 the Company had net debt of £24.7m. Outstanding undrawn commitments were £110m, including £26m to funds where the investment period has expired. The £95m revolving credit facility and €25m term loan gives overall borrowing capacity of around £116m, depending on exchange rates, so there is plenty of headroom for new investments.

The Company’s portfolio has made an excellent start to 2021. The combination of the ongoing recovery from the pandemic and the strengthening confidence of private equity investors and company managers is providing a remarkably supportive background. Our investment partners have in general excelled themselves in achieving exits after a uniquely challenging period. New deal activity has also been substantial and much of this is focused on companies where technology plays a large part in the investment thesis. If this momentum is maintained in the second half, then there is a good prospect that 2021 will be another successful year for the Company and its Shareholders.

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
Dotmatics
9.7%
Inflexion Strategic Partners
3.7%
Sigma
3.7%
Coretrax
3.4%
Ashtead
2.8%
Ambio Holdings
2.7%
Aliante Equity 3
2.6%
August Equity Partners IV
2.6%
SEP V
2.6%
Huws Gray
2.4%
Total
36.4%

As at 31 March 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.

Invest with a broker

You can invest through your usual financial adviser, or through a wide range of companies.

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