Overview
HarbourVest Global Private Equity seeks to achieve top-quartile performance over a multi-year investment cycle through a mixture of direct and fund investments in private equity.
The fund’s website can be found here.
Fundamentals
Price
Research History
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03 Nov 2022 50 min read
QuotedData’s Economic and Political Monthly Roundup November 2022
Economic and Political Monthly Roundup Investment companies | Monthly | November 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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07 Jul 2020 8 min read
QuotedData’s Economic Roundup – July 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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12 Nov 2019 1 min read
QuotedData’s economic roundup – November 2019
Economic & Political Roundup
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07 Jun 2019 5 min read
QuotedData’s economic roundup – June 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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13 Nov 2018 1 min read
QuotedData’s economic roundup – November 2018
QuotedData’s economic roundup – November 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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11 Jun 2018 2 min read
QuotedData’s Economic round up – June 2018
QuotedData’s Economic round up – June 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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12 Oct 2017 1 min read
QuotedData’s economic round up – October 2017
QuotedData’s economic round up – October 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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06 Jan 2025 1 min read
QuotedData’s morning briefing 6 January 2025 – HVPE
In QuotedData’s morning briefing 6 January 2025: HarbourVest Global Private Equity (HVPE) has published what it describes as “an inaugural cashflow update” for the 2024 calendar year. Key highlights are as follows: HVPE had a fifth consecutive month of positive net cash flow in December 2024, with a net US$39m received during the month; HVPE […]
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30 May 2024 3 min read
HarbourVest hopes to hand back $150m to $250m to investors
HarbourVest Global Private Equity has published results for the 12 months ended 31 January 2024. The NAV ended the year 4% higher at $50.47 per share, lagging the return on global listed equity indices (the All World Index returned 15.3%). Ed Warner (the chairman) states that the trust’s relative underperformance is not surprising, and is […]
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20 May 2024 1 min read
QuotedData’s morning briefing 20 May 2024 – HVPE, HLCL
In QuotedData’s morning briefing 20 May 2024: HarbourVest Global Private Equity (HVPE) reported its monthly NAV for April 2024. HPVE has an estimated NAV per share of $50.47 (£40.40), a decrease of 0.4% in US dollar terms over the previous month. HPVE invested $55m into HarbourVest funds over April, as part of its $2.3bn investment […]
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02 Feb 2024 3 min read
QD view – VIP access at bargain prices
After an extended period of trading at wide discounts, private equity funds seem to be more responsive to the idea of using share buybacks to tackle the problem. Is it time to pick up these bargains before they disappear? HarbourVest launching distribution pool The latest to make a move on this is HarbourVest Private Equity […]
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01 Feb 2024 3 min read
HabourVest announces new distribution pool and plans for a fully independent board
HarbourVest Global Private Equity Limited (HVPE) has launched a distribution pool to finance future share buybacks or return capital to shareholders by means of special dividends: The shareholder distribution policy will provide cash for shareholders to bolster their returns through the cycle The distribution pool will be funded from cash realisations, with 15% of […]
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27 Oct 2023 3 min read
QD view – is there an easy fix to the sector’s discount problem?
Like me, you may have been looking at your portfolio of investment companies over the past 18 months or so and swinging between despair and puzzlement. I keep asking the question, how can so many ostensibly good companies be so out of favour? Take Greencoat UK Wind, for example, which I bought for my portfolio […]
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26 May 2023 3 min read
HarbourVest’s results demonstrate the benefits of diversification
HarbourVest Global Private Equity (HVPE) has released the annual results for its financial year ending 31 January 2023. HVPE reported a 12 month NAV total return of -1.2%, compared to the -7.3% return of the FTSE All-World Index. HVPE’s positive returns from infrastructure and real assets, credit, and small to mid-cap buyouts were more than […]
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19 May 2023 2 min read
QuotedData’s morning briefing 19 May 2023
The Unbound Group (UBG) (formerly Electra Private Equity) provided an update follow its strategic review. The company had recently reported that the trading environment remained challenging over Q1 with conditions deteriorating more than expected, leaving the company with cash constraints. As a result the board has decided to initiate a formal review of strategic options available […]
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14 Mar 2023 2 min read
More SVB updates – fortunately not too serious
A number of funds made comments on the fallout from the collapse of Silicon Valley Bank and Signature – as far as we can tell, there is nothing earth-shattering here. HarbourVest may be worrst-affected. Although as the managers of Polar Capital Global Financials Trust suggest, this episode may not be quite over yet. NB Private […]
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03 Mar 2023 4 min read
QD view – Discounts – time to get serious?
