(Alliance News) - HgCapital Trust PLC on Monday said net asset value per share rose by almost a quarter during 2020, as its investment portfolio weathered the Covid-19 pandemic.
NAV increased by 24% to 310.3 pence on December 31 from 255.1p a year before, advancing ahead of the HgCapital Trust share price, which rose by 21% during 2020.
HgCapital Trust shares were down 6.5% to 322.17 pence early Monday in London.
Total NAV at the end of 2020 was GBP1.29 billion, up 24% from GBP1.04 billion a year before.
HgCapital Trust provides investors with access to the unquoted businesses managed by software and service businesses investor Hg.
HgCapital Trust declared a 3.0p final dividend, having paid 2.0p as an interim dividend, giving a full-year payout of 5.0p. For 2019, the company paid a 1.8p interim dividend, followed by a 3.0p second interim dividend in place of a final dividend, for 4.8p total.
The trust invested GBP403 million during 2020, while realising GBP364 million in investments.
"While 2021 seems set to be a year of further challenges, HGT is well placed to continue the progress of recent years in what will hopefully be an improving climate," said Chair Jim Strang.
By Tom Waite; thomaslwaite@alliancenews.com
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HgCapital Trust plc (HGT)