Abrdn Private Equity Opp... Share Discussion Threads

[sharesoc] 16/4/2024 10:51

In case you missed our webinar with abrdn Private Equity Opportunities Trust (APEO), the recording can be found on our YouTube channel:

[deadly] 07/4/2024 22:17

tremendous performance this year so far and 10th best IT in March.
hxxps://citywire.com/investment-trust-insider/news/trust-watch-alliance-the-expensive-winner-after-a-fretful-first-quarter/a2439827?re=119177&refea=53880

[rambutan2] 23/3/2024 21:26

Raj, yes, it certainly can compound in double figs. As its and the other FoFs in the sector have proven over many years (see link in header for stats). And while in a good year it might not quite keep up with the single manager more concentrated trusts, that spread of investments does diversify risk. And it also offers optionality, and fantastic cash flow. Yes, it may be a bit more opaque for shareholders, but that's why you are entrusting the job to a top manager with a very long track record and who is also running large amounts of money in the same manner for very large private clients.

In the presentation I'm sure the manager said they were expecting to gradually up co investments to 30% or so. To me, that it a sensible level.

[raj k] 23/3/2024 10:42

So i watched the sharesoc presentation. One thing i did not know is they have exposure to 700 companies. They are trying to increase their direct exposure via co investments. Does anyone know to what extent they will do this. I normally like trust with more concentrated portfolios like HGT and OCI. I invested in APEO a while back and have benefited from the discount closing from 40 to 30% but over the long term will something like this be able to compound 11-12% with such a diversfied portfolio?

[rambutan2] 20/3/2024 15:24

The above mentioned webinar:

[rambutan2] 20/3/2024 15:21

Nav up a tad as Dec quarter valuations kick in:

[sharesoc] 19/2/2024 21:39

ShareSoc Webinar with abrdn Private Equity Opportunities Trust (APEO) 13/3/24 - 4pm. Alan Gauld (Senior Investment Director) will present a full overview of the company and give an update on current performance and future plans. Click here to register:

[nexusltd] 12/2/2024 22:44

Sell limit @ 512p filled, turn c. +10%. RSI peaked, momentum fading.
Skyship, thanks for the nudge.

[rambutan2] 11/2/2024 23:05

Soon to be new owner Patria (PAX on Nasdaq) will at least mean we lose the much derided abrdn monica!

[skyship] 31/1/2024 16:37

Well, achieved my 500p target, so took the very welcome 14% turn. A bit short-termist perhaps, but just nice to bank a reasonable profit! GLA...

[spangle93] 31/1/2024 07:49

Results available here

[rambutan2] 30/1/2024 22:22

Y/E results out tomorrow.

[goldthorpe] 30/1/2024 17:58

It's really motoring now.
Large trade today of 26,354 at £5 each. Perhaps to do with the buyback?
APEO is now the largest holding in my largely HY portfolio.
No rush to sell though.

[tonytyke2] 29/1/2024 15:05

Good news indeed, I've added more today.

[skyship] 25/1/2024 07:38

Good news today. A buyback programme. Should move us up progressively toward 500p.

[skyship] 21/12/2023 13:45

Thanks to the Action holding APEO one of the best performers in the sector - NAV-wise.

Yet here we languish on a 40% discount; versus 24% for NBPE for instance.

[skyship] 19/12/2023 16:47

Sp trying to make progress again - like battling through treacle.

Minor Nov'23 NAV fall due to currency fluctuations.


free stock charts from uk.advfn.com

[rambutan2] 19/12/2023 16:41

Nav steady (761p) as moves to 30/09 valuations:

Update from the Manager

"We are delighted that the portfolio has continued to grow in terms of constant currency valuation during the quarter to 30 September 2023. This means that the APEO portfolio has seen quarter on quarter constant currency valuation growth across all four quarters of the Company's 2023 financial year (to 30 September 2023) and continues APEO's record of providing annual NAV growth to its shareholders in every year since 2010*.

As we look forward, there are indications in the market that private equity M&A activity could begin to pick up in 2024 from the relatively low levels seen in 2023. If this does indeed happen, APEO stands to benefit from increased exit activity in its portfolio, both in terms of distributions and potentially NAV growth (given the valuation uplifts that are typically seen on exits).

However, the Manager continues to employ a cautious approach and plan for a more challenging market backdrop. In that context, we are pleased to see a strong month of net distribution activity from fund investments during November and take comfort in APEO's balance sheet position, with liquid resources of GBP231.7 million available to help navigate any adverse market conditions that may lie ahead."

[skyship] 24/11/2023 13:39

Got to 465p then relapsed back to current 445p where the discount has risen again to 42.0% - the highest amongst its peers.

[skyship] 15/11/2023 08:55

If this can break through the congestion at the 450p level, we may see a run back up to 490p...back down to a 36.2% NAV discount.v. current 42.4%.


free stock charts from uk.advfn.com

[skyship] 08/11/2023 18:10

abrdn Private Equity Opportunities Trust — Resilient NAV and stable balance sheet

abrdn Private Equity Opportunities Trust (APEO) posted a 12-month NAV TR of 5.1% to end-September 2023 amid persistently muted exit activity across PE markets and FX headwinds from stronger sterling. APEO’s drawdowns continue to outpace distributions, but the 12-month net capital calls were more than offset by the proceeds APEO received from the partial sale of its co-investment in non-food discount retailer Action. As a result, APEO’s balance sheet headroom, as measured by its commitment coverage ratio, remained broadly stable versus end-2022. Its discount to NAV of 44% is wider than its 10-year average of 23% and the c 10% average discount for buyout portfolios traded in the secondary markets in H123.

[rambutan2] 16/10/2023 14:51

Nothing can happen without Phoenix agreeing. So unlikely.

[skyship] 16/10/2023 13:34

APEO on a 43% discount surely vulnerable to some sort of corporate activity after today's news.

[rambutan2] 06/10/2023 05:07

11am kick off:

On 6th October, James Carthew will be joined by Alan Gauld from abrdn Private Equity Opportunities Trust and Andrew McHattie from The Investment Trust Newsletter...

[rambutan2] 26/9/2023 03:46

Comments:

Outlook from the Manager

"We are delighted with the constant currency growth in the portfolio during the quarter to 30 June 2023. This means that the APEO portfolio has experienced quarter on quarter valuation growth in constant currency across the first three quarters of FY23.

In spite of the relatively low levels of private equity M&A activity in 2023 to date, APEO's cumulative distributions have remained resilient in FY23 at GBP162.0 million, with one month of the financial year remaining. This compares with GBP210.2 million in the whole of FY22, which was a record year for APEO distributions.

As we look forward, there are indications in the market that private equity M&A activity could begin to pick up over the next 6 months from the relatively low levels seen in 2023 thus far. If this happens, APEO stands to benefit from increased exit activity in its portfolio, both in terms of distributions and NAV growth (given the valuation uplifts that are typically seen on exits).

However, the Manager remains cautious and continues to plan for a more challenging market backdrop. In that context, we take comfort in APEO's balance sheet position, with liquid resources of GBP214.6m available to help navigate any adverse market conditions that may lie ahead."