Private Equity Investor Trust

  • 0.00p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.70%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 2.22%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.00%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Fund data last updated 21 March 2003

This is a private equity fund of funds which aims for substantial capital appreciation by targeting technology companies primarily based in the US. The trust targets the best managers in the sector who have a long track record of success in early, through expansion stage to pre-IPO companies. The other feature of the fund is that it has a large proportion of its assets (c40%) invested in quality bonds awaiting drawdown investment.

Fund summary

Sector Private Equity
Structure X-INVESTMENT TRUST
Launched
Size £20m
Yield 0.00%
Charging basis
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.70%
Ongoing charges figure 2.22%

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Investment process

This company was floated in February 2000 with an investment objective to seek long-term capital growth for investors. To achieve this it mainly invests in emerging growth companies through specialist venture capital funds mainly focused on the US information technology sector. Venture funds are selected according to the track record of management, strength of deal flow and investment strategy. The trust currently holds a large proportion of its assets invested in a portfolio of government/supranational debt and cash (approximately 25%) which is committed to further investment.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Portfolio

As at 31 March 2006 the trust had invested $148m via 19 Limited Partnerships in 459 private companies, and 62 public companies.

Key Investor Information

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