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HarbourVest NAV down 1.1 per cent in June

HarbourVest Global Private Equity, a closed-end investment company, had an estimated economic net asset value of USD709.4m or USD8.55 per share as at 30 June 2010. 

This represents a 1.1 per cent decrease from the 31 May 2010 estimated economic NAV per share of USD8.64. 

This change resulted from a gain accrued upon the purchase of a new secondary investment, offset by public holding decreases, foreign currency movement, operating expenses, and non-recurring expenses reflecting all costs associated with the liquidity plan.

During an active month for cashflows, HarbourVest funded USD25.2m of capital calls (up from USD8.0m in May) and received USD26.9m in distributions (up from USD2.0m in May). 

This resulted in net positive cash flow of USD1.7m. HarbourVest’s cash flow has been positive for five of the last seven months.

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