Standard Life European PE trust reports annual results

Standard Life European Private Equity Trust recently reported its results for the year ending 30 September 2002. The company's net asset value (NAV) per ordinary share declined 4.2% to 90.3p (30 September 2001: 94.3p). As at 30 September 2002 the company's net assets were £143.8m (30 September 2001: £151.0m). Although the company does not have a defined benchmark, the company's NAV has materially outperformed the two major stock market indices. Over the last year and since the company's listing in May 2001, the company's NAV has fallen by 4.2% and 8.5% respectively, while the FTSE All Share Index has fallen by 23.0% and 36.8% and the MSCI Europe Index (sterling adjusted) by 25.8% and 41.4% respectively.

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• UK / Ireland