HgT - Preliminary H124 NAV total return of 5.6%
HgT has published its preliminary unaudited H124 trading update, reporting a 5.6% NAV total return (TR) in H124 (of which 3.0% was in Q124). HgT’s NAV TR remains primarily driven by the solid last 12-month top-line and EBITDA momentum, which stood at 20% and 25% to end-June 2024 across its top 20 companies (making up 78% of its portfolio value), compared to 24% and 29% at end-March 2024, respectively. Despite the still modest exit activity across the global private equity market, HgT collected £347m (or 15% of opening NAV) in proceeds from exits and refinancings in H124. Its discount to NAV closed recently, translating into a year to date share price TR of more than 20%.Hgcapital Trust is an investment trust company. The policy of Co. is to invest, directly or indirectly, in a portfolio of unlisted companies. Hg Pooled Management Limited and HgCapital LLP (collectively, Hg) primarily invest in companies whose operations are headquartered or substantially based in Europe. These companies operate in a range of countries, but there is no policy of making allocations to specific countries or markets. Investments are made across a range of sectors. Co. may, from time to time, invest directly in private equity funds managed by Hg. Hg Pooled Management Limited has been appointed as Co.'s Alternative Investment Fund Manager.
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