Fact sheet: NB Private Equity Partners IT

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
SPECIALIST
Sector
IT Private Equity
Fund type
Investment Trust
Primary aim
No data available.
Why Money Observer Rates NB Private Equity Partners IT

New for 2017. A mix of equity and bond investment in private companies

This trust invests in private equity-backed companies through a mixture of direct investment and private equity funds. Its direct investments can be in either the shares or bonds of private companies, depending on which the managers deem most attractive. Its exposure to bonds allows it to pay a 4 per cent yield.

The bonds are mostly floating rate notes, which means there is an element of protection against rising interest rates. The trust, which is domiciled in Guernsey, is managed by NB Alternatives Advisers of Dallas, a subsidiary of Neuberger Berman Group, which gives it good access to private equity deals.

In recent years the trust's portfolio has gradually been repositioned towards direct investments and away from private equity funds. Direct equity and bond investments now represent 78 per cent of the portfolio, compared with 33 per cent at the end of 2012.

The remaining fund investments are expected to reach maturity in the coming years and will be replaced with new direct investment exposure over time. The target allocation split between direct equity and bond holdings is 60 per cent to 40 per cent.

The managers aim to spread investment risk through portfolio diversification across asset class, vintage year, geography, industry and sponsor.

The majority of the trust's investments are in North America - 87 per cent at the end of 2016 - with 8 per cent in Europe and the remainder in Asia and the rest of the world. However, the holdings are well diversified by sector, with top exposures to technology, consumer discretionary and healthcare sectors.

3 Year Performance
Fund Performance44%
Average of Rated Funds Group47.9%
Sector Performance38.1%
Fund information
Fund name
NB Private Equity Partners Limited
Fund manager company
NB Alternatives Advisers LLC
Fund type
Investment Trust
Fund manager
No data available.
Accolades
Fund objective
Our investment objective is to produce attractive returns on capital by investing directly into Private Equity backed companies with a focus on capital efficient strategies while managing risk through portfolio diversification. NBPE pursues diversification across capital structure, asset class, vintage year, geography, industry and sponsor.
Benchmark
No data available.
Investment style
None
Investment method
None
Quick stats
1 Year return
-0.2%
1 Year rank in sector
18/23
Sector
IT Private Equity
Yield
3.7%
Fund size
£478m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
100
Mid price
980
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
1169.4385
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
-16.20
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
100
Top in this sector
Fund name1 Year
Dunedin Enterprise IT plc78.4%
3i Group Plc27.9%
Abrdn Private Eq Ltd24.2%
Mithras Investment Trust PLC23.2%
ICG Enterprise Tst20.4%
...more in IT Private Equity

Performance snapshot

Holdings snapshot

  • North America82%
    Europe13%
    Asia5%
  • Industrials19%
    Technology17%
    Business Services13%
    Consumer Discretionary12%
    Financial Services12%
  • North American Equities82%
    European Equities13%
    Asia Pacific Equities5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-5.5%-1.2%-1.7%-0.2%44%116.4%
Sector-1.6%-2.2%-0.9%8.9%38.1%63.4%
Rank within sector22 / 2314 / 2314 / 2318 / 2314 / 224 / 22
Quartile4th3rd3rd4th3rd1st
Calendar performance
 YTD - 20182017201620152014
Fund-4.6%11.4%41.5%3.7%33.5%
Sector-1%13.8%21.6%3%8%
Rank within sector21 / 2316 / 235 / 2313 / 221 / 22
Quartile4th3rd1st3rd1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
3.06
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.85
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.69
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
13.31
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
11.51
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.07
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.24
Price movement
52 week high1087
52 week low952
Current bid price980
Current offer price992
Current mid price980
Region
1North America82%
2Europe13%
3Asia5%
Industry sector
1Industrials19%
2Technology17%
3Business Services13%
4Consumer Discretionary12%
5Financial Services12%
6Health Care11%
7Energy6%
8Media6%
9Transport3%
Asset type
1North American Equities82%
2European Equities13%
3Asia Pacific Equities5%
Individual holdings
No data available.
Management
Fund manager group
No data available.
Fund manager company
NB Alternatives Advisers LLC
Fund type
Investment Trust
Fund objective
Our investment objective is to produce attractive returns on capital by investing directly into Private Equity backed companies with a focus on capital efficient strategies while managing risk through portfolio diversification. NBPE pursues diversification across capital structure, asset class, vintage year, geography, industry and sponsor.
Benchmark
No data available.
Investment style
None
Investment method
None
Fund manager
No data available.
Compliance
AIC Member, Offshore
Domicile
No data available.
Fund for sale in
United Kingdom, Guernsey, Offshore
NB Private Equity Partners Limited
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1663
CurrencyUSX
Price updated31/01/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeO95G
NB Private Equity Partners Limited 2022 Zero Div Perf SHS NPV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price112
Offer price114
Mid price113
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNFDU
Data provided by

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