Standard Life European Private Equity Trust wins award

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Standard Life European Private Equity Trust wins award

The Investment Trust Magazine Awards for 2005 have named the Standard Life European Private Equity Trust (Slepet) the best product of its kind, Standard Life has stated today.

A total share price return of 63.9 per cent was delivered by the trust in 2005 – more than twice the sector average

The year also brought a 32 per cent increase in net asset value (NAV) per share for the package, from 119.7p in December 2004 to 158.5p at the end of 2005.

Johnny Maxwell, chief executive of Standard Life private equity investment, said: "Against a background of a strong European private equity Slepet has performed well, enjoying an excellent year of growth in share price, NAV and distributions received."

The Standard Life European Private Equity Trust takes a fund of funds approach to investment, by placing money in private equity packages run by leading European product managers.

Standard Life Investments has assets under management of £118.8 billion and controls about 1.8 per cent of the UK stock market, as calculated on December 31st 2005.