Short video with commentary on today's results. It features HVPE's Director of Investment & Operations Richard Hickman:
The opening observations are somewhat misleading: 'Over the last 6 months we've had 7.1% growth in US dollars which is the equivalant to 15% growth in sterling.'
This cannot possibly be true as the current exchange rate is around $1.29 to £1 rather than the implied $2.10 .
Leaving aside the suspect maths, I think Harbourvest Global Private Equity (LON:HVPE) is a good alternative investment with a NAV discount of 34% and the hope of further profitable returns. Annual management fees are 2.9% but this is not unreasonable in the world of private equity where the managers need to be well above average.
I hold.
