HgT - Edison Group

Overview
Price performance
Financials
Research
Sector insights
Thematics

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

Investment Companies |
Update

22.03.24

HgT — Strong earnings growth and realisations in FY23

Investment Companies |
audiovisual

22.03.24

Uncovering Trusts – HgT

Investment Companies |
Flash note

05.02.24

HgT — Preliminary FY23 NAV TR at 10.7%

Investment Companies |
Update

22.09.23

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

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Sector

Investment Companies

Equity Analyst

Milosz Papst

Director, Financials

Katherine Thompson

Director

Key Management

Laura Dixon

Senior Investor Relations Manager

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(1.9)	8.3	39.5
Relative	(2.8)	1.7	37.4
52 week high/low	491.5p/330.0p

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).