PPF ("PMG Partners Funds") - LPActive Value Fund - EUR A

The objective of the LPActive Value Fund is to identify undervalued private equity companies through an active selection process. The fund focuses on those listed private equity companies that have a comfortable liquidity position, an attractive discount on their intrinsic value and an experienced management team. The fund gives investors access to around 900 direct investments and well over 200 private equity funds. The selection for the LPActive Value Fund is based on the following criteria:

The LPActive Value Fund only invests in listed private equity shares for which the LPX Group can make a clear statement on the structure and value of the portfolio within the framework of a specially developed net asset value (NAV or intrinsic value) model.

The focus is on stocks with a good historical NAV performance (i.e. a good track record) and an excellent management team. Management quality is continuously assessed by the LPX Group research team.

The fund prefers internally managed listed private equity companies which invest directly in private companies and in some cases operate an additional fund management business which generates additional income for the investor (general partner income).

The current premiums / discounts are calculated continuously (LPX live NAV). The LPX Group analyses these in comparison with the relevant peer group and assesses quantitatively and qualitatively whether they are justified.

Key figures such as liquidity position and financing structure are central components of the investment strategy of the LPActive Value Fund. Off-balance sheet liabilities such as commitments are also taken into account.

The portfolio of the LPActive Value Fund is highly diversified in terms of vintages, investment styles (buyout, growth and venture) and financing styles (debt, equity and mezzanine). The LPActive Value Fund is also broadly diversified regionally with exposure to private equity transactions in Asia, Europe, North America and the UK.
NAV/unit
EUR
YTD

Lowest/Highest NAV
/
/
NAV
EUR
in millions
Fund management / Fund administrator
MultiConcept Fund Management S.A.
Custodian
Credit Suisse (Luxembourg) S.A.
Investment Manager
LPX AG / PMG Fonds Management AG
Auditor
PricewaterhouseCoopers
Supervisory authority
CSSF
Domicile
Luxembourg
Fiscal year end
31. December
Launch date
February 20th 2015
Valuation frequency
daily
Distribution policy
distributing
Publication medium
www.swissfunddata.ch, www.pmg.swiss
ISIN
LU1162521717
Valor
26834899
Bloomberg
PPFAVEA LX
Subscription category
shares and amount
Minimal initial subscription
1
Reference currency
EUR
Cut-off time for subscription
17:00
Distribution in Switzerland
yes
Distribution in Germany
yes
Subscription fee maximum
none
Redemption fee maximum
none
TER excluding performance fee
2.04%
TER including performance fee
2.04%
TER date
December 31st 2021
Management fee applied
1.50%
German tax category
transparent
Presentation
Fund prospectus
KIID
Annual report
Semi-annual report
Factsheets
Management commentary
German Investor Fund Tax Information

Description

The objective of the LPActive Value Fund is to identify undervalued private equity companies through an active selection process. The fund focuses on those listed private equity companies that have a comfortable liquidity position, an attractive discount on their intrinsic value and an experienced management team. The fund gives investors access to around 900 direct investments and well over 200 private equity funds. The selection for the LPActive Value Fund is based on the following criteria:

The LPActive Value Fund only invests in listed private equity shares for which the LPX Group can make a clear statement on the structure and value of the portfolio within the framework of a specially developed net asset value (NAV or intrinsic value) model.

The focus is on stocks with a good historical NAV performance (i.e. a good track record) and an excellent management team. Management quality is continuously assessed by the LPX Group research team.

The fund prefers internally managed listed private equity companies which invest directly in private companies and in some cases operate an additional fund management business which generates additional income for the investor (general partner income).

The current premiums / discounts are calculated continuously (LPX live NAV). The LPX Group analyses these in comparison with the relevant peer group and assesses quantitatively and qualitatively whether they are justified.

Key figures such as liquidity position and financing structure are central components of the investment strategy of the LPActive Value Fund. Off-balance sheet liabilities such as commitments are also taken into account.

The portfolio of the LPActive Value Fund is highly diversified in terms of vintages, investment styles (buyout, growth and venture) and financing styles (debt, equity and mezzanine). The LPActive Value Fund is also broadly diversified regionally with exposure to private equity transactions in Asia, Europe, North America and the UK.

Fund Characteristics

Fund management / Fund administrator
MultiConcept Fund Management S.A.
Custodian
Credit Suisse (Luxembourg) S.A.
Investment Manager
LPX AG / PMG Fonds Management AG
Auditor
PricewaterhouseCoopers
Supervisory authority
CSSF
Domicile
Luxembourg
Fiscal year end
31. December
Launch date
February 20th 2015
Valuation frequency
daily
Distribution policy
distributing
Publication medium
www.swissfunddata.ch, www.pmg.swiss
ISIN
LU1162521717
Valor
26834899
Bloomberg
PPFAVEA LX
Subscription category
shares and amount
Minimal initial subscription
1
Reference currency
EUR
Cut-off time for subscription
17:00
Distribution in Switzerland
yes
Distribution in Germany
yes
Subscription fee maximum
none
Redemption fee maximum
none
TER excluding performance fee
2.04%
TER including performance fee
2.04%
TER date
December 31st 2021
Management fee applied
1.50%
German tax category
transparent

Documents

Presentation
Fund prospectus
KIID
Annual report
Semi-annual report
Factsheet
Management commentary
German Investor Fund Tax Information