Investment Value

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

VPEG3 CONSOLIDATED NAV
Month Ending Cash Fixed Interest Investments Private Equity (Value) Paid Capital NAV Distributions Paid Cumulative Distributions Paid
30-Jun-21 6.5% 1.3% 92.2% 0.87 1.248 0.03
31-May-21 7.2% 1.7% 91.1% 0.87 1.170 0.03
30-Apr-21 7.6% 3.2% 89.2% 0.87 1.175 0.03
31-Mar-21 4.3% 3.1% 92.5% 0.87 1.162 0.03
28-Feb-21 1.2% 4.0% 94.8% 0.87 1.116 0.03 0.03
31-Jan-21 1.2% 3.0% 95.9% 0.87 1.121
31-Dec-20 1.3% 5.4% 93.3% 0.87 1.143
30-Nov-20 3.8% 0.9% 95.3% 0.87 0.876
31-Oct-20 0.2% 1.1% 98.7% 0.8 0.815
30-Sep-20 0.0% 1.3% 98.7% 0.8 0.82
31-Aug-20 1.0% 0.0% 99.0% 0.78 0.754
31-Jul-20 0.9% 0.3% 98.8% 0.78 0.757
30-Jun-20 1.2% 1.7% 97.0% 0.78 0.761
31-May-20 11.2% 7.5% 81.4% 0.785 0.644
30-Apr-20 22.9% 3.2% 73.9% 0.785 0.646
31-Mar-20 14.0% 4.9% 81.2% 0.655 0.531
29-Feb-20 3.1% 12.0% 84.9% 0.61 0.508
31-Jan-20 2.4% 13.1% 84.5% 0.61 0.514
31-Dec-19 3.4% 12.8% 83.9% 0.61 0.518
30-Nov-19 1.8% 15.5% 82.7% 0.61 0.504
31-Oct-19 0.3% 22.7% 77.0% 0.61 0.502
30-Sep-19 19.1% 3.9% 76.9% 0.61 0.509
31-Aug-19 5.2% 5.9% 89.0% 0.46 0.354
31-Jul-19 9.3% 7.1% 83.6% 0.46 0.357
30-Jun-19 0.4% 10.2% 89.4% 0.41 0.321
31-May-19 0.9% 13.5% 85.6% 0.41 0.315
30-Apr-19 0.5% 14.8% 84.8% 0.41 0.319
31-Mar-19 0.3% 10.0% 89.7% 0.33 0.245
28-Feb-19 10.1% 3.0% 86.9% 0.33 0.249
31-Jan-19 23.0% 3.0% 74.0% 0.33 0.254
31-Dec-18 23.7% 3.0% 73.3% 0.33 0.259
30-Nov-18 2.3% 11.0% 86.8% 0.26 0.191
31-Oct-18 4.8% 11.1% 84.0% 0.26 0.188
30-Sep-18 5.8% 24.5% 69.8% 0.26 0.193
31-Aug-18 3.3% 26.5% 70.1% 0.26 0.189
31-Jul-18 13.5% 13.7% 72.8% 0.26 0.191
30-Jun-18 22.8% 28.0% 49.2% 0.26 0.193
31-May-18 0.8% 51.7% 47.5% 0.2 0.141
30-Apr-18 3.8% 55.2% 41.0% 0.2 0.144
31-Mar-18 49.1% 8.8% 42.1% 0.2 0.146
28-Feb-18 47.2% 9.1% 43.7% 0.2 0.15
31-Jan-18 46.3% 9.0% 44.7% 0.2 0.154
31-Dec-17 21.6% 3.2% 75.2% 0.1 0.057
30-Nov-17 26.9% 2.5% 70.6% 0.1 0.063
31-Oct-17 78.4% 2.8% 18.8% 0.1 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 0.02
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

