Electra private equity 2013/4 results

DividendMax Ltd.

Electra private equity 2013/4 results

Financial Highlights

Diluted NAV per share up 5% to 2,914p

Diluted NAV per share, including dividends, up 260% over ten years equivalent to a ten-year annualised return on equity of 14%, in line with the long-term target of 10-15% per annum

Return per share (diluted) of 150p for the six months

Share price up 17% against a 5% total return for the FTSE All-Share

Share price total return up 268% over ten years against 129% for the FTSE All-Share

£294 million of liquid resources net of bank borrowings

£116 million committed to invest in two transactions


Record level of investment for a six-month period, despite a competitive market

£250 million invested or committed - largest individual investments/commitments: Hotter Shoes, Ogier Fiduciary Services, Innovia Group

£152 million realised (inclusive of income)

£89 million total portfolio return, 9% on the existing portfolio for the six-month period

Largest individual gains: AXIO Data Group (£37 million) and Park Resorts (£10 million)

Board Changes

Roger Yates succeeded Dr Colette Bowe as Chairman on 11 March 2014

Subsequent to 31 March 2014

Further investment in Treetops Nurseries

Investment in Innovia Group completed

Commenting on the results, Roger Yates, Chairman of Electra Private Equity, said:

"Electra has started 2014 well with a record level of new investment and strong performance from its investment portfolio.

"Electra aims to produce a return on equity of 10-15% per annum over the long term, and over the past ten years has done just that with an annualised return of 14%.

"The keys to Electra's success remain the flexibility of its investment approach, its financial resources and the strength of the Manager, Electra Partners. It is well positioned to continue to deliver its objectives."

Companies mentioned