(Alliance News) -Â HgCapital Trust PLC on Monday reported outperformance versus the FTSE All-Share Index in the third quarter of 2020.
HgCapital's net asset value per share at the end of September was 299.5 pence, a three-month total return of 12%. This outperformed the FTSE All-Share Index, which fell 2.9%.
"HGT has continued to operate very effectively in the third quarter of the financial year, continuing the pattern of solid returns witnessed in recent quarters. While the global impact of the Covid pandemic continues, the investment strategy, targeting software and technology-enabled business services companies, has left HGT well positioned," said HgCapital Chair Jim Strang.
"The quarter saw some notable transactions that validate the strength of HGT and the quality of the businesses within the portfolio. Hg, our manager, has adapted fully to the challenging operating environment and the board has every confidence in their capability to operate effectively, despite the circumstances," said Strang.
Shares in HgCapital were up 1.0% at 305.10p in London on Monday.
By Lucy Heming;Â lucyheming@alliancenews.com
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HgCapital Trust plc (HGT)