Net Asset Value(s)

RNS Number : 2813X

J.P. Morgan Private Equity Ltd

11 August 2009

 



J.P. MORGAN PRIVATE EQUITY LIMITED 
ANNOUNCES 30 JUNE 2009 NAV

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GUERNSEY, 11 AUGUST 2009 

J.P. Morgan Private Equity Limited ('JPEL' or the 'Company') today announces its second quarter 2009 results.

As at 30 June 2009, the Company's net asset value ('NAV') per US$ Equity Share is $1.34, based on the number of equity shares in issue as at 30 June 2009, down 5.6% since the last reported NAV as at 19 June 2009.  This NAV is based primarily on financial statements received from underlying fund managers as at 31 March 2009. 

The first quarter of 2009 witnessed continued degradation in major market benchmarks. JPEL's NAV per US$ Equity Share decline during the second quarter compares favourably with the MSCI World Index (USD), which declined by 12.5% during the first quarter of 2009. The Dow Jones Industrial Average and the S&P 500, declined by 13.3% and 11.7%, respectively, during the same period. 

During the second quarter of 2009 the global markets began to rebound and JPEL's stock price enjoyed a 30.6% increase.  Additionally, since the end of the second quarter, the Company has raised approximately $60 million which the Manager will endeavour to deploy in primarily NAV-accretive investment opportunities to generate value for shareholders.

NAV per share for the Company's 2013 and 2015 ZDP Shares increased from 54.1p to 55.06p and from 49.89p to 50.93p, respectively, during the second quarter, representing gains of 1.78% and 2.09%, respectively, per share.  JPEL's 2013 ZDP share price and 2015 ZDP share price increased by 6.8% and 10.4%, respectively for the same period.

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About J.P. Morgan Private Equity Limited 

J.P. Morgan Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL, JPEZ, JPZZ) designed primarily to invest in the global private equity market. The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market. 

 THIS IS AN ESTIMATED VALUATION OF THE NET ASSETS OF THE COMPANY AS AT 30 JUNE 2009. THIS VALUATION IS FOR INFORMATION PURPOSES ONLY AND HAS NOT BEEN VERIFIED BY THE COMPANY OR THE MANAGER. THIS VALUATION INCLUDES THE MOST RECENT INFORMATION AVAILABLE FROM THE COMPANY'S UNDERLYING PRIVATE EQUITY FUND MANAGERS FOR THEIR RESPECTIVE PRIVATE EQUITY PORTFOLIOS. IT IS BASED ON UNAUDITED ESTIMATED VALUATIONS SUPPLIED BY THE ADMINISTRATORS, MANAGERS OR INVESTMENT ADVISERS OF THE COMPANY'S UNDERLYING INVESTMENTS. WHILST THE MANAGER BELIEVES THIS INFORMATION TO BE USEFUL INVESTOR INFORMATION, IT IS SUBJECT TO MATERIAL CHANGE AND CONSEQUENTLY NO RELIANCE SHOULD BE PLACED AS TO ITS ACCURACY.

NEITHER THE COMPANY NOR THE MANAGER ACCEPT ANY LIABILITY WHATSOEVER IN REGARD TO THIS INFORMATION. THE ONLY OFFICIAL VALUATION OF THE COMPANY'S PORTFOLIO IS THE VALUATION PRODUCED AS AT THE LAST BUSINESS DAY OF EACH MONTH AND REPORTED VIA RNS WHEN RELEASED.

 

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