Despite strong results which saw total share price and NAV returns of around 35%, trust analysts remain critical of the £2.3bn Electra Private Equity trust as it continues to make moves which "make no sense" as part of its strategic review.
Electra Private Equity has had a busy year, having commenced its first strategic review in over a decade in January, at the behest of activist investor Sherborne, led by Edward Bramson (pictured), which has around a 30% stake in the fund. In its annual results reporting over the year to 30 September, the trust saw a total return of 35% in NAV terms and a total return 36% in share price terms. But trust analysts are still concerned by some of the decisions made as a part of the review such as the board's decision to terminate its contract with managers EPIRIS (formerly Electra Partners...
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