The chart below shows how the median discount of share price to net asset value (NAV) across the whole London-listed investment companies market has moved since the start of 2021. What we see is a big lurch downwards around the outbreak of the war in Ukraine. Then a steady widening over the next few months […]
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20 Jan 2023 1 min read
Modest NAV growth from HarbourVest Global Private Equity reflects strengthening US dollar
HarbourVest Global Private Equity (HVPE) has announced its estimated NAV per share as at 31 December 2022 at US$48.04 (£39.76); up 0.2% in US dollar terms over the month (which reflects the currency movement). HVPE says that, for this estimate, 7% of its portfolio is valued at 31 December 2022, this being the public companies […]
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16 Aug 2022 2 min read
QuotedData’s morning briefing 16 August 2022
In QuotedData’s morning briefing on 16 August 2022: LondonMetric Property (LMP) sold four assets, in two separate transactions, for £25.6m, reflecting a blended net initial yield (NIY) of 5.3%. In the first transaction, the company sold a portfolio of three multi-let industrial assets totalling 53 units across 235,000 sq ft, located in Halesowen and Aston, […]
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27 May 2022 3 min read
HarbourVest Global Private Equity has its best year since its inception
HarbourVest Global Private Equity (HVPE) has announced its annual results for the year ended 31 January 2022, which its annual report describes as “A strong financial year with record levels of performance and activity”. To summarise, HVPE has provided NAV growth of 37%, share price growth of 48%, a 20 percentage point reduction in its […]
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21 Dec 2021 2 min read
QuotedData’s morning briefing 21 December 2021
In QuotedData’s morning briefing 21 December 2021: HarbourVest Global Private Equity Limited (HVPE) has announced that its multi-currency credit facility has been increased by US$100 million (from US$600 million to US$700 million) with immediate effect. The additional US$100 million is being provided by Credit Suisse AG London Branch, one of the existing lenders, which has […]
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28 Oct 2021 2 min read
QuotedData’s morning briefing 28 October 2021
In QuotedData’s morning briefing 28 October 2021: Standard Life UK Smaller Companies (SLS) has changed its name to abrdn UK Smaller Companies Growth. Its ticker has changed to AUSC. Aberdeen Emerging Markets (AEMC) has changed its name to abrdn China. Its ticker has changed to ACIC. HarbourVest Global Private Equity (HVPE) has posted its results […]
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28 May 2021 2 min read
HarbourVest Global Private Equity posts largest annual NAV increase since launch
HarbourVest Global Private Equity (HVPE) has announced its annual results for the year ended 31 January 2021, during which it has provided NAV per share increase of 30.4% over the financial year – the largest 12-month increase in HVPE’s 13-year history. It says that this compares against a return of 17.4% for its FTSE All-World […]
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24 Jun 2020 2 min read
HarbourVest Global Private Equity says majority of the portfolio likely to experience a low or moderate impact
HarbourVest Global Private Equity (HVPE) announced results for the year ended 31 January 2020. NAV per share increase of 14.5% to $27.6 over the 12 months. The company was a net investor over the year, with $324.2m cash invested, compared with distributions of $308.2m. HVPE committed $570m over the year, to new HarbourVest funds, with the majority weighted towards primary […]
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29 Apr 2020 1 min read
QuotedData’s morning briefing 29 April 2020
Barclays reported first quarter results this morning. It announced a sharp increase in its provisions for bad loans, anticipating a series of defaults from its corporate and retail clients. British Airways is to reduce its workforce of 42,000 by nearly 30%. Its parent company, IAG, does not expect passenger numbers to return to 2019 levels […]
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23 Oct 2019 1 min read
QuotedData’s other news 23 October 2019
In QuotedData’s other news 23 October 2019 Triple Point Social Housing REIT has completed the acquisition of 18 supported housing properties, comprising 77 units in total, for an aggregate commitment of approximately GBP11.6 million (excluding costs). The properties are located in the West Midlands (30 units), the East Midlands (20 units), the South West (11 units), […]
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21 Jun 2019 3 min read
QuotedData feedback on Harbourvest Private Equity meeting
QuotedData feedback on Harbourvest Private Equity meeting From time-to-time, QuotedData’s analysts meet a wide range of companies that aren’t clients for our sponsored research service. We figured it made sense to share some of our thoughts on these companies with you. So, in the first of a series of ad hoc reports, here are some […]
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29 May 2019 1 min read
QuotedData’s other news 29 May 2019
