As at 30 June 2020, the net assets of the Company were £284.3m, giving a Net Asset Value (NAV) per share of 384.44p. This takes into account the dividend of 3.92p per share paid on 30 April 2020, and gives a decrease of 4.3% over the quarter. The decrease over the first half of the year is 4.7%. At 30 June 2020, the Company had net debt of £62.7m. Outstanding undrawn commitments were £140.6m, including £14m to funds where the investment period has expired.
This valuation includes the initial adjustments in value related to the COVID-19 pandemic and the ensuing lockdowns.
No new commitments to funds or to new co-investments were made in the second quarter. There were three re-financings of co-investments.
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.