Last checked at 
29 Nov 2017 10:59
London, UK, 29 November 2017
Edison issues update on HarbourVest Global Private Equity (HVPE)
HarbourVest Global Private Equity (HVPE) is celebrating 10 years since its launch in December 2007. Over the period since its inception to end-October 2017, HVPE has outperformed global equity markets and its listed private equity peer group, represented by the LPX 50 index, in both NAV and share price terms. In this note, we analyse a series of alternative performance measures which show that, on a risk-adjusted basis, HVPE's share price performance has tended to compare favourably to global equity markets, while its risk-adjusted NAV returns have also compared positively to its listed private equity peer group over most time periods.
Having previously traded at a premium to NAV, HVPE's share price moved to a 60% discount to NAV in 2009 during the global financial crisis. Subsequently, the discount has followed a narrowing trend, reaching a low of 9.6% in May 2017. This means that, while HVPE's share price return is lower than its NAV return over the 10 years since its launch, its share price returns have outperformed its NAV returns over one, three and five years, as the discount has narrowed.
Click here to view the full report.
All reports published by Edison are available to download free of charge from its website
www.edisoninvestmentresearch.com
About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
Edison is authorised and regulated by the Financial Conduct Authority.
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.
For more information please contact Edison:
Gavin Wood, +44 (0)20 3681 2503
Rob Murphy, +44 (0)20 3077 5733
investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-investment-research
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv