Petershill Share Price (PHLL)

Https://www.proactiveinvestors.co.uk/companies/news/1025274/petershill-partners-trading-at-a-40-50-discount-ahead-of-results-reckons-ubs-1025274.html

Showing some upward movement.

How long before there is a significant change to the discount?

By that I mean the share price goes up not the NAV comes down!

Have they invested all the proceeds of the IPO?

Think I remember them saying they haven't.

A mistake was to put the company in the growth capital section of investment trusts. Everything is on massive discounts there.

Note Augmentum, it's hiding in a different sector and it's pure fintech. But is only on 30% discount.

Also I wonder how long they will put up with the discount? I can see them taking it private again.

"Given the post tax profitability, the cash position of the company and the outlook, we felt that

$165 million is an appropriate level. We guided at the time of the IPO and we'll continue to guide

to a progressive absolute dividend. We wouldn't necessarily expect the same percentage growth

year on year and don't guide to a dividend payout ratio, but more in terms of this being a

progressive absolute dividend for the business."

"Our business is designed for diversification and we believe our

Partner-firms are well positioned for an inflationary environment.

Private market fundraising and investing activity have continued

even amidst uncertainty and we are pleased with the progress our

Partner-firms have made this year, performing in line with our

latest guidance.

Our model, based on long-term fee-related earnings, provides

resilience against challenges to realisations for performance and

gives visibility to the majority of our revenues. Diversification

across strong Partner-firms means we are not dependent on a

single fund raise. Our largest underlying fund continues to

represent less than 5% of Aggregate Partner‐firm AuM.

We believe that the Company is robust and well-placed to face

a changing fundraising and operating environment.

Well positioned for an inflationary environment."