Global fund manager Standard Life has won the 'Best Private Equity Trust' in the Investment Trust Magazine Awards for the performance of its Life European Private Equity Trust (SLEPET) last year.
Having raised the value of shares in the trust by nearly a third, the overall portfolio's value increased by 63.9 per cent, more than doubling the sector's average growth.
Standard Life attributed its success to a healthy financial market, strong trading by the companies it had invested in and "an encouraging market for private equity realisations".
"We're delighted that the excellent performance of the Trust throughout 2005 has been recognised in this way," said Jonny Maxwell, SLEPET's chief executive.
"Against a background of a strong European private equity market SLEPET has performed well, enjoying an excellent year of growth in share price, NAV and distributions received."
Standard Life's successful SLEPET fund may influence the fund managers' deliberations about whether or not to go ahead with its demutualisation plans, a move which would see it float on the stock market in an effort to gain capital funds.To read more about investments, click here.
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