HgCapital Trust PLC Edison issues review on HgCapital Trust (HGT)
December 22 2020 - 06:43AM
RNS Non-Regulatory
TIDMHGT
HgCapital Trust PLC
22 December 2020
London, UK, 22 December 2020
Edison issues review on HgCapital Trust (HGT)
HgCapital Trust (HGT) continues to outperform its benchmark over
the short and long term, with NAV total return strongly increasing
c 20% in the nine months to end-September 2020 (vs a fall of c 20%
for the FTSE All-Share Index in the period). Following a record
amount of investments and realisations in FY20, we estimate HGT's
commitment ratio stood at 60% in mid-December (vs 48% on average
between 2015 and 2019), supported by a new GBP200m credit facility
that it secured in early October 2020. The manager expects
transaction activity to remain high and highlights his confidence
in the value creation potential of HGT's software and technology
portfolio, driven by the ongoing digitalisation of businesses,
accelerated by COVID-19.
HGT's shares continue trading broadly in line with its NAV,
which we believe is underpinned by its strong track record and the
solid long-term fundamentals of its tech and software portfolio.
The shares now offer an LTM dividend yield of 1.7%.
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For more information please contact Edison:
Milosz Papst, +44 (0) 20 3077 5700
Richard Williamson, +44 (0) 20 3077 5700
investmenttrusts@edisongroup.com
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