CD PRIVATE EQUITY FUND II — Net Asset Value 2022

Mar 13, 2022

Monthly update – February 2022

CD Private Equity Fund II

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NTA Gross assets Distributions per unit One month Annualised performance since
per unit (millions) (percentage of initial investment) performance [1,2] inception (April 2013) [1,2]
Last 12 months: Since inception:
$1.93 $113.50 69.5 cents (43%) 172.5 cents (108%) -0.5% 12.6%
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Fund update

The estimated unaudited net tangible asset value (NTA) after tax as at 28 February 2022 was $1.93[1,3] per unit (31 January 2022 was $1.94[1] per unit).

Net asset value movements for February were primarily a result of foreign exchange losses due to the appreciating Australian dollar (which detracted approximately 2.7%), partially offset by positive asset valuation movements from underlying LPs.

CD2 Fund performance

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1 Month 3 Months 6 Months 1 Year 3 Years p.a. 5 Years p.a. Since inception p.a. [3]
NTA return [1,2] -0.5% -0.4% 9.1% 47.0% 14.9% 15.6% 12.6%
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On an NTA/Internal Rate of Return (IRR) basis CD2 has achieved a return of 12.1% per annum since inception.

CD2 portfolio asset allocation

LP commitments to underlying managers (US$98.0m)

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Distribution Blue Point CPF
Software &
Business DFW
Technology 9.5% Services US Select $5.0 $7.5
Direct $5.0
4.7% 22.5% High
$15.0 Road
$7.5
Healthcare
Main
22.7% Trive $10.0 $7.5 Post
Manufacturing
14.1%
$6.5
$8.0 NMS
2.0% Tower $8.0
Arch
$10.0
24.5% Telecommunications $8.0 RFE
Tengram
Consumer & Retail Staple Street
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ASX release date: 14 March 2022

Notes: Authorised for release by E&P Investments Limited (ACN 152 367 649, AFSL 410 433), the responsible entity of CD Private Equity Fund II (Fund or CD2). 1. Source: E&P Investments Limited – the historical performance is not a guarantee of the future performance of the Fund; 2. Total returns are inclusive of distributions. NTA return is based on post tax NTA; 3. Based on estimated unaudited net tangible asset value before tax at 28 February 2022 of $2.12 per unit (31 January 2022 was $2.13). Numbers may not add due to rounding.

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