Zug, October 8, 2020
Net Asset Value as of September 30, 2020
As of September 30, 2020, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH), stood at EUR 83.43 (CHF 89.87), representing an increase of 0.7% in EUR (0.7% in CHF) since August 31, 2020.
In September, the positive NAV performance of PEH was the result of both favourable movements in the USD/EUR exchange rate and positive valuation adjustments of, i.a., fund investments Pelion IV and Pelion VI as well as PEH's co-investment in Acino, a Swiss pharmaceutical company focusing on advanced drug delivery technologies.
PEH received noteworthy distributions from Eagletree IV, distributing proceeds from the fund's partial realisation of Corsair - a global brand of high performance computer peripherals and hardware focused on the PC gamer market - in the course of the company's recent IPO, as well as from Pelion IV, distributing shares of Cloudflare, a web application security company listed on NASDAQ.
Private Equity Holding AG (SIX: PEHN) is a listed investment company for private equity investments. It offers institutional and private investors the opportunity to participate in a simple and tax-efficient manner in a diversified and professionally managed private equity portfolio with selective fund and direct investments.
Income from the portfolio is partially reinvested, as well as passed on to the shareholders as annual distributions. Private Equity Holding's portfolio is managed by Alpha Associates, an independent Private Equity, Private Debt and Infrastructure investment manager based in Zurich.
For further information, please contact:
Kerstin von Stechow, Investor Relations, [email protected], phone +41 41 726 79 80, http://www.peh.ch
The basis of the Net Asset Value Calculation and Disclaimer
The number of outstanding shares used for calculation of the Net Asset Value per share amounted to 2,584,842 as of September 30, 2020 (August 31, 2020: 2,582,902). The calculations are prepared in accordance with International Financial Reporting Standards (IFRS) and pursuant to the guidelines of Invest Europe (formerly known as the European Venture Capital Association). The valuations of the fund investments are based on the most recent reported net asset values (NAVs) of the funds. In estimating the fair value of unquoted direct investments, Private Equity Holding AG considers the most appropriate market valuation techniques. The fair value of listed direct investments is the market value. The NAV of Private Equity Holding AG is calculated at the end of each month under a going concern assumption and usually published within six trading days after the cut-off date. The different reporting cut-off dates of the individual companies and funds in which participations are held can lead to short-term distortions and cause discrepancies between the published NAV and the actual total value of Private Equity Holding AG's net assets.