AI assistant
CD PRIVATE EQUITY FUND III — Net Asset Value 2023
Sep 13, 2023
64628_rns_2023-09-13_06148269-bc4f-46ec-968e-917bb25aec15.pdf
Net Asset Value
Open in viewerOpens in your device viewer
14 September 2023
CD Private Equity Fund III (Fund) (ASX: CD3)
Net Tangible Asset Update – 31 August 2023
| NTA per unit | Gross assets (million) |
Distributions Last 12 months |
Distributions Since inception |
Fund Inception | 5 year NTA return1, 2 |
|---|---|---|---|---|---|
| $2.01 | $152.4 | $0.51 per unit | $1.659 per unit | July 2016 | 21.9% p.a. |
The estimated unaudited net tangible asset value (NTA) after tax as at 31 August 2023 was $2.01[1,3] per unit (31 July 2023 was $1.90[1,3] per unit). The monthly movement is largely attributable to foreign exchange, with the Australian dollar depreciating by 3.5% against the US dollar, as well as changes in the underlying asset values of the LPs.
NTA movement per unit (post-tax)
Performance summary
| 1 | month | 6 | months | 1 year | 3 years p.a. | 5 years p.a. | Since inception p.a. | ||
|---|---|---|---|---|---|---|---|---|---|
| NTA Return1, | 2 | 5.8% | 6.8% | 12.5% | 35.7% | 21.9% | 15.6% |
On an NTA/Internal Rate of Return (IRR) basis, CD3 has achieved a return of 14.2% per annum since inception.
Monthly investment activity
During the month, the LP received three capital calls to fund follow-on investments and management fees. The LP also received a minor distribution related to a preferred equity sale in a portfolio company, as well as a release of an escrow from an earlier portfolio company sale.
As of 31 August 2023, the LP has received 13 of the 14 valuations for the period ending 30 June 2023 from the underlying managers, and these have been incorporated into the above unaudited NTA for the month. These valuations have resulted in a net movement of $0.05 per Unit, as outlined above. The remaining valuation is expected to be received in the next month.
Unitholders are welcome to reach out to the Investor Relations team via email at [email protected] or by calling +61 3 9691 6110.
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 612 132 813
Page 1
14 September 2023
Authorised for release by K2 Asset Management Ltd (ACN 085 445 094, AFSL 244 393), the responsible entity of CD Private Equity Fund III (Fund or CD3).
Notes: AUD:USD spot rate of 0.6484 as at 31 August 2023. Numbers may not sum due to rounding.
-
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;
-
Total returns are inclusive of distributions and based on post tax NTA;
-
Estimated unaudited net tangible asset value before tax at 31 August 2023 of $2.12 per unit (31 July 2023 was $1.99).
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 612 132 813
Page 2