abrdn Private Equity Opportunities Trust

LN: APEO

Market Cap£680m

Last Close 442p

APEO’s investment objective is to achieve long-term total returns through holding a diversified portfolio of private equity funds and direct investments into private companies alongside private equity managers (‘co-investments’), a majority of which will have a European focus.

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Investment summary

Abrdn Private Equity Opportunities Trust (APEO) posted a 6.8% NAV total return (TR) in H122 (ending March 2022), which was a function of a robust return in late 2021 (in calendar Q421 at 5.2%, driven by profitable exits). The NAV TR between end-December 2021 and end-June 2022 stands at 2.4%, but its latest NAV is still largely based on end-March 2022 valuations and does not capture the subsequent sell-off in public equities. APEO’s manager acknowledges that macro headwinds are likely to exert pressure on corporate earnings and portfolio valuations in H222. We note that this has already been reflected in its share price as APEO’s discount to NAV widened to c 39% (versus 20% in our February 2022 note).

Content on abrdn Private Equity Opportunities Trust
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Standard Life Private Equity Trust – Increasing its investment level
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Sector
Investment companies
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Share price graph
Price performance
%
1m
3m
12m
Actual 2.3 (10.3) 2.8
Relative* (3.9) (9.6) 2.3
52-week high/low 582.0p/397.0p
*% relative to local index
Key management
Alan Gauld Fund manager

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