BMO Private Equity Trust PLC

Performance

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

-2.7

3.4

22.1

58.7

Share price

-8.0

-25.7

-21.8

-9.9

48.9

Standardised annual performance 2020 2019 2018 2017 2016
NAV

3.4

10.1

7.2

15.1

12.9

Share price

-21.8

8.6

6.2

32.5

24.7

Performance (%) as at 30.09.2020
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 2020, the net assets of the Company were £287.4m, giving a Net Asset Value (NAV) per share of 388.68p. Taking into account the dividend of 3.99p paid on 31 July the NAV total return for the quarter is +2.1%, and -2.7% for the nine months to 30 September 2020. At 30 September 2020 the Company had net debt of £67.9m and outstanding undrawn commitments of £133m including £14m to funds where the investment period has expired.

As is typical this valuation is largely based off 30 June valuations adjusted for cashflows, so this is arguably the first valuation in which the impact of the COVID-19 pandemic is reflected in all the underlying valuations. The Company has a well-diversified portfolio, which is not overly exposed to any one company or sector. At this stage, it appears that the portfolio as a whole is proving encouragingly resilient to the crisis.

No new commitments were made to funds or co-investments during the quarter, as we continue to pursue a cautious approach to new investments until the full impact of, and path to recovery from, the pandemic is clearer.

We therefore remain very confident that the Company is well placed to come through the crisis, and to continue to build long-term value for 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

Sigma

4.5%

Ambio Holdings

3.8%

Inflexion Strategic Partners

3.5%

Ashtead

3.4%

TWMA

3.1%

Dotmatics

3.0%

STAXS

2.8%

Volpi Capital I

2.8%

August Equity Partners IV

2.5%

Pet Network

2.5%

Total

31.7%

As at 30 September 2020

Dividend

How to invest

Invest with BMO

BMO offers a range of plans designed to meet different investment goals and help you make your money work harder.

As with all investments, you need to be comfortable that you may not get back the original amount invested.

Opening a BMO plan is easy. 

Choose your perfect plan.

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

   

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