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EQS-News: Edison Investment Research Limited / Key word(s): Research Update Edison Investment Research Limited: Edison issues review on Deutsche Beteiligungs (DBAN) 21-Apr-2017 / 15:38 GMT/BST London, UK, 21 April 2017 *Edison issues review on Deutsche Beteiligungs (DBAN)* Deutsche Beteiligungs (DBAG) has continued into FY17 the strong pace of portfolio activity achieved in the previous two financial years, with c EUR63m of transactions in the year to date, representing the second highest annual level of new investment in more than 10 years. Following DBAG Fund VI's investment period closing in January 2017, DBAG Fund VII has made a rapid start, with its first two transactions agreed in March and April 2017. The recent strength of transaction activity means that DBAG's portfolio is relatively immature, but investments are well spread by vintage and the portfolio is not overly concentrated, with the top five holdings representing 41% of portfolio value at end-2016. DBAG shares are trading at a 34.1% premium to end-December 2016 NAV, which compares with a one-year average premium of 23.1% and a recent peak premium of 43.5%. In our view, the c EUR130m premium largely represents the market-implied value of DBAG's fund services business, which is not reflected in reported NAV. DBAG's 3.5% dividend yield is slightly above the peer group median. Click here [1] to view the full report. All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com [2] *About Edison:* Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority [3]. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. *Contact details:*Learn more at www.edisongroup.com [4] and connect with Edison on: +--------+-----------------------------------------------------------+ |LinkedIn|https://www.linkedin.com/company/edison-investment-research| | |[5] | +--------+-----------------------------------------------------------+ |Twitter |www.twitter.com/Edison_Inv_Res [6] | +--------+-----------------------------------------------------------+ |YouTube |www.youtube.com/edisonitv [7] | +--------+-----------------------------------------------------------+ Dissemination of a UK FINANCIAL NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. End of Announcement - EQS News Service 566381 21-Apr-2017 1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=001ae6d4c8a03adb17b8aea68a35b1d1&application_id=566381&site_id=vwd&application_name=news 2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e7266211cbf0b72f2b3d94ab8bdaae97&application_id=566381&site_id=vwd&application_name=news 3: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=105fe9be9b5e36892886e5a39d51d4b7&application_id=566381&site_id=vwd&application_name=news 4: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=88c95533002fab2316572f9ef6cf3cc6&application_id=566381&site_id=vwd&application_name=news 5: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=270eac8c8f1b87a6a90ebfd8faf2c3f7&application_id=566381&site_id=vwd&application_name=news 6: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=ec2d264fe4f303e2143a2e85c6eaa823&application_id=566381&site_id=vwd&application_name=news 7: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=6b959e4d7ee3c402b931a274d2bbe945&application_id=566381&site_id=vwd&application_name=news
(END) Dow Jones Newswires
April 21, 2017 10:39 ET (14:39 GMT)
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