Tetragon Financial Group

AMS: TFG

Market Cap$1,348m

Last Close $9.65

Tetragon Financial Group’s objective is to generate distributable income and capital appreciation, aiming to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. Tetragon’s investment portfolio comprises a broad range of assets, including public and private equities and credit, real estate, venture capital, infrastructure, bank loans and a diversified alternative asset management business.

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Investment summary

Tetragon Financial Group’s (Tetragon’s) NAV declined 1.0% in Q322 and 4.5% in 9M22 in total return terms (compared to declines of 6.5% and 26.4% in the MSCI ACWI, respectively). The best performing asset classes in Q322 were TFG Asset Management (driven by BentallGreenOak’s revaluation) and private equity (especially funds managed by Hawke’s Point). Meanwhile, the other equities and credit asset class (consisting predominantly of listed equity) remains a negative contributor. Tetragon continues its distributions to shareholders, with US$30m ytd in quarterly dividends (declared Q422 DPS stable quarter-on-quarter, implying a 4.6% yield) and US$42m in share repurchases (with a further tender offer of up to US$25m to be conducted in Q422).

Content on Tetragon Financial Group
Tetragon Financial Group – Comfortable liquidity situation
Investment companies | research Update | 23 November 2022
Building 1
Tetragon Financial Group – More resilient than public equities in H122
Investment companies | research Review | 26 August 2022
Building 1
Tetragon Financial Group – Offering a diverse exposure to alternative assets
Investment companies | research Outlook | 27 June 2022
Building 1
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Share price graph
Price performance
%
1m
3m
12m
Actual 5.5 (5.9) 10.9
Relative* (0.8) (6.4) 8.8
52-week high/low US$10.4/US$8.3
*% relative to local index
Key management
David O’Leary Independent Directors
Deron Haley Independent Directors
Paddy Dear Co-Founder and Director
Reade Griffith Co-Founder, Director & Head of Inv. Committee
Stephen Prince Head of TFG Asset Management
Steven Hart Independent Directors