Standard Life Private Equity Trust - Increasing its investment level

Standard Life Private Equity Trust (SLPET) recorded a NAV total return of 11.7% in the quarter ended 30 June 2021 (last date of portfolio valuations). SLPET benefited from improving public market multiples, driving unrealised portfolio gains to £72.2m (representing c 8.2% return), as well as strong realisations. The average uplift on exits in the quarter reached 29.3%, translating into an average multiple on invested capital of 3.2x. Based on the last reported NAV estimate as at end-October 2021, reflecting end-June 2021 portfolio valuations adjusted for subsequent FX movements and dividend payments, SLPET reported a one-year NAV TR of 36.7%, above the 35.4% return posted by the FTSE All-Share index and 25.6% by the LPX Europe NAV index, used as a broad PE market reference.