In QuotedData’s other news 29 May 2019: TriplePoint Social Housing REIT has bought 12 supported housing properties, exchanged contracts on a further three supported living properties and acquired the land and entered into forward funding arrangements to develop another three supported housing schemes, comprising 178 units in total, for an aggregate commitment of approximately £39.5m. Harbourvest Private […]
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07 Dec 2018 1 min read
HarbourVest Global Private Equity gets additional US dollar quote on LSE
HarbourVest Global Private Equity (HVPE) has announced that it intends to introduce an additional US dollar quote for the Company’s shares traded on the Main Market of the London Stock Exchange. The new US dollar quote will operate alongside HVPE’s existing sterling quotation. US dollar quote to go live on Monday 10 December 2018 HVPE says […]
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12 May 2017 1 min read
Harbourvest lags rising world markets
Harbourvest Private Equity says that, in the year to 31 January 2017, its USD NAV per share grew by 10.3%. Unlike the previous year when NAV performance exceeded the total return of the MSCI All Country World Index by 12%, on this occasion growth of 10.3% was somewhat less than the return on that index which […]
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03 May 2017 2 min read
14th consecutive year of outperformance for BlackRock Smaller
For fourteen consecutive years BlackRock Smaller Companies has outperformed its benchmark and increased its dividend. Over that period, the NAV has grown nearly ten-fold whereas the benchmark has almost quadrupled. The compound annual increase in dividends paid over the past five years has been 20% per annum. During the year to 28 February 2017, the NAV increased […]
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06 Feb 2017 1 min read
14 investment trusts for income and growth in 2017
Investors looking forward to a period of calm in 2017 might be disappointed, but David Prosser has the trusts experts are backing to navigate further storms. Having just been through a year of unprecedented political upheaval that sent financial markets spinning, many investors will be assuming 2017 cannot possibly be so tumultuous. The reality, however, […]
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09 Jan 2017 1 min read
HarbourVest Global Private Equity renews it US$500m credit facility
HarbourVest Global Private Equity (HVPE), has announced that it has renewed its existing $500m multi-currency credit facility with Lloyds Bank plc and Credit Suisse AG. HVPE says that Lloyds Bank has maintained its $300m commitment, with Credit Suisse AG continuing to commit $200m. The Facility, which retains similar covenants, has been extended to December 2020. […]
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06 Dec 2016 1 min read
SVG Capital shareholders approve wind up proposals
SVG Capital has announced the results of its general meeting at which shareholders have a proved a change of investment policy, which allows for an orderly realisation of the Company’s assets and to make repurchases in connection with a series of tenders offers, which will allow for a progressive return of cash to shareholders. Following […]
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19 Oct 2016 1 min read
HarbourVest wins battle for SVG Capital
SVG Capital, one of the UK’s largest private equity investment trusts and a Money Observer Rated Fund, has succumbed to a hostile takeover from US rival HarbourVest. read more here
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18 Oct 2016 1 min read
Harbourvest to buy SVG portfolio for £807m
SVG Capital has announced that it has sold 100% of its portfolio having today signed an asset transfer deed with Harbourvest. Harbourvest Structured Solutions III LP is paying £807m for the portfolio. The price is a small (0.6%) premium to the NAV at end July 2016. Taking that figure, adding SVG’s existing cash pile and allowing […]
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10 Oct 2016 2 min read
Harbourvest considering bid for SVG’s portfolio
In a new twist, Harbourvest has said in a press statement that it might bid for SVG’s portfolio. It followed this up with a statement this morning that said “HarbourVest announces today that it has approached the Board of SVG Capital with a view to engaging immediately with the Board to put forward a firm […]
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07 Oct 2016 2 min read
HabourVest makes an extension to its offer for SVG Capital
HarbourVest has announced that, in light of the proposals disclosed by SVG Capital yesterday, to sell SVG Capital’s entire portfolio to funds managed by Goldman Sachs Asset Management’s Alternative Investments & Manager Selection Group (Goldman Sachs AIMS Group) and certain investment entities managed by Canada Pension Plan Investment Board (CPPIB) for approximately £748m, it believes […]
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06 Oct 2016 2 min read
SVG Capital proposes sale and wind down for approximately 680p per share
SVG Capital has provided an update regarding the proposed sale of the company’s investment portfolio and wind down. The Board says that it has agreed in principle the key commercial terms of a proposed sale of 100% of the investment portfolio to funds managed by Goldman Sachs Asset Management’s Alternative Investments & Manager Selection Group […]
