As of end August 2019, 162% of drawn capital has been returned to the shareholders which represents net proceeds of EUR 230.6 million. 15%, which amounts to approximately EUR 35.5 million, has been returned in the past 18 months.
The sub fund was launched in 2010. Its main investment strategy was to invest into secondaries on a global scale. The EUR 142 million committed by investors was successfully put into 29 investments, with 49% in direct co-control investments. The remaining amount was invested in approximately 220 companies directly and indirectly owned over the life cycle of the sub fund.
As of end August 2019, a market value of approximately EUR 53 million remains in the portfolio. The remaining assets are well into the harvest phase and the market for realisation continues to be strong.
Prolonged duration gave positive effect
The duration of the sub fund was extended in 2017 by two years in order to realise an optimal value of the sub fund’s remaining investments.
Since the prolongation in 2017 the sub fund has:
- Distributed EUR 82 million (71% of the net asset value in 2017) back to shareholders
- Created additional value of 16% compared to the net asset value in 2017
The 2017 prolongation has already resulted in a better financial return for shareholders. We believe the decision taken at the 5 September EGM will also be beneficial to shareholders.
The share classes in the sub fund have ISIN codes LU0499433182, LU0499433349, LU0499433265 and LU0499433000.