Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Apax Global Alpha said net asset value return rose by more than fifth, led by 'strong' performance in its private equity portfolio.
For 2019, total net asset value return was 22.7% on-year, reflecting the 'good performance of the overall portfolio and in particular the very strong performance of private equity during the year,' the company said.
Return of private equity was 33.9%, derived debt delivered 11.8% and derived equity delivered 9.1% growth.
The company said it would be reducing a range of fees.
The annual fee of 1.25% of the value of the derived portfolio and eligible private equity will be reduced to 1% per annum for derived debt and 0.5% for derived equity and eligible private equity.
The performance fee rate had been reduced from 20% to 15% for derived debt, with a revised hurdle rate of 6% net of fees, previously 8% gross.
For derived equities and eligible private equity, the performance fee rate remains at 20% but the hurdle rate had been increased to 8% net of fees, previously: 8% gross.
At 9:13am: (LON:APAX) Apax Global Alpha Limited share price was +6.25p at 157.75p