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CD PRIVATE EQUITY FUND II — Net Asset Value 2023
Oct 12, 2023
64627_rns_2023-10-12_a4fc67b6-b6f3-465b-901c-1fcadc5f455e.pdf
Net Asset Value
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13 October 2023
CD Private Equity Fund II (Fund) (ASX: CD2)
Net Tangible Asset Update – 30 September 2023
| NTA per unit | Gross assets (million) |
Distributions Last 12 months |
Distributions Since inception |
Fund Inception | 5 year NTA return1,2 |
|---|---|---|---|---|---|
| $1.68 | $95.5 | $0.535 per unit | $2.26 per unit | April 2013 | 12.9% |
The estimated unaudited net tangible asset value (NTA) after tax as at 30 September 2023 was $1.68[1,3] per unit (31 August 2023 was $1.68[1,3] per unit). While the monthly NTA movement was insignificant overall, the Fund’s gross assets did reduce as a result of the Fund making payment of a distribution to Unitholders of $0.195 per unit during the period. Additionally, during the month the Australian dollar weakened against the US dollar by 0.8% and the LP also received the final 30 June 2023 valuation from the underlying manager.
Performance summary
| 1 | month | 6 | months | 1 year | 3 years p.a. | 5 years p.a. | Since inception p.a. | ||
|---|---|---|---|---|---|---|---|---|---|
| NTA Return1, | 2 | 0.0% | 17.9% | 3.5% | 15.7% | 12.9% | 12.2% |
On an NTA/Internal Rate of Return (IRR) basis, CD2 has achieved a return of 11.9% per annum since inception.
Monthly investment activity
During the month, the LP received two capital calls (approx. US$0.09m) to fund follow-on investments and management fees. The LP also received three distributions for a net amount of approximately US$0.3m. The larger of these was a distribution of investment proceeds from Staple Street Capital, related to US Dominion Inc., an underlying portfolio company.
On 10 October 2023, the RE and Investment Manager released a Fund Series Update. Unitholders can find this presentation here.
Unitholders are welcome to reach out to the Investor Relations team via email at [email protected] or by calling +61 3 9691 6110.
Authorised for release by K2 Asset Management Ltd (ACN 085 445 094, AFSL 244 393), the responsible entity of CD Private Equity Fund II (Fund or CD2).
Notes: AUD:USD spot rate of 0.6435 as at 30 September 2023. Numbers may not sum due to rounding.
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Source: E&P Investments Limited (for data before 24 June 2023) and K2 Asset Management Ltd (for data post 24 June 2023). The historical performance is not a guarantee of the future performance of the Fund;
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Total returns are inclusive of distributions and based on the Fund’s post tax NTA; 3. Estimated unaudited net tangible asset value before tax at 30 September 2023 of $1.82 per unit (31 August 2023 was $1.84).
Level 32, 101 Collins Street Melbourne VIC 3000 T 61 3 9691 6110 F 61 3 9691 6170 E [email protected]
cdfunds.com.au ARSN 162 057 089
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