CT Private Equity discount remains stubborn despite NAV uplift

NAV up 9.3% in Q3

The discount to net asset value of the £518.5m CT Private Equity (CTPE) trust continues to remain stubborn, reflecting a wider sector trend, which the company said “fails to reflect the underlying valuations”.

According to the trust's Q3 results, the NAV total return was 9.3% and up by 14% for the nine-month period ended 30 September 2022. Meanwhile, the share price total return for the quarter fell by 9.7% and 17.2% for the same nine-month period. According to the Association of Investment Companies, CTPE is currently trading at a 34.2% discount. This reflects a wider sector trend, as private equity investment trust investors have rushed for the exits again this year, with discounts trading at pandemic lows.  As at 30 September, the trust's net debt was £23.7m, equivalent to a gearing leve...