Standard Life European Private Equity Trust releases September results

During the year ended 30 September 2003 the Standard Life European Private Equity Trust net asset value per ordinary share rose 3.7% from September 2002 to 93.6p. The trust was launched with a diverse portfolio of 19 funds and has since added another 11. The fund held £126.9m in its 30 funds investments, a 46% increase on last year, with a further £22m in cash and other assets at the end of the reporting period. The period was active for new private equity investment and most fund managers enjoyed a good dealflow, with buyers able to negotiate attractive pricing against a difficult market for corporate vendors. In aggregate, £52.6m was drawn down by the company's portfolio of fund interests compared with £36m for the same period in 2002.

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