HgT (LSE: HGT)

Last close As at 04/03/2024

GBP4.50

9.50 (2.16%)

Market capitalisation

GBP2,021m

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 | Flash note

HgT — Preliminary FY23 NAV TR at 10.7%

Investment Companies | Update

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

Investment Companies | Review

HgCapital Trust — High quality, high growth, high margin

Investment Companies | Update

HgCapital Trust — Improving its commitment coverage ratio

Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Key Management

  • Laura Dixon

    Senior Investor Relations Manager

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 2.1 9.3 21.2
Relative 2.3 6.4 25.3
52 week high/low 448.5p/320.5p

Overview

HgT’s preliminary unaudited FY23 trading update reported a 10.7% net asset value total return (NAV TR) in FY23 (of which c 1% in Q423). This was supported by continued strong trading across its portfolio, with the top 20 holdings (representing 77% of the portfolio’s value) posting average revenue and EBITDA growth of 25% and 28% respectively. HgT therefore sustained its multi-year track record of delivering c 20–30% pa revenue and EBITDA growth. Despite muted global M&A activity and private equity exits, HgT had a good level of liquidity events in FY23 with £343m of proceeds from exits and refinancings. The discount narrowing from 23% to 13% during FY23 (now c 14%) translated into a share price TR of 26.2%.

Research

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

edison tv

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

Update

Investment Companies

HgCapital Trust — Strong momentum continues

Review

Investment Companies

HgCapital Trust — Posting a 24% NAV total return in FY20

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