F&C's Tigue backs private equity to deliver 10% growth by year end

Jeremy Tigue, manager of the £2.3bn Foreign & Colonial investment trust, said private equity is in line to climb in value by 10% before the end of the year.

Tigue said in the short term he is finding no value in listed markets and private equity is the only area he would consider adding to this quarter. The manager has 17% of the portfolio in private equity and is considering increasing exposure to 20%, the maximum he can hold.  The manager said valuations on his private equity holdings have increased by 7.9% to the trust’s financial year end, and he expects further upside as private equity investors are under pressure to sell assets and return cash to shareholders. “Private equity is going to have a strong year and this is reinforc...