Change is a coming
Following an excellent year of performance during 2019 (a net asset value (NAV) total return of 27.5%), Herald Investment Trust (HRI) has seen its discount widen and the value of its portfolio companies fall since the outbreak of covid-19. As authorities scramble to contain the virus, our lives are changing in significant ways. Inevitably, technology is enabling these changes and this will accelerate the demand for associated products (Internet (VoIP) phones, teleconferencing services, remote desktop access, VPNs, etc) and will likely offer other solutions to the challenges that society currently faces. With HRI’s discount elevated and its holdings cheaper than they have been, the current environment may offer a good entry point for the patient investor.
Herald Investment Trust is an investment company. Co. carries on business as an investment trust. Co. invests in quoted companies in the areas of telecommunications, multimedia and technology. Investments may be made across the world. The business activities of investee companies will include information technology, broadcasting, printing and publishing and the supply of equipment and services to these companies. Herald Investment Management Limited is the appointed investment manager to Co.
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