Dunedin Enterprise Investment Trust

Termination of coverage

7 December 2016

Edison Investment Research is terminating coverage on Dunedin Enterprise Investment Trust (DNE). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. MORE »

Realisations in prospect

5 October 2015

Dunedin Enterprise Investment Trust (DNE) is a private equity investment specialist differentiated from peers by its focus on UK lower mid-market buyouts. While recent performance has been muted with no significant sale transactions in the last two years, the current maturity of the portfolio and favourable market conditions raise expectations for near-term realisations. As well as the potential valuation uplift from portfolio exits adding to returns, there is the prospect of share buybacks and special dividends to distribute capital gains to shareholders. MORE »

Mature portfolio raises realisation prospects

1 May 2015

Dunedin Enterprise Investment Trust (DNE) is a private equity investment specialist, which is differentiated from peers by its focus on UK lower mid-market buyouts. Three of the top five portfolio companies saw significant valuation uplifts driven by strong earnings growth in 2014 and, while overall performance was held back by disappointing developments at two companies in particular, these issues have been addressed. The majority of portfolio companies are budgeting higher earnings in 2015 and DNE’s relatively mature portfolio provides the prospect of an increase in realisations that could enhance NAV performance in the current year. MORE »

UK buyout market expected to strengthen in 2015

18 November 2014

For the first nine months of 2014, Dunedin Enterprise Investment Trust (DNE) reported a modestly lower NAV. Two portfolio companies saw significant valuation uplifts driven by strong earnings growth, but these were offset by a net NAV reduction across other holdings. Disappointing developments at two companies in particular have been addressed, with one company sold during the period. Most portfolio companies are forecasting higher profits for 2014 and the manager reports a number of potential investments currently being considered, with the UK buyout market expected to strengthen in 2015 after a relatively quiet period. MORE »