HarbourVest Global Private Equity establishes distribution pool to manage future buybacks

Special dividends included

HarbourVest Global Private Equity (HVPE) has launched a new shareholder distribution pool, which will be used to manage future share buybacks and special dividends.

The trust and its investment manager, HarbourVest Partners, said the policy will help "optimise total shareholder returns through the cycle" by ringfencing capital, which will be then returned to shareholders. Despite outperforming the FTSE All World Total Return index over the last ten years, HVPE said this has not been reflected in its share price, as it has traded at a "significant discount" for an extended period. According to data from the Association of Investment Companies, HVPE is currently trading at a 41.1% discount to net asset value, one of the steepst discounts in the IT ...