Scherzer & Co - Successful conclusion of AXA case
Scherzer’s (PZS) NAV at end August 2020 increased by 12.6% ytd, ahead of German equity markets, which were roughly flat compared to end FY19. The main NAV uplift came from profit derived from the ECS portfolio and Audi’s squeeze-out price announcement. The impact of PZS's portfolio management on its P&L was only marginally positive, as valuations remain depressed and companies reduce dividends in uncertain times. Under current accounting standards, PZS’s NAV growth may lag that of the broader market until investments are realized. Also, a significant part of the portfolio is ‘locked’ in anticipation of squeeze-outs, which on execution will have a positive impact on the P&L and enhance the ECS portfolio.Scherzer & Co AG is a Germany-based investment company that invests in third companies. The Company focuses on both growth companies and companies in special situations.
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, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.