You are here

Prices & Quotes - UK Markets - HGCapital Trust (HGT)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 338.50p
Change Today:
5.50p
Market Cap:
1,447.43m
Sector:
Equity Investment Instruments

HgCapital has bumper