CASTLE PRIVATE EQUITY AG In USD and unaudited, unless otherwise stated
NAV update as at 31 January 2021
Monthly net return
+0.7%
Year to date* net return 0.7%
NAV per share 15.61
NAV per share in CHF 13.89
Share price as at 31 January 2021
Price in CHF
10.00
Year to date price return in CHF 0.0%
Premium / discount in CHF -28.0%
Portfolio information
Net asset value (USD million) 158.8
Private equity assets (USD million) 123.1
Investment degree 77.5%
Net liquidity** (USD million) 35.7
Net liquidity** monthly change (USD million) 0.5
Uncalled commitments (USD million) 46.5
Uncalled commitments (% of NAV) 29.3%
Shares in circulation (million, net of buybacks) 10.169
CHF / USD exchange rate 0.89
*from audited December NAV. Adjusted for distributions and options **cash + short-term assets - bank debt and other liabilities
NAV by investment stage as at 31 January 2021
turnaroubnadlanced
Monthly net returns (%), NAV in USD (from April 1997 to January 2021)
Monthly report - January 2021
CastlePE's net asset value increased by 0.7 per cent during January. The positive monthly investment result was mainly driven by exits and valuation increases throughout the portfolio, namely the write-up in the valuation of Index Ventures III and New Enterprise Associates 10.
The positive investment performance was reduced by the 0.7 per cent decrease in the value of the Euro versus the Dollar during the month resulting in an unrealised currency loss of USD 0.2 million.
January's cash flows were once again favourable: CastlePE received distributions of over USD 1.1 million, while overall investment outflows in the month were not significant. Uncalled capital ended the month at USD 46.5 million or 29.3 per cent of net asset value.
During January USD 0.5 million was used to purchase 40,000 shares on the second line buyback program.
NAV performance in USD from April 1997 to January 2021
20 18 16 14 12 10 8 6 4 2 0 Mar 97Mar M | 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% |
JanFebMarAprMayJunJulAugSepOctNovDecYTD
2021 0.74 0.74
2020 -1.04 -0.24 0.18 1.73 -2.87 -2.64 1.29 1.17 0.28 -0.72
2019 -0.31 -0.48 -0.19 -0.26 1.20 1.05 -0.09 0.33 -0.24 -0.50
2018 0.44 -1.40 2.17 0.31 0.15 1.32 0.11 0.09 -1.69 -1.02
2017
0.36 1
2016
-0.05 1
2015
-0.86 1
2014
-0.54 1
2013
0.70 1
2012
-0.36 1
2011
-3.27 1
2010
-3.05 1
2009
6.25
2008
1.25
2007
1.48
2006
1.90
2005
-0.66
2004
0.10
2003
-0.98
2002
-1.06
2001
-1.24
2000
9.64
1999
0.00
1998
0.00
1997
Source: LGT CP / Bloomberg
6.50 0.15 3.54
0.43 0.75 1.35
2.21 -0.14 5.25
0.36
1.17
0.92
0.78
1.47
0.84
1.36
0.11
0.08
0.82 0.51 9.13
0.15
1.55
0.17
0.17
-0.32
1.29
0.73
1.09
0.07
0.80 0.85 6.68
0.44
0.70
1.09
0.55
2.04
0.21
1.84
0.69
0.03
-0.16 0.30 7.07
1.76
2.64
0.32
1.50
1.17
-1.02
1.15
0.30
0.15
0.86 -1.70 6.71
-1.04
0.02
0.80
2.06
0.27
0.47
1.24
1.81
-0.05
2.41 1.98 11.12
1.48
0.77
1.97
-0.03
1.30
-1.05
0.61
0.55
0.94
0.86 2.93 10.35
5.34
1.76
2.54
1.35
1.34
-0.20
1.03
-0.55
-0.42
-2.59 0.94 7.20
2.09
2.43
0.12
0.87
0.28
1.92
0.42
2.97
2.78
0.90 7.59 20.73
-9.55
-1.14
-2.60
-0.64
-0.74
4.94
-0.22
0.62
3.10
2.89 1.45 3.48
0.76
0.86
-0.35
-1.40
0.64
-0.51
-3.72
-3.17
-11.87
-4.87 -12.79 -30.99
3.57
5.12
0.86
2.54
1.19
1.45
4.13
2.13
2.78
2.82 0.23 32.13
0.11
3.69
3.39
1.47
1.01
-0.04
1.03
-0.05
0.18
4.52 2.44 21.37
2.53
1.85
1.35
-0.32
2.16
1.64
2.66
0.24
-0.68
4.48 0.75 17.07
1.07
-0.74
0.32
1.39
1.90
0.79
1.15
1.70
-0.21
2.55 2.20 12.86
-1.10
-1.81
-0.91
-0.24
-0.61
0.59
0.17
0.57
1.60
3.42 1.54 2.14
-1.51
-3.24
-2.51
-2.33
-1.76
0.44
-2.53
-1.28
-1.03
-0.31 -2.68 -18.14
-2.64
-1.54
-1.72
-3.01
-2.96
-1.14
-3.52
-0.73
-2.30
-5.40 -0.82 -24.00
0.52
0.54
13.18
3.03
-0.36
-0.14
8.75
-0.34
6.43
-0.21 0.52 48.74
0.00
0.00
0.00
0.64
2.66
5.70
0.01
1.30
2.89
0.02 0.06 13.92
0.00
0.98
0.00
0.00
-0.38
0.00
0.00
2.44
0.00
0.00 4.25 7.43
0.00
0.22
0.00
0.87
0.00
0.58
0.00
0.00 -0.29 1.38
1 With a cut-off date for the December audited financial statements in March, a significant part of December valuations reflected in the January and February reports has been reflected in the audited December NAV of the previous year. Please see disclaimer on the last page of this document.
www.castlepe.com
NAV, price and premium/discount
Listing to January 2021, in CHF
Premium/Discount CHF
Key facts Investment manager
LGT Private Equity Advisers Investment adviser
LGT Capital Partners Custodian*
NAV CHFPrice CHF
BNP Paribas Fund Administration Services Ireland Limited Auditor
90%
60%
30%
0%
-30%
-60%
PricewaterhouseCoopers Swiss legal counsel Niederer Kraft & Frey Fees 1.0% management fee and 10% performance fee (subject to high watermark of USD 932.8 million)
Market quote
Quoted and traded daily in CHF on SIX Listing date
CHF: 7 September 1998
ISIN/Valor CH004885474 Bloomberg CHF: CPEN SW
*of the company's main subsidiary in Ireland
Board of directors Gilbert Chalk (Chairman)
Konrad Baechinger (Deputy Chairman) Thomas Amstutz
Heinz Nipp
For further information, please contact Benedikt Meyer, GM, tel. +41 (0) 55 415 9710
Company structure
Castle Private Equity AG ("the Company") is a joint stock corporation established for an indefinite period in the Canton of Schwyz, Switzerland, by deed dated 19 July 1997. The Company's shares have been listed in Swiss Francs on the SIX Swiss Exchange since 7 September 1998 and in US Dollars since 21 January 2002. Trading in CastlePE's USD shares was discontinued on 31 October 2016.
On 21 May 2019 Castle Private Equity Ltd. announced a share buyback programme by issuing put options tradable on SIX Swiss Exchange. Every 20 put options entitled shareholders to tender one registered share at the exercise price of CHF 20.00. In total, 547,654 registered shares were tendered. Furthermore, following the termination of the buyback via issuance of tradable put options, the Board of Directors of Castle Private Equity Ltd. decided to launch a new share buyback programme on a second trading line at SIX Swiss Exchange. It started on 14 June 2019 and a maximum of 578,598 registered shares (maximum 3.21% of the share capital and voting rights registered in the commercial register) will be purchased for cancellation purposes. On 10 August 2020, Castle cancelled 849,410 shares as approved at the general meeting of shareholders on 12 May 2020.
As of 31 January 2021, Castle held 244,387 shares from the current buyback program.
Swiss Security Number: 4885474
Address
Castle Private Equity AG
Schuetzenstrasse 6, CH-8808 Pfaeffikon SZ, Switzerland
Disclaimer
This document is for the intended recipient only and may not be passed on or disclosed to any other person. This document is solely for information purposes and does not constitute an offer to sell or an invitation to invest. In particular, it does not constitute an offer or solicitation in any jurisdiction where it is unlawful or where the person making the offer or solicitation is not qualified to do so or the recipient may not lawfully receive any such offer or solicitation. It is the responsibility of any person in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of relevant jurisdictions.
The information and any opinions contained herein have been obtained from or are based on sources which are believed to be reliable, but their accuracy cannot be guaranteed. No responsibility can be accepted for any consequential loss from this information. Prospective investors should rely only on the information contained in the Company's prospectus. Prospective investors should also inform themselves, and should take appropriate advice, on the legal requirements and as to the possible tax consequences, foreign exchange restrictions or exchange control requirements that they may encounter under the laws of the countries of their citizenship, residence or domicile and that may be relevant to the subscription, purchase, holding, exchange, redemption or disposal of any investments. Performance numbers shown are records of past performance and not an indication of future performance. See alsohttp://www.castlepe.com/en/cpe/disclaimer.html
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Disclaimer
Castle Private Equity AG published this content on 26 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 10:01:05 UTC.
