Sherborne continues its investment strategy through Electra – Sherborne Investors (SIGB), which owns 29.9% of the shares of Electra Private Equity (ELTA) as its only investment, has released its annual report for the year ended 31 December 2017.
The NAV of Sherborne delivered a total return of 9.5% and the share price rose by 25.7% on the same basis.
In December 2017, we reported on Electra’s performance for the year ended 30 September 2017. Its NAV total return was 9%, well behind that of the Mid 250 Index at 14%. Including their third special dividend announced 23 October 2017, they have returned GBP1.8bn to shareholders since 1 October 2016. The shareholder return was 21% as the discount narrowed (although this has widened since the end of the period to -24.49 (18/04/2018). Please click here to see our report of Electra’s results for the year ended 30 September 2017.
More on Electra
Electra Private Equity has the objective of achieving a rate of return on equity of between 10-15% per year over the long term by investing in a portfolio of private equity assets. It has three classes of share capital – ordinary shares, convertible unsecured loan stock (CULS) and zero dividend preference shares (ZDPs).
SIGB / ELTA: Sherborne continues its investment strategy through Electra