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03 Oct 2016 1 min read
SVG confirms Goldman Sachs and others looking at deal
The Board of SVG Capital notes the speculation around the identity of a unit of Goldman Sachs and the Canadian Pension Plan Investment Board (“CPPIB”) as consortium members linked to a possible alternative transaction for SVG Capital plc. As announced on 16 September, 2016, the Board was in discussions with a number of parties who […]
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29 Sep 2016 2 min read
SVG in talks with a number of credible parties
SVG Capital says The Board believes that Harbourvest’s offer undervalues the company and recommends that shareholders do not accept HarbourVest Bidco’s Offer of 650p per share. Since the announcement of the change of the Company’s investment strategy in December 2011, SVG Capital has reported NAV and share price growth of 18.5% p.a. and 24.0% p.a. respectively (as at […]
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27 Sep 2016 1 min read
Harbourvest Global Private equity to delist from Euronext
HarbourVest Global Private Equity has decided to consolidate its listing on the Main Market of the London Stock Exchange and has applied to delist from Euronext Amsterdam. This delisting is expected to take effect on 24 October 2016, with the last trading date being 25 October 2016. It is intended that subsequent to this, the […]
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26 Sep 2016 1 min read
SVG Capital in talks with various parties following HarbourVest offer
IC Top 100 Fund SVG Capital (SVI) has received a takeover offer from global private equity company HarbourVest and shareholders in possession of more than half the shares are backing the offer. Only 50 per cent of SVG’s shares need to vote in favour for the deal to go ahead. SVG’s board is opposing the […]
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12 Sep 2016 2 min read
Harbourvest bid for SVG
HarbourVest today announces a full and final cash offer to be made by HarbourVest Bidco for the entire issued and to be issued ordinary share capital of SVG Capital, to be implemented by way of a takeover offer within the meaning of Part 28 of the Companies Act 2006. Under the terms of the Offer, […]
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31 May 2016 1 min read
HarbourVest’s cash pile growing
Harbourvest Global Private Equity has announced results for the year ended 31 January 2016. After reaching an all-time high in May 2015, the total return of the MSCI All Country World Index was negative at -6.3% for the twelve months. In contrast the net asset value per HVPE share increased by 5.6% (in US dollar terms). […]
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30 Sep 2015 1 min read
Harbourvest Global Private Equity sees record realisations in first half
Harbourvest Global Private Equity has released its interim results for the six-months ended 31 July 2015. These show the company had US$187m of realisations during the period (a record level) and is reportedly on track to meet the US$356m received during the last financial year. NAV per share increased 6% during the period from US$15.86 […]
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29 Sep 2015 1 min read
HarbourVest extends credit facility by $200m
HarbourVest Global Private Equity has announced the successful renewal of its multi-currency credit facility with Lloyds Bank plc. HVPE has refinanced the facility, which will increase from $300 million to $500 million with immediate effect. The increased commitment has been provided by a new lender, Credit Suisse AG, which has committed $200 million alongside the existing […]
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31 Aug 2015 1 min read
Harbourvest Global Private Equity completes move to main market
At an EGM on 27 August shareholders approved Harbourvest Global Private Equity’s move to the main market of the LSE. Oddly, the fairly standard proposal that the company be allowed to issue new shares, although worded in an unusual way, was rejected by shareholders and the Board say they are going to tlk to dissenting […]
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30 May 2014 1 min read
Harbourvest Global Private Equity : HVPE – annual results
Harbourvest Global Private Equity has published its results for the year that ended 31 January 2014. Over the year the net asset value grew by 15% to hit $14.38 ($1,167m). They say venture investments and investments in the US did best during the year. By contrast the MSCI World Index rose by 10.4% over this […]
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18 Feb 2014 1 min read
Harbourvest Global Private Equity : HVPE – structural changes
Harbourvest Global Private Equity is keen to move its listing to the main market. To achieve this it will have to grant full voting rights to its A shareholders. This is problematic at the moment as a majority of its shareholders are based in the US but their share of the register has been declining. […]
Upcoming Events
Videos
In The Press
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29 Nov 2024 1 min read
Which undervalued trusts could rerate in 2025?
