Edison Issues Initiation on Altamir

LONDON, March 11, 2016 /PRNewswire/ --

Altamir (LTA) invests in and alongside European and global funds managed by private equity specialists, Apax Partners, whose approach is differentiated by sector specialisation - key in gaining insight and creating a wide network to facilitate transactions. Relatively concentrated company exposures demonstrate conviction in investment selections but the portfolio is well spread by sector and vintage. Altamir reported a 19.1% NAV increase in 2015 and has delivered NAV total returns ahead of the LPX Europe index over one, three, five and 10 years while the 10-year average valuation uplift on realisations of over 40% supports the contention that portfolio valuations are conservative. A wide discount to NAV and the 5.4% yield are further points for potential investors to consider.

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Altamir's share price discount to NAV narrowed to less than 20% during 2014 but now stands at 44.6% despite the strong NAV performance in 2015. There may therefore be scope for a material narrowing on the back of more positive market sentiment or the announcement of further successful realisations. Altamir's current yield of 5.4% is one of the highest in its peer group.  

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All reports published by Edison are available to download free of charge from its website http://www.edisoninvestmentresearch.com.

About Edison: We are an international equity advisory firm. We enable our client companies to achieve their capital market objectives. The team is made up of more than 80 analysts and investment professionals with many decades of experience. Our extensive company knowledge and industry expertise spans 10 business sectors and more than 700 listed companies globally. We give our corporate clients and investors privileged insight into global investment trends. Our distribution capability is key to ensuring a global investor audience can access our investment knowledge. Edison is authorised and regulated by the Financial Conduct Authority.

   
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For more information please contact:
Gavin Wood, Edison Investment Research, +44-(0)20-3681-2503
Andrew Mitchell, Edison Investment Research, +44-(0)20-3681-2500 [email protected]

SOURCE Edison Investment Research

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