SVG enjoys 23% NAV boost in H1

Alice Murray
12 August 2013

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SVG Capital has reported a 23% uplift in net asset value (NAV) in its half-year results, with shares now trading at 480p.

The firm's NAV was boosted through the sale of 50.1% of SVG Advisers to Aberdeen Asset Management in February, which added 17p to the NAV per share.

The half-year results announcement also details an agreement to sell SVG Investment Managers to Hansa Aktiengesellshaft, a Swiss-based investor, which could see further NAV increases.

According to SVG chairman Andrew Sykes, the company's portfolio has performed well thanks to the strong performance of Hugo Boss and ProSiebenSat.

In the first six months of 2013, SVG returned £101m of capital to shareholders, with plans to return a further £267m over the next two to three years.

The fund-of-funds has reported a strong liquidity position with £219m in cash and net debt of £34m.

Over the last six months SVG has made a £100m commitment to Cinven's fifth fund, and a further €100m investment in Permira V. It plans to make new investments over the next 12 months.