Electra seen as top pick for private equity

Private equity trust Electra saw its share price fall by 10.1% in the second quarter, although it still fared better than the FTSE All Share which was down by some 12%.    

Over the three months to 30 June the investment company’s share price dipped to 1,206p. However, over 12 months it remains in positive territory, up 28.3%.

While the trust marginally outperformed its benchmark over the quarter, beating it by 0.6%, it outstripped the FTSE All Share Index by 11.2% in the 12 months to the end of June.

The investment company, which trades at a discount of 30.8%, is poised to increase its investments over the coming months.

‘Electra Partners has a pipeline of investment opportunities which is likely to result in an increase in new investment,' the trust’s chair Colette Bowe said in a statement earlier today.

According to its latest set of results Electra has £229 million investment capacity.

Oriel Securities believes this –combined with its revised net asset value (NAV) per share of 1873p, based on the NAV figure calculated at 31 March 2010 - are positive for the trust.