A director at Herald Investment Trust bought 2,220 shares at 2,263p and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years c...
Herald Investment Trust (HRI) demonstrates why patience can be key when it comes to investing. The managers highlight the drought of funding available to small cap technology stocks. The team has ensured that HRI has sufficient liquidity to take advantage of opportunities as these arise. HRI is operating in a buyers’ market, and this often gives it the power to dictate terms. HRI’s performance also reflects the bifurcation of global technology markets, whereby US stocks, especially those with la...
Herald Investment Trust (HRI) illustrates why patience can sometimes be important when it comes to investing. The manager says that there is a drought of funding for small cap technology stocks, but its team has ensured that HRI has sufficient liquidity to take advantage of opportunities should they arise. HRI can find itself operating in a buyers’ market, where it is able to dictate terms. HRI’s performance also reflects the bifurcation of global technology markets, whereby US stocks, especiall...
While Herald Investment Trust (HRI), like many other technology and growth-focused strategies, has been caught up in the grips of 2022’s market selloff, 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 enables it to capitalise ...
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 s...
Whilst Herald Investment Trust’s (HRI’s) results for the year ended 31 December 2021 will not be published for some time, it looks as though it had another impressive year, with particularly strong performances from its semiconductor and UK media holdings (see pages 15 to 23 for a detailed look at HRI’s performance during 2021). Rising inflation and the potential for interest rises has taken some of the steam out of growth stocks recently, but HRI’s longstanding manager, Katie Potts, believes th...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Herald Investment Trust (HRI) has generated an impressive uplift in NAV over the last 12 months. Reflecting its focus on technology, which has generally performed well as the world tries to adjust to life under the pandemic, HRI’s NAV total return of 26.1% eclipses the return on the Numis Smaller Companies plus AIM Index, which fell by 2.6%. Whilst the performance of large cap tech has eclipsed that of its small cap brethren over the last five years, HRI’s NAV has outperformed the large cap domi...
Herald Investment Trust (HRI) has generated an impressive uplift in its net asset value (NAV) over the last 12 months. Reflecting its focus on technology, which has generally performed well as the world tries to adjust to life under the COVID-19 pandemic, HRI’s NAV total return of 26.1% eclipses the return on one of the indices that it uses as a performance comparison, the UK-focused Numis Smaller Companies plus AIM Index, which fell by 2.6%.
Following an excellent year of performance during 2019 (an 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 upheavals and this will accelerate the demand for associated products VoIP phones, teleconferencing services, remote desktop access, VPNs, etc) an...
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 de...
Herald Investment Trust (HRI) generated strong absolute returns in the first half of 2019, with marked outperformance by both its UK and US portfolios of their local market indices. Both a general market recovery and a recovery in global technology stocks have helped, but HRI’s UK and US portfolios have both benefitted from a wave of takeover activity, allowing HRI to lock in significant premiums. This illustrates how HRI’s holdings can move very quickly, validating the manager’s strategy of ma...
Herald Investment Trust (HRI) generated strong absolute returns in the first half of 2019, with marked outperformance by both its UK and US portfolios of their local market indices. Both a general market recovery and a recovery in global technology stocks have helped, but HRI’s UK and US portfolios have both benefitted from a wave of takeover activity, allowing HRI to lock in significant premiums. This illustrates how HRI’s holdings can move very quickly, validating the manager’s strategy of ma...
Herald Investment Trust (HRI) is approaching its 25th birthday. HRI’s manager, Katie Potts, has been there since launch, delivering considerable out performance of equity markets. She has seen significant swings in sentiment towards the technology sector over that time. Growth stocks and the technology sector fell out of favour with investors in the latter part of 2018. HRI held up better than the UK small cap market, but sterling weakness and worries about the UK’s future relationship with the ...
Herald Investment Trust (HRI) is approaching its 25th birthday. HRI’s manager, Katie Potts, has been at the helm since launch, delivering considerable outperformance of equity markets. She has seen significant swings in sentiment towards the technologysector over that time. Growth stocks and the technology sector fell out of favour with investors towards the end of 2018. HRI held up better than the broader UK small cap market, but sterling weakness and worries about the UK’s future relationship ...
Herald Investment Trust (HRI) provided very strong returns during 2017 (NAV and share-price total returns of 26.9% and 32.7% respectively) with strong absolute returns coming from all of its regional portfolios. During 2017, a significant proportion of HRI’s NAV performance was driven by 24 holdings that more than doubled during the year. These stocks, which accounted for 8.2% of the portfolio at the beginning of 2017, contributed 63% of HRI’s aggregate return for the year and illustrate neatly ...
Herald Investment Trust (HRI) provided very strong returns during 2017 (NAV and share-price total returns of 26.9% and 32.7% respectively) with positive contributions coming from all of its regional portfolios. During 2017, a significant proportion of HRI’s NAV performance came from 24 holdings, all of which at least doubled in share price terms. These stocks, which accounted for 8.2% of the portfolio at the beginning of 2017, contributed 63% of HRI’s aggregate return. This neatly illustrates th...
Herald, the small cap technology, communications and multimedia trust, recently passed a remarkable milestone. It has created more than £1bn for investors since it launched in 1994. Katie Potts, who has managed the fund over its entire life, points out that £98m was raised from investors (at launch and in subsequent issues). All of this and more has been returned via share buy-backs, yet Herald still has net assets of £952.3m (up from £791m at the start of 2017). 2017 has been good to Herald and...
Herald, the small cap technology, communications and multimedia trust, recently passed a remarkable milestone. It has created more than £1bn for investors since it launched in 1994. Katie Potts, who has managed the fund over its entire life, points out that £98m was raised from investors (at launch and in subsequent issues). All of this and more has been returned via share buy-backs, yet Herald still has net assets of £952.3m (up from £791m at the start of 2017). 2017 has been good to Herald and...
”‹The Technology sector has been rising strongly in recent months. In this note, we discuss a number of stocks that contributed to a near 40% increase in Herald Investment Trust’s NAV over the year to the end of May 2017. Nevertheless, Herald’s manager is convinced that UK technology companies in particular, which comprise over half the portfolio, have the growth potential to justify continued progress. The opportunity set for technology and media companies is considerable, allowing the best of ...
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