Investment Companies Daily

研报英文原文证据摘录

Investment Companies Daily

C A Z E N O V E Europe Equity Research

22 July 2026

UK June inflation, NBPE June NAV, RCP tender offer,

HGT new investment, CVCE/CVCG fundraise result,

GABI redemption, RMMC manager resigns, HRI

interims/reinstating at OW

• UK: Core inflation steady in June (Allan Monks) - Headline inflation fell European Investment Companies

AC to 2.6%oya, but is set to swing back above 3% by 4Q due to higher energy Christopher Brown

prices. Core held at 2.6%, but underlying services firmed after a recent soft (44-20) 7134-4722

patch. Recent inflation undershoots buy the BoE time for now, but pressure is christopher.brown@jpmorgan.com

set to increase in 2H26. The full note is available here. Adam Kelly, CFA

• NB Private Equity (NBPE, Overweight) - June NAV - NBPE has announced (44-20)adam.kelly@jpmorgan.com7742-9526

its 30/6/26 NAV which was $27.48/2,070pps, representing a 1.0% increase in J.P. Morgan Securities plc

USD terms. NBPE’s NAV is 1.3% ahead of JPMe 2,044pps as at 30/6/26.

NBPE attributes the NAV movement as +1.2% updated private company Investment companies Research

valuation information, +0.2% quoted investment valuation movements, -0.6% homepage -click here

forex, -0.3% expense accruals, +0.5% accretion to NAV per share from

buybacks. Within the underlying portfolio, 11% of investments are valued as

at 30/6/26 of which 5% pts are private direct investments and 6% are the quoted Largest movers over the last week (%)

securities. 2% of investments are valued as at 31/5/26 and 87% of the Schiehallion Fund -10.1

Geiger Counter -7.5

investments are valued as at 31/3/26. In June 2026, NBPE received $35m of Gore Street Energy Storage Fund -7.0

realisation proceeds consisting of cash received from the previously RM Infrastructure Income -6.6