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30 Apr 2026 07:00
Seraphim Space Investment Trust - Update from QuotedData
30 April 2026
Strong NAV growth underway, with further upside expected
Seraphim Space Investment Trust (SSIT) has reported strong NAV growth, mainly from higher valuations in its main holdings and better operational performance. The manager remains very excited about SSIT's future prospects, expecting further NAV gains as more contracts turn into revenue and momentum increases.
SpaceTech is now seen as vital national infrastructure, with rising defence budgets and quicker procurement, especially in Europe, driving demand in areas where SSIT is well positioned. This has led to larger contracts, improved revenue visibility, and clearer paths to profitability for portfolio companies.
The manager believes SSIT's current valuation does not fully reflect the strength or lasting nature of these growth trends, and sees the long-term potential as underappreciated by the market.
On 16 April 2026, SSIT's board announced a possible C-share offering to raise up to £350m. This offer is open to both institutional and retail investors (via Retail Book), allowing the trust to raise new capital without causing cash drag for current shareholders while the funds are invested.
Issuing new shares should benefit existing shareholders by improving market liquidity and lowering the trust's expense ratio, as fixed costs are spread over a larger asset base. It should also reduce the blended management fee, which is 1.25% on net assets up to £300m and 1% above that.
Full Research:
https://quoteddata.com/research/seraphim-space-investment-trust-strong-nav-growth-underway-with-further-upside-expected-qd/
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NB: Marten & Co was paid to produce this note Seraphim Space Investment Trust Plc, and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
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