Herald Investment Trust – Efficiency savings
While Herald Investment Trust (HRI), like many other technology and growth-focused strategies, appears to have been caught up in the grips of 2022’s market selloff, its manager says that the fundamentals of many of the companies in its portfolio have remained largely unscathed. In fact, the management team believes that today’s market represents an opportunity, as falling prices and earnings strength push valuations to attractive levels. HRI’s team also highlights that the trust’s closed-ended structure should enable it to be able to capitalise on forced sellers as they emerge. With a view to exploiting these opportunities, HRI has a large (about 11%) position in liquid assets. Though HRI’s discount did widen substantially at the start of the year, it has narrowed since the recent US inflation figures, which raised hopes that an end to fiscal tightening might be in sight.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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