BMO PRIVATE EQUITY TRUST PLC

Description

Founded in 1999, BMO Private Equity Trust Plc, formerly F&C Private Equity Trust Plc is a Closed-ended investment trust with objective to deliver long-term capital growth through investment in private equity assets. It offers its shareholders with a predictable and above average level of dividend funded from a combination of its realized capital profits and revenue. It aims to declare quarterly dividend with an annual yield up to 4% of the average of the published net asset values.  The company is listed on the London Stock Exchange as LON: BPET.

The company has appointed BMO Investment Business Limited, which is a wholly owned subsidiary of BMO Asset Management Plc. The company primarily invest in private equity focused limited partnerships, investment companies and trusts and offshore funds and it may also invest in secondary private equity funds interests and may make direct equity investment through co-investment with the fund in which it has invested.  The private equity funds in which it invests include venture capital funds, buy-out funds and mezzanine funds. Its portfolio is well diversified by sector, company size, geography, management style, stage of development and transaction type. At the point of drawdown the company may use gearing of up to 30% of its total assets.

The company should not invest more than 15% of total assets in UK-listed investment companies, no more than 15% should be invested in Non-UK listed investment companies, no more than 50% of total assets should be invested in direct private equity co-investments, no more than 5% may be invested in a single co-investments and private equity and no more than 10% may be invested outside the UK, US and Continental Europe.