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VALUE OF THE PORTFOLIO
INVESTMENT PORTFOLIO RETURN (LOCAL CURRENCY)
INVESTMENT PORTFOLIO RETURN (STERLING)
Nine months ended 31 October 2019
Strong performance across the portfolio
Continued strong operating performance, and realisations at meaningful uplifts to carrying value, generated a Portfolio return of 12.6% for the nine months, or 12.4% in sterling.
The portfolio remains cash generative, with 41 full realisations and £108m of proceeds received. On average, realisations were made at an average uplift to carrying value of 34% and at a 2.3x multiple of cost. New investments totalled £110m for the nine months, of which high conviction investments represented 37% of capital deployed, including four new co-investments, three in the US and one in Europe.