Investment Portfolio

Each underlying Private Equity fund commitment or direct co-investment made by VPEG3 will be valued on a monthly basis in accordance with the International Private Equity Investment Valuation Guidelines, endorsed by the Australian Investment Council (AIC). As a result, each underlying private equity investment held by each VPEG3 entity is valued monthly, with individual company investments valued on a multiple of earnings basis, with all valuations independently audited at least annually and often more frequently. VPEG3’s monthly valuations therefore represent a transparent summary of the performance of its underlying portfolio.

Vantage Private Equity Growth 3 – Monthly Valuations
Over time and during the term of the Fund, Capital Calls will be made by Vantage to each Investor with the Called Funds applied towards meeting the call payment obligations for each Underlying Private Equity Investment of the Fund, or to meet working capital requirements of the Fund. As each Capital Call is paid by an Investor, or drawn from the cash management trust, to the Fund, the Paid Capital of each Investor increases such that the Paid Capital is equal to the aggregate of Called Capital less any distributions paid by the Fund to Investors.

VPEG3 (the Fund), consists of two investment entities, Vantage Private Equity Growth 3, LP (VPEG3, LP) and Vantage Private Equity Growth Trust 3A (VPEG3A).

The current investment portfolio allocation, Paid Capital and Net Asset Value (NAV) per dollar of Committed Capital to VPEG3 is displayed below:

Vantage Private Equity Growth 3, LP
Month Ending Cash Fixed Interest Investments Private Equity (Value) Paid Capital / $ of Committed Capital to VPEG3 NAV / $ of Committed Capital to VPEG3
31-Aug-20 1.7% 0.0% 98.3% 0.556 0.444
31-Jul-20 1.5% 0.5% 98.0% 0.556 0.446
30-Jun-20 2.1% 2.8% 95.1% 0.556 0.450
31-May-20 13.4% 9.0% 77.6% 0.661 0.532
30-Apr-20 19.8% 3.8% 76.5% 0.661 0.535
31-Mar-20 7.4% 6.1% 86.5% 0.530 0.419
29-Feb-20 3.6% 9.6% 86.8% 0.530 0.437
31-Jan-20 2.8% 11.0% 86.2% 0.530 0.442
31-Dec-19 3.9% 10.8% 85.3% 0.530 0.445
30-Nov-19 2.1% 13.9% 84.0% 0.530 0.433
31-Oct-19 0.4% 22.2% 77.4% 0.530 0.432
30-Sep-19 22.2% 0.4% 77.4% 0.530 0.439
31-Aug-19 6.4% 0.7% 93.0% 0.380 0.285
31-Jul-19 11.4% 2.3% 86.3% 0.380 0.288
30-Jun-19 0.4% 4.0% 95.6% 0.330 0.247
31-May-19 1.1% 8.5% 90.4% 0.330 0.245
30-Apr-19 0.6% 10.0% 89.4% 0.330 0.248
31-Mar-19 0.3% 1.2% 98.5% 0.250 0.174
28-Feb-19 1.5% 4.1% 94.4% 0.250 0.178
31-Jan-19 19.8% 4.0% 76.2% 0.250 0.183
31-Dec-18 21.4% 3.9% 74.7% 0.250 0.189
30-Nov-18 1.7% 15.3% 83.0% 0.200 0.135
31-Oct-18 5.1% 15.3% 79.6% 0.200 0.135
30-Sep-18 4.2% 26.3% 69.5% 0.200 0.139
31-Aug-18 3.0% 28.8% 68.2% 0.200 0.135
31-Jul-18 18.2% 10.8% 71.0% 0.200 0.137
30-Jun-18 19.4% 33.8% 46.8% 0.200 0.139
31-May-18 0.8% 51.7% 47.5% 0.200 0.141
30-Apr-18 3.8% 55.2% 41.0% 0.200 0.144
31-Mar-18 49.1% 8.8% 42.1% 0.200 0.146
28-Feb-18 47.2% 9.1% 43.7% 0.200 0.150
31-Jan-18 46.3% 9.0% 44.7% 0.20 0.154
31-Dec-17 21.6% 3.2% 75.2% 0.10 0.057
30-Nov-17 26.9% 2.5% 70.6% 0.10 0.063
31-Oct-17 78.4% 2.8% 18.8% 0.10 0.068
30-Sep-17 12.6% 12.4% 75.0% 0.05 0.014
31-Aug-17 15.8% 15.0% 69.2% 0.05 0.014
31-Jul-17 22.7% 74.7% 2.6% 0.05 0.016
30-Jun-17 6.1% 91.3% 2.6% 0.05 0.017
31-May-17 5.6% 86.5% 7.9% 0.05 0.020
30-Apr-17 3.1% 88.7% 8.2% 0.05 0.021
31-Mar-17 2.3% 97.7% 0.0% 0.05 0.022
28-Feb-17 0.1% 99.9% 0.0% 0.05 0.022
31-Jan-17 2.0% 98.0% 0.0% 0.05 0.036

As at 30 June 2020, only investors who are not Significant Investor Visa (SIV) investors in VPEG3, have paid Capital to VPEG3A equal to 23% of their total Committed Capital to VPEG3. The Issue Price of each unit in VPEG3A is $1.00 per unit.

The current investment portfolio allocation, Paid Capital and Net Asset Value (NAV) per Unit in VPEG3A is displayed below:

Vantage Private Equity Growth Trust 3A
Month Ending Cash Fixed Interest Investments Private Equity (Value) Paid Capital / $ of Committed Capital to VPEG3 NAV / Unit
31-Aug-20 0.0% 0.1% 99.9% 0.230 1.346
31-Jul-20 0.0% 0.0% 100% 0.230 1.350
30-Jun-20 0.0% 0.2% 99.8% 0.230 1.354
31-May-20 0.5% 0.2% 99.3% 0.125 0.893
30-Apr-20 38.4% 0.1% 61.4% 0.125 0.888
31-Mar-20 38.6% 0.2% 61.2% 0.125 0.892
29-Feb-20 0.0% 26.6% 73.4% 0.080 0.892
31-Jan-20 0.0% 25.7% 74.3% 0.080 0.902
31-Dec-19 0.0% 24.9% 75.1% 0.080 0.913
30-Nov-19 0.0% 25.1% 74.9% 0.080 0.893
31-Oct-19 0.0% 25.7% 74.3% 0.080 0.877
30-Sep-19 0.0% 25.9% 74.1% 0.080 0.879
31-Aug-19 0.4% 27.2% 72.4% 0.080 0.861
31-Jul-19 0.4% 27.3% 72.3% 0.080 0.864
30-Jun-19 0.3% 30.8% 68.9% 0.080 0.927
31-May-19 0.3% 31.0% 68.7% 0.080 0.877
30-Apr-19 0.0% 31.4% 68.6% 0.080 0.882
31-Mar-19 0.3% 31.6% 68.1% 0.080 0.884
28-Feb-19 35.1% 0.4% 68.1% 0.080 0.890
31-Jan-19 31.3% 0.4% 68.3% 0.080 0.888
31-Dec-18 29.9% 0.4% 69.7% 0.080 0.871
30-Nov-18 3.6% 0.5% 95.9% 0.060 0.931
31-Oct-18 4.2% 0.5% 95.3% 0.060 0.889
30-Sep-18 9.8% 19.7% 70.6% 0.060 0.896
31-Aug-18 4.1% 20.9% 75.0% 0.060 0.893
31-Jul-18 1.7% 21.0% 77.3% 0.060 0.902
30-Jun-18 31.6% 13.0% 55.4% 0.060 0.896