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from Hardman & Co Research (isin : GB00BYYW9G87)

Hardman & Co Research on Apax Global Alpha (APAX): Resilience in face of rising interest rates

Hardman & Co Research
Hardman & Co Research on Apax Global Alpha (APAX): Resilience in face of rising interest rates

25-Sep-2023 / 14:45 GMT/BST
The issuer is solely responsible for the content of this announcement.


Hardman & Co Research on Apax Global Alpha (APAX):

Resilience in face of rising interest rates

 

The interim  results to June 2023 reconfirmed AGA’s core strengths, notably i) Apax enhances the operational performance of the funds’ investments ‒ LTM revenue and EBITDA growth of 16.0% and 14.1%, respectively, are, we believe, ahead of the market, albeit slowing in 2Q, ii) a 24% uplift on exits, proving conservative accounting and that the NAV is realistic, iii) a 2.4% NAV return, with the five-year 12.4% annualised return, and iv) the Debt portfolio proved its worth, with diversified, more stable returns, and generating cash to pay the dividend. Despite rising interest rates, the investee companies, Apax Funds and the trust itself have shown great resilience.

 

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https://hardmanandco.com/research/corporate-research/resilience-in-face-of-rising-interest-rates/

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Contact:

Mark Thomas



 

 

mt@hardmanandco.com

 

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End of Announcement - EQS News Service

1733829  25-Sep-2023 

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