HarbourVest Global Private Equity (HVPE) has announced its annual results for the year ended 31 January 2021, during which it has provided NAV per share increase of 30.4% over the financial year – the largest 12-month increase in HVPE’s 13-year history. It says that this compares against a return of 17.4% for its FTSE All-World Index Benchmark.
During the period, there was a $682.3 million net gain on investments, contributing to an overall increase in net assets of $669.8 million. Of the $682.3 million, the majority – 84% – came from unrealized growth within the portfolio. This compares with a $289.3 million net gain on investments and an overall increase in net assets of $278.7 million for the 12 months to 31 January 2020. The higher overall net gains in this reporting period compared with the same period last year reflect the strong performance of the underlying portfolio, particularly in overweight exposures such as technology and, to a lesser extent, healthcare. At 31 January 2021, the top 100 companies in the portfolio represented 35.3% of the Investment Portfolio and the top 1,000 companies represented 84.6%.
