UK - UK private equity funds have outperformed pension fund returns and the principal stock market indices over the medium to long-term, a new survey reveals.
The BVCA Performance Measurement Survey 2003 – carried out by PricewaterhouseCoopers in conjunction with the British Venture Capital Association and Westport Private Equity – shows net returns of independent UK private equity funds were 14.2% per annum in the 10 years ending December 2003.
This compares with 6.4% for Total UK Pension Funds Assets over the same period, according to the WM Company.
Over three, five and 10 years, total UK private equity outperformed all FTSE indices. Generalist funds were the best-performing category in 2003.
The overall long-term net “since inception” return for investors was 13.6% per annum on funds raised between 1980 and 1999, measured to the end of 2003.
All the BVCA firms which manage funds eligible for the report took part in the survey.
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