By Jennifer Hill, Investment Trust Insider, 29 November 2024: Investment trust discounts are heading in the right direction, having narrowed by almost four percentage points from their lows in October last year, but they still have plenty of ground to make up. At the end of October 2023, amid rising interest rates and conflict in […]
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28 Oct 2024 1 min read
With shares of many private equity trusts trading at a huge discount, is now the time to pounce?
By Anne Ashworth, Daily Mail, 25 October 2024: The word ‘discount’ is one of the most enticing in the English language. But in the case of private equity investment trusts, discounts are provoking more suspicion than excitement at present. The share prices of many of these trusts – which back the unlisted businesses poised to […]
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14 Oct 2024 1 min read
Investment trust insider on HarbourVest Global Private Equity
Investment trust insider on HarbourVest Global Private Equity – James Carthew: I bought HarbourVest because its discount is far too wide HarbourVest Global Private Equity languishes on a 42% share price discount, which ignores several positive features of the £1.7bn portfolio I said two weeks ago I was thinking about buying shares in another undervalued […]
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30 Aug 2024 1 min read
Early stage company valuations the challenge for private equity investors
By David Thorpe, FT Adviser, 30 August 2024: The valuations of the holdings of private equity investment trusts have mostly been hit by their early stage investments, rather than the more established businesses, according to Richard Hickman, who runs HarbourVest Global Private Equity investment trust. Hickman said: “It has been much more the venture side […]
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23 Apr 2024 1 min read
A glaring opportunity to snap up these cheap investment trusts
by Cherry Reynard from interactive investor, 23rd April 2024: Private equity investment trusts look like a glaring opportunity. They are trading at or near all-time record discounts after a long period where the sector has been out of favour. Holdings in the trusts have generally continued to perform well, with valuations stable. Yet these trusts […]
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08 Mar 2024 2 min read
The investment trusts banking on an IPO rebound
by Dave Baxter, Investors Chronicle, March 8, 2024: With its latest trading update unveiling a fifth straight annual loss, unquoted buy now, pay later business Klarna embodies some of the problems facing racy growth companies in recent times. Once seen as a promising name, the lender has struggled in the face of rising rates and […]
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23 Feb 2024 1 min read
How to value investment trusts’ private assets
by Val Cipriani, Investors Chronicle, February 21, 2024: The valuations of private assets have increasingly come under scrutiny in the past two years, as inflation and higher interest rates sent listed company values on a rollercoaster but left the likes of private equity relatively untouched. Private investors typically get exposure to private assets through investment […]
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11 Oct 2023 1 min read
15 years on from Lehman’s: the funds and investment trusts that top the charts
by Kyle Caldwell from interactive investor, 10th October 2023: The 15-year anniversary of the collapse of Lehman Brothers, which sent shockwaves through global stock markets, recently passed. Prior to the largest bankruptcy in US history came the credit crunch. This put paid to over-borrowed banks such as Northern Rock. Then came the full-blown banking crisis […]
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03 Oct 2023 1 min read
Is the reputation of private equity trusts finally on the turn?
Cherry Reynard, PORTFOLIO ADVISER, 02 OCTOBER 2023: The Bank of England’s change of direction on interest rates has rippled through investment markets. Perhaps one of its most surprising impacts has been felt in the growth capital and private equity sectors, where trusts have seen a considerable bounce over the last three months. After a torrid […]
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12 Sep 2023 1 min read
What’s behind big investment trust discounts and when will they narrow?
