Half Year 2019 Apax Global Alpha Ltd Earnings Call Transcript
Ladies and gentlemen, welcome to the Apax Global Alpha's 2019 Interim Results Webcast. My name is Charlotte, and I will be coordinating your call today. (Operator Instructions)
I will now hand over to your host, Ralf Gruss, to begin. Ralf, please go ahead.
Thank you, and good morning, everyone, and also thanks for joining the 2019 interim results call of AGA. My name is Ralf Gruss. I'm the COO of Apax Partners and a member of AGA's Investment Committee. I will take you through the presentation and as usual I'll answer any questions you might have at the end of the call.
Let's start with the financial highlights. AGA performed very strongly over the last 6 months. The total NAV return was the strongest since IPO, at 13.4% for the 6 months' period. So effectively AGA has met its long-term target return range already within the first 6 months of the year. Over a 12-month period, returns have also been very good at 14.4%.
So what are the key items to highlight in this context? First of
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