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F&C Private Equity NAV up

25 August 2017 08:12

F&C Private Equity Trust has reported a net asset value total return of 3.5% for the six months to the end of June following a further period of good investment performance.

Chairman Mark Tennant said: "In addition, with the share price discount having fallen to 3.9% at 30 June 2017 from 15.8% at 31 December 2016, the share price total return for the period is an impressive 18.2%.

"This compares to a total return of 5.5% for the FTSE All Share Index for the same period.

"As at 30 June 2017, the company had cash of £34.2 million.

"With borrowings of £25.9 million under the Company's loan facility, net cash was £8.3 million, equivalent to a gearing level of -3.2%.

"The total of outstanding undrawn commitments at 30 June 2017 was £126.7 million and, of this, approximately £17 million is to funds where the investment period has expired."

The board has declared a semi-annual dividend of 6.92p per ordinary share.

This will be paid on 3 November to shareholders on the register on 13 October.

At 8:12am: (LON:FPEO) FC Private Equity Trust Plc share price was +2p at 324p

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