As of end August 2019, 147% of drawn capital has been returned to the shareholders which represents net proceeds of EUR 98.7 million. 20%, which is approximately EUR 13.8 million, was returned in the past 18 months.
The sub fund was launched in 2006. Its main investment strategy was to invest into primaries. The EUR 71 million committed by the investors was successfully put into 15 investments with 200 companies directly and indirectly owned over the life cycle of the sub fund.
As of end August 2019, a market value of approximately EUR 15.7 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 22.6 million, representing 67% of the net asset value in 2017, back to shareholders
- Created an additional value of 13% as 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 sub fund’s share class has ISIN code LU0268880266.