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

VPEG3, LP
Month Ending Cash Fixed Interest Investments Private Equity (Value) Paid Capital NAV Distributions Paid Cumulative Distributions Paid
30-Jun-21 7.7% 1.5% 90.7% 0.62 0.944 0.03
31-May-21 9.0% 1.7% 89.3% 0.62 0.874 0.03
30-Apr-21 9.1% 1.7% 89.3% 0.62 0.878 0.03
31-Mar-21 4.7% 1.7% 93.7% 0.62 0.867 0.03
28-Feb-21 0.3% 2.7% 97.0% 0.62 0.839 0.03 0.03
31-Jan-21 1.5% 9.9% 94.6% 0.62 0.842
31-Dec-20 1.9% 7.70% 90.4% 0.62 0.863
30-Nov-20 5.0% 1.0% 94.0% 0.62 0.649
31-Oct-20 0.0% 1.6% 99.2% 0.55 0.589
30-Sep-20 0.0% 1.4% 98.6% 0.55 0.593
31-Aug-20 1.7% 0.0% 98.3% 0.55 0.444
31-Jul-20 1.5% 0.5% 98.0% 0.55 0.446
30-Jun-20 2.1% 2.8% 95.1% 0.55 0.45
31-May-20 13.4% 9.0% 77.6% 0.66 0.532
30-Apr-20 19.8% 3.8% 76.5% 0.66 0.535
31-Mar-20 7.4% 6.1% 86.5% 0.53 0.419
29-Feb-20 3.6% 9.6% 86.8% 0.53 0.437
31-Jan-20 2.8% 11.0% 86.2% 0.53 0.442
31-Dec-19 3.9% 10.8% 85.3% 0.53 0.445
30-Nov-19 2.1% 13.9% 84.0% 0.53 0.433
31-Oct-19 0.4% 22.2% 77.4% 0.53 0.432
30-Sep-19 22.2% 0.4% 77.4% 0.53 0.439
31-Aug-19 6.4% 0.7% 93.0% 0.38 0.285
31-Jul-19 11.4% 2.3% 86.3% 0.38 0.288
30-Jun-19 0.4% 4.0% 95.6% 0.33 0.247
31-May-19 1.1% 8.5% 90.4% 0.33 0.245
30-Apr-19 0.6% 10.0% 89.4% 0.33 0.248
31-Mar-19 0.3% 1.2% 98.5% 0.25 0.174
28-Feb-19 1.5% 4.1% 94.4% 0.25 0.178
31-Jan-19 19.8% 4.0% 76.2% 0.25 0.183
31-Dec-18 21.4% 3.9% 74.7% 0.25 0.189
30-Nov-18 1.7% 15.3% 83.0% 0.20 0.135
31-Oct-18 5.1% 15.3% 79.6% 0.20 0.135
30-Sep-18 4.2% 26.3% 69.5% 0.20 0.139
31-Aug-18 3.0% 28.8% 68.2% 0.20 0.135
31-Jul-18 18.2% 10.8% 71.0% 0.20 0.137
30-Jun-18 19.4% 33.8% 46.8% 0.20 0.139
31-May-18 0.8% 51.7% 47.5% 0.20 0.141
30-Apr-18 3.8% 55.2% 41.0% 0.20 0.144
31-Mar-18 49.1% 8.8% 42.1% 0.20 0.146
28-Feb-18 47.2% 9.1% 43.7% 0.20 0.15
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 0.02
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% 99.90% 0.0% 0.05 0.022
31-Jan-17 2.0% 98.00% 0.0% 0.05 0.036

As at 31 Jan 2021, only investors who are not Significant Investor Visa (SIV) investors in VPEG3, have paid Capital to VPEG3A equal to 25% 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 dollar of Committed Capital to VPEG3 is displayed below:

VPEG3A
Month Ending Cash Fixed Interest Investments Private Equity (value) Paid Capital NAV Distributions Paid Cumulative Distributions Paid
30-Jun-21 3.3% 0.0% 96.7% 0.25 0.304
31-May-21 3.5% 0.0% 96.5% 0.25 0.296
31-Apr-21 3.7% 7.2% 89.1% 0.25 0.297
31-Mar-21 3.6% 7.4% 89.1% 0.25 0.295
28-Feb-21 4.0% 7.8% 88.2% 0.25 0.277
31-Jan-21 0.1% 0.1% 99.9% 0.25 0.279
31-Dec-20 0.1% 0.0% 99.9% 0.25 0.280
30-Nov-20 0.3% 0.8% 99.9% 0.25 0.227
31-Oct-20 0.6% 0.9% 98.6% 0.25 0.226
30-Sep-20 0.0% 1.1% 99.0% 0.25 0.227
31-Aug-20 0.0% 0.1% 99.9% 0.23 0.310
31-Jul-20 0.0% 0.0% 100.0% 0.23 0.311
30-Jun-20 0.0% 0.2% 99.8% 0.23 0.311
31-May-20 0.5% 0.2% 99.3% 0.125 0.112
30-Apr-20 38.4% 0.1% 61.4% 0.125 0.111
31-Mar-20 38.6% 0.2% 61.2% 0.125 0.112
29-Feb-20 0.0% 26.6% 73.4% 0.08 0.071
31-Jan-20 0.0% 25.7% 74.3% 0.08 0.072
31-Dec-19 0.0% 24.9% 75.1% 0.08 0.073
30-Nov-19 0.0% 25.1% 74.9% 0.08 0.071
31-Oct-19 0.0% 25.7% 74.3% 0.08 0.070
30-Sep-19 0.0% 25.9% 74.1% 0.08 0.070
31-Aug-19 0.4% 27.2% 72.4% 0.08 0.069
31-Jul-19 0.4% 27.3% 72.3% 0.08 0.069
30-Jun-19 0.3% 30.8% 68.9% 0.08 0.074
31-May-19 0.3% 31.0% 68.7% 0.08 0.070
30-Apr-19 0.0% 31.4% 68.6% 0.08 0.071
31-Mar-19 0.3% 31.6% 68.1% 0.08 0.071
28-Feb-19 35.1% 0.4% 68.1% 0.08 0.071
31-Jan-19 31.3% 0.4% 68.3% 0.08 0.071
31-Dec-18 29.9% 0.4% 69.7% 0.08 0.070
30-Nov-18 3.6% 0.5% 95.9% 0.06 0.056
31-Oct-18 4.2% 0.5% 95.3% 0.06 0.053
30-Sep-18 9.8% 19.7% 70.6% 0.06 0.054
31-Aug-18 4.1% 20.9% 75.0% 0.06 0.054
31-Jul-18 1.7% 21.0% 77.3% 0.06 0.054
30-Jun-18 31.6% 13.0% 55.4% 0.06 0.054