by Sam Benstead from interactive investor, 12th September 2023: Investment trust investors are suffering this year, with the sector dropping around 2% so far in 2023, including dividends. A key reason for the average trust being in the red is the widening of discounts, which in the spring reached their widest levels since the financial […]
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09 Aug 2023 2 min read
Private equity trusts hold up well despite heavy discounts
By Val Cipriani, Investors Chronicle, August 8, 2023: Private equity trust valuations have broadly held up so far this year despite higher interest rates leading to pessimism and huge discounts across the sector. Private equity net asset values (NAVs) are published with a few months of delay, so most of the data currently available refers […]
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02 Aug 2023 1 min read
Eight investment trusts that could be takeover targets
by Sam Benstead from interactive investor, 2nd August 2023: Wide investment trust discounts are making them appealing takeover targets, with rumoured or confirmed deals likely to lead to sudden share price jumps… Discounts have widened due to negative sentiment about the economy, and therefore private company valuations, but also due to the impact of higher […]
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24 Jul 2023 1 min read
Why I’m sticking some start-ups in my pension
David Brenchley, The Times, July 22 2023: Cheap private equity investment trusts can be lucrative pension investments – but you need to pick the best and back them for the long-term. Private equity funds have been in the spotlight since the chancellor, Jeremy Hunt, got nine of Britain’s biggest pension firms to agree to pump […]
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27 Jan 2023 1 min read
Public/private valuation disconnect looks overdone
James Carthew for Investment Week, 24 January 2023: Within the investment companies sector, it has to be admitted that 2022 was a pretty poor year for funds investing in global equities. Only one, Brunner, managed to beat the MSCI AC World index, in NAV terms, although Lindsell Train, Alliance Trust and F&C all came close. […]
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20 Dec 2022 1 min read
Falling at the first hurdle
Cherry Reynard, Trustnet Magazine, 20 December 2022: There was widespread optimism in the world of investment trusts at the start of 2022… However, as soon as Russia invaded Ukraine in February, all bets were off. This set off a chain of events, with disruption to commodity markets pushing up inflation, leading to higher interest rates […]
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31 Oct 2022 1 min read
Investment trust insider on significant discounts
Investment trust insider on significant discounts – James Carthew: Trusts like Scottish Mortgage could do more to narrow discounts The widening of share price discounts across much of the investment company sector is costing investors dearly. For example, Scottish Mortgage’s (SMT) 13% discount represents a £1.6bn gap between the value being placed on the company […]
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08 Aug 2022 1 min read
Bargain Hunter: 13 eye-catching investment trust discounts
by Kyle Caldwell from interactive investor, 8th August 2022: Investment trust bargains are back, with the average discount moving from a lowly 2.2% at the start of this year to 7.4% today. Prior to the strong month for stock markets in July, that average discount figure was even wider, hitting a 12-month peak of above […]
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30 Jun 2022 1 min read
Preparing for a wave of value write-downs in the private equity trust universe
Ian Conway, Shares Magazine, 30 June 2022: Private equity investors have been put on warning after press reports last month that privately-owned BNPL (buy now, pay later) specialist Klarna was seeking to raise fresh capital at a steep discount to its previous valuation. This has raised the question of whether private equity valuations need to […]
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22 Feb 2022 1 min read
What next for the private equity trusts?
Private equity trusts have posted stellar returns in 2020 and 2021, but a new environment poses new challenges By Dave Baxter, Investors Chronicle, February 21, 2022: The persistent share price discounts on which most private equity investment trusts still trade have tended to disguise a sector in rude health. That was particularly the case in […]
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07 Feb 2022 2 min read
Gateway to private markets
Hannah Smith, AIC’s Compass, 4 February 2022: Unquoted companies offer the exciting potential for unbridled growth, albeit with a high level of stock-specific risk. With companies taking longer to reach IPO stage, there are more opportunities in this space, and now even mainstream investment trusts are making unlisted businesses a significant part of their portfolios. […]
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16 Nov 2020 1 min read
Engines of growth: on a bargain hunt
Engines of growth: on a bargain hunt By Leonora Walters, Investors Chronicle, 12th October 2020 A key driver of the price of any listed security is sentiment so, not surprisingly, some of the investment trust sectors which have experienced the most extreme discount and premium movements this year are those about which there has been particular […]
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16 Apr 2020 1 min read
Why investors should not ignore unlisted companies
Why investors should not ignore unlisted companies April 14, 2020 by Tom Bailey, Money Observer Stock markets connect the monetary savings of a society with companies in need of capital to invest and grow. At its best, this allows businesses to expand, powering economic growth and prosperity while providing savers with a return on their money. Historically, […]
