UK investment trust Net Investor has officially changed its name to Private Equity Investor, following approval from firm’s shareholders at the annual general meeting held in July. The reason for the name change was that the board felt that Net Investor inadequately reflected the firm’s investment policy of committing to unquoted investment funds focusing on information technology.
Chairman Barbara Thomas said the original name was too narrow and to some audiences too easily misunderstood as a dot.com. She added: “The change is designed to reflect the reality of what we do – invest on our shareholder’s behalf in funds managed by some of the foremost and most experienced venture capitalists in the US.”
The investment trust commits primarily to technology-focused US venture capital funds with the objective of seeking long-term capital growth for the holders of ordinary shares in this sector.