HgCapital Trust PLC - technology-focused investment trust that participates in the private equity investments of manager Hg - Posts lower net asset value for the quarter that ended March 31. Net asset value per share shrinks by 0.6% to 433.1 pence from 436.7p on February 28 and 440.5p on December. Late March total net asset value down to GBP1.98 billion from GBP2.0 billion in late February and also late December. HgCapital has 458.1 million shares in issue as of March 31, up from 455.3 million on December 31. Sees a risk of inflation and shift to a rising interest rate environment. Says 2022 so far has brought significant increase in geo-political risk and uncertainty, citing the war in Ukraine and ongoing effects of Covid-19. "There has also been some collateral impact on the valuations of established and profitable businesses," Chair Jim Strang adds.
Current stock price: 381.00 pence, down 0.3% on Monday
12-month change: up 14%
By Tom Budszus; tombudszus@alliancenews.com
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HgCapital Trust plc (HGT)