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HgT (LSE: HGT)

Last close As at 18/04/2024

GBP4.75

▲ −5.00 (−1.04%)

Market capitalisation

GBP2,175m

HgT’s investment objective is to provide shareholders with consistent long-term returns in excess of the UK All-Share Index by investing predominantly in unquoted companies where value can be created through strategic and operational change.

Latest Insights

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Investment Companies | Update

HgT — Strong earnings growth and realisations in FY23

Investment Companies | audiovisual

Uncovering Trusts – HgT

Investment Companies | Flash note

HgT — Preliminary FY23 NAV TR at 10.7%

Investment Companies | Update

HgCapital Trust — Seizing ‘buy-and-build’ opportunities
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Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Katherine Thompson

Key Management

  • Laura Dixon

    Senior Investor Relations Manager

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 5.6 10.0 44.4
Relative 3.8 4.6 44.6
52 week high/low 491.5p/328.5p

Overview

HgCapital Trust (HgT) posted an 11.1% NAV total return in FY23 (based on final audited numbers), which allowed it to sustain strong five- and 10-year returns of 20.4% and 18.4% pa, respectively. This has been mostly driven by robust earnings momentum across its portfolio. HgT defied the tough private equity exit environment, generating £345.9m of total realisation proceeds excluding carried interest in FY23. Moreover, it has a healthy commitment coverage ratio of 73% (based on current pro forma figures). The market has rewarded HgT through a narrowing discount to NAV, which now stands at c 6% (vs c 22% at end-2022).

Research

audiovisual

Investment Companies

Uncovering Trusts – HgT

Flash note

Investment Companies

HgT — Preliminary FY23 NAV TR at 10.7%

Investment Companies

Update

HgT — Strong earnings growth and realisations in FY23

Update

Investment Companies

HgCapital Trust — Seizing ‘buy-and-build’ opportunities

Review

Investment Companies

HgCapital Trust — High quality, high growth, high margin

Update

Investment Companies

HgCapital Trust — Improving its commitment coverage ratio

Update

Investment Companies

HgCapital Trust — NAV resilient, but near-term outlook uncertain

Update

Investment Companies

HgCapital Trust — Business as usual for boring but critical tech

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Investment Companies

HgCapital Trust – The King of ‘Dulltech’

Review

Investment Companies

HgCapital Trust — The King of ‘Dulltech’

Update

Investment Companies

HgCapital Trust — NAV total return of 36% in 9M21
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Further insights

insight

Why some may have missed this European tech opportunity

Analyst of the week

Melanie Jenner

Mel Jenner

Director, Investment Trusts

mjenner@edisongroup.com
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