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FPEO F&C Private Equity Trust

336.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
F&C Private Equity Trust LSE:FPEO London Ordinary Share GB0030738271 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 336.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
331.00 337.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 336.00 GBX

F&C Private Equity (FPEO) Latest News

F&C Private Equity (FPEO) Discussions and Chat

F&C Private Equity Forums and Chat

Date Time Title Posts
28/6/201910:23F&C Private Equity 'B' Shares191

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F&C Private Equity (FPEO) Most Recent Trades

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F&C Private Equity (FPEO) Top Chat Posts

Top Posts
Posted at 28/6/2019 10:23 by vacendak
I have set up a new thread to reflect the change from FPEO to BPET.
Posted at 25/8/2018 16:05 by cerrito
Respectable results but the NAV is the same as June 2017.
I did wonder about buying more but passed as the current share price for me is correct.
Posted at 28/5/2018 23:09 by cerrito
I was at the FPEO AGM on Thursday.
As usual the Fund Manager came over well and gave a good presentation. We did not get into why so many coinvestments had been disappointing and with hindsight should really have done more to get to the bottom of what learning there is in the context that they will be increasing further the amount of coinvestments they are doing.
We were told that Weird Fish is doing well and let's see if they have had a profitable exit from Ambio via an IPO by the time of next year's AGM.
Given that the shares have been trading at a premium- excellent given the track record of other listed PE companies- the Board is reviewing the possibility of doing an equity raise which could be good that with the increased size of the Trust it could get more institutional support and liquidity perhaps leading to a reduced bid: offer spread. That said they have plenty of fire power as it is and not clear to me that all that many good deals out there at the current time so would be happy if they did nothing.
However comfortable I am with Management I have no desire to buy more and may well lighten up.
PS
I just looked at today's FT which had information on 15 conventional PE investment trusts and FPEO was one of two who are trading at a premium and their's at 2.8 pc was the highest- a good show even taking into account that you have to take these figures with a bit of a pinch of salt
Posted at 24/5/2018 13:16 by skyship
Specto - if you're still in here surely time to take profits as the latest stats show how over-valued this PE Trust now is. At 362p now on a near 4% Premium:
============================================================================

Quarterly results for the three months to 31 March 2018 (unaudited):

-- Share price total return for the three months of 6.1 per cent for the Ordinary Shares

-- Quarterly dividend of 3.57p per Ordinary Share payable on 31 July 2018

Manager's Review - Introduction:

As at 31 March 2018, the net assets of the Company were GBP258.2 million, giving a Net Asset Value (NAV) per share of 349.24p, which taking into account the dividend of 3.55p per share paid on 31 January gives a decrease in total return over the quarter of 1.2%, mostly due to currency movements. At 31 March, the Company had net cash of GBP1.9 million. Outstanding undrawn commitments were GBP140.6 million with approximately GBP17.0 million to funds where the investment period has expired.
In line with the Company's policy to pay dividends on a quarterly basis, a dividend of 3.57p per share was paid on 30 April 2018 and a further dividend of 3.57p will be paid on 31 July 2018 to shareholders on the register on 6 July 2018.
Posted at 01/5/2018 14:48 by spectoacc
It's a bit cheeky picking out iii I admit, but does show FPEO not an outlier.

Interestingly, iii's swung between a discount of around 60% (2008) & premium of over 50% (2017).
Posted at 01/5/2018 13:03 by rambutan2
Agree that iii's premium is too high, but it's the only PE fund liquid enough for the big funds to hold, and also it's self managed and earns fees from external investors in its funds. In comparison, FPEO has two layers of management fees and two layers of performance fees.
Posted at 24/3/2018 07:36 by spectoacc
@Skyship - you've been saying "sell" on FPEO for quite some time! :)

(I sold out a while ago so perhaps I can't talk - left at least 50p on the table. But I always remember iii is on a massive premium).

Chart looks good for a retest above 360 - if you believe that sort of thing (I don't).
Posted at 24/11/2017 12:40 by vacendak
Sorry if I sounded too negative, this was not the aim.
Glad to be holding FPEO and happy with the new quarterly divi policy.
Posted at 25/8/2017 08:00 by vacendak
Well, I was complaining about the lack of updates and we are getting a HY report today.


Reading quickly through it (I shall try to spend more time on it later):

This is for end of June, so the recent drop in share price is not explained (it went down then back up before June 30th).

They are "listening to their shareholders" - aren't they all? - and since we seem to like getting dividends from Private Equity, they are proposing to move to a quarterly dividend distribution; with the first quarterly ex-div date being end of March 2018. I have to say that they are disciplined. I mean being able to promise a yield (4% at the moment) based on the NAV is bold. The FPEO dividend puts them in the ball-park of income focused Investment Trusts, in fact beating some.
Weird world to live in for sure when income comes not from bonds but EM and PE stocks. These used to be radioactive to moderate risk taking investors such as humble me.

Geographic spread:
A slight increase towards the US is mentioned.

Dry powder:
Cash in the bank still high: £8.3 mils and the £70 mil borrowing facility remains untouched.

The discount has fallen to 3.9% down from a more standard 15.8% at December 31st. Again this is as of June 30th, so it might have widened a bit now.

Good read so far, but again quick parsing, so there could be some nasties buried in the accounts.
Posted at 23/8/2017 08:50 by vacendak
The share price is coming back to Earth.

Hard to find any news about FPEO and their factsheets/updates are few and far between. So no real idea what is going on with whatever they are invested in going potentially bad.

Still happilly in the money, but not by as much as a few months ago.
F&C Private Equity share price data is direct from the London Stock Exchange

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