Vantage Private Equity Growth Limited expects to fully commit its Private Equity Allocation within 36 months of Commencement. The long-term allocation of the Company’s investments is intended to be more than 60% to Private Equity and less than 40% to a combination of cash and fixed interest securities.
When a Commitment is made there is often no immediate cash flow effect and cash is only drawn down by the Private Equity fund when investments in underlying enterprises actually take place.
The current investment portfolio allocation and post tax net asset value (NAV) per share is as follows:
| Month Ending | Cash | Fixed Interest Investments | Private Equity (Value) | NAV per Ordinary share |
|---|---|---|---|---|
| 30 Apr 2012 | 3.79% | 28.80% | 67.40% | 1.123 |
| 31 Mar 2012 | 2.21% | 28.71% | 69.08% | 1.122 |
| 29 Feb 2012 | 2.07% | 29.10% | 68.83% | 1.108 |
| 31 Jan 2012 | 0.89% | 32.49% | 66.63% | 1.108 |
| 31 Dec 2011 | 2.63% | 32.12% | 65.25% | 1.113 |
| 30 Nov 2011 | 2.63% | 32.27% | 65.09% | 1.104*** |
| 31 Oct 2011 | 10.09% | 29.96% | 59.96% | 1.161 |
| 30 Sep 2011 | 2.82% | 29.80% | 67.37% | 1.160 |
| 31 Aug 2011 | 2.11% | 31.90% | 66.00% | 1.153 |
| 31 Jul 2011 | 8.96% | 27.63% | 63.41% | 1.135 |
| 30 Jun 2011 | 0.18% | 27.53% | 72.29% | 1.133 |
| 31 May 2011 | 2.78% | 31.64% | 65.58% | 1.089 |
| 30 Apr 2011 | 4.29% | 31.50% | 64.21% | 1.088 |
| 31 Mar 2011 | 5.61% | 31.35% | 63.04% | 1.088 |
| 28 Feb 2011 | 3.99% | 33.29% | 62.72% | 1.085 |
| 31 Jan 2011 | 2.00% | 36.26% | 61.74% | 1.085 |
| 31 Dec 2010 | 3.57% | 36.04% | 60.39% | 1.086 |
| 30 Nov 2010 | 2.47% | 36.35% | 61.19% | 1.076** |
| 31 Oct 2010 | 3.17% | 41.45% | 55.38% | 1.078 |
| 30 Sep 2010 | 5.67% | 41.17% | 53.15% | 1.070 |
| 31 Aug 2010 | 6.06% | 41.00% | 52.95% | 1.075 |
| 31 Jul 2010 | 6.53% | 40.66% | 52.81% | 1.074 |
| 30 Jun 2010 | 6.64% | 40.66% | 52.70% | 1.074 |
| 31 May 2010 | 1.35% | 50.26% | 48.40% | 1.031 |
| 30 Apr 2010 | 2.34% | 50.32% | 47.34% | 1.030 |
| 31 Mar 2010 | 4.99% | 50.34% | 44.67% | 1.030 |
| 28 Feb 2010 | 1.79% | 55.57% | 42.64% | 1.015 |
| 31 Jan 2010 | 1.79% | 57.16% | 41.04% | 1.013 |
| 31 Dec 2009 | 2.23% | 57.05% | 40.72% | 1.014 |
| 30 Nov 2009 | 1.43% | 59.75% | 38.82% | 0.995 |
| 31 Oct 2009 | 2.01% | 59.34% | 38.66% | 0.997 |
| 30 Sep 2009 | 3.57% | 59.11% | 37.31% | 0.998 |
| 31 Aug 2009 | 4.10% | 59.45% | 36.45% | 0.993 |
| 31 Jul 2009 | 2.26% | 63.21% | 34.52% | 0.992 |
| 30 Jun 2009 | 4.25% | 62.98% | 32.77% | 0.992 |
| 31 May 2009 | 1.42% | 65.90% | 32.68% | 0.989 |
| 30 Apr 2009 | 1.58% | 65.68% | 32.74% | 0.988 |
| 31 Mar 2009 | 5.26% | 65.41% | 29.33% | 0.988 |
| 28 Feb 2009 | 2.97% | 67.65% | 29.38% | 0.989 |
| 31 Jan 2009 | 4.35% | 66.45% | 29.20% | 0.990 |
