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Pengana Private Equity Trust Says Long-Term Investment Case for SpaceX Remains Compelling; Shares Up 3%

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Pengana Private Equity Trust (ASX:PE1) expects continuing volatility in SpaceX stock, but the long-term investment case remains compelling, according to a Thursday ASX filing.

The firm returned net asset value (NAV) per unit of negative 10.3% in July, with the majority of the decline attributable to SpaceX, and the balance of the negative return largely due to the appreciation of the Australian dollar against the US dollar. SpaceX stock fell sharply below its listing price in July, but staged a recovery in August.

Its shares were up over 3% in recent trading on Thursday.

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