(Alliance News) - abrdn Private Equity Opportunities Trust PLC on Tuesday reported a slowdown in net asset value return during the financial year 2022 that ended on September 30, citing a "tough" economic environment under inflation.

The Edinburgh-based investor in private equity funds focused on Europe said NAV per share at September 30 rose 12% to 753.2 pence from 673.8p a year prior. NAV total return after dividend reinvestment fell to 14% from 38%.

Looking ahead, the company expects the current "tough" inflationary economic environment to remain in the short to medium term, with its underlying portfolio companies and private equity valuations continuing to be held back by headwinds.

The company recommended a total dividend of 14.40p per share, up 5.9% from 13.60p in financial year 2021.

Chair Alan Devine says: "I believe that the quality and diversification of the existing portfolio, and its strong balance sheet, will help to position APEO well during these challenging market conditions and will allow APEO to continue to generate attractive long-term returns to shareholders in the coming years."

abrdn Private Equity Opportunities Trust PLC shares were 0.5% lower at 476.41 pence each in London on Tuesday morning.

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.