| 31 Dec 2008 | 8.75% | 66.44% | 24.81% | 0.990 |
| 30 Nov 2008 | 10.86% | 65.70% | 23.44% | 0.997 |
| 31 Oct 2008 | 11.69% | 65.34% | 22.97% | 0.999 |
| 30 Sep 2008 | 11.91% | 65.59% | 22.50% | 0.996 |
| 31 Aug 2008 | 12.69% | 65.70% | 21.61% | 0.998 |
| 31 Jul 2008 | 6.41% | 73.41% | 20.18% | 0.997 |
| 30 Jun 2008 | 5.49% | 74.08% | 20.43% | 0.996 |
| 31 May 2008 | 8.48% | 74.44% | 17.08% | 0.991 |
| 30 Apr 2008 | 7.64% | 74.93% | 17.42% | 0.989 |
| 31 Mar 2008 | 9.39% | 75.43% | 15.17% | 0.988 |
Note: During March 2008, VPEG exited all of its Enhanced Yield Investments and since that time has invested its initial capital across a combination of cash and fixed interest investments consisting of rolling 30, 60 and 90 day term deposits. The table above details the spread of VPEG’s investment portfolio across each investment type as at the end of each month.
| Month Ending | Cash and other Fixed interest | Enhanced Yield Investments | Private Equity (drawn down) | NAV per Ordinary share |
|---|---|---|---|---|
| 29 Feb 2008 | 7.51% | 77.13% | 15.36% | 0.986 |
| 31 Jan 2008 | 7.58% | 77.36% | 15.13% | 0.988 |
| 31 Dec 2007 | 8.24% | 77.72% | 14.05% | 0.991 |
| 30 Nov 2007 | 6.26% | 81.17% | 12.57% | 0.986* |
| 31 Oct 2007 | 7.91% | 81.21% | 10.88% | 0.994 |
| 30 Sep 2007 | 5.10% | 84.05% | 10.85% | 0.990 |
| 31 Aug 2007 | 1.72% | 87.25% | 11.04% | 0.985 |
| 31 Jul 2007 | 2.52% | 87.75% | 9.73% | 0.984 |
| 30 Jun 2007 | 1.57% | 89.30% | 9.13% | 0.984 |
| 31 May 2007 | 0.26% | 91.55% | 8.19% | 0.981 |
| 30 Apr 2007 | 0.29% | 95.70% | 4.01% | 0.979 |
| 31 Mar 2007 | 0.55% | 95.36% | 4.10% | 0.976 |
| 28 Feb 2007 | 0.74% | 97.48% | 1.78% | 0.972 |
| 31 Jan 2007 | 0.32% | 97.70% | 1.98% | 0.968 |
| 31 Dec 2006 | 1.84% | 94.76% | 3.40% | 0.972 |
| 30 Nov 2006 | 1.43% | 94.54% | 4.03% | 0.968 |
Notes re dividends;
* 1c / share fully franked dividend paid on 12 November 2007 to all Shareholders in VPEG as at 30 June 2007
** 1c / share fully franked dividend paid on 12 November 2010 to all Shareholders in VPEG as at 30 June 2010
*** 8c / share distribution (3c return of capital + 5c dividend) paid on 16 November 2011 to all Shareholders in VPEG as at 30 June 2011
Private Equity Portfolio
Vantage Private Equity Growth Limited’s current private equity portfolio and commitments, are as follows:
Read about the Private Equity Portfolio »
Cash & Fixed Interest Investments
VPEG currently invests a portion of its Net Investment Portfolio in a combination of high yielding “cash at call” deposits with ANZ Banking Group Ltd (ANZ), as well as rolling term deposits with Westpac Banking Corporation (Westpac).
Read about VPEG’s Cash & Fixed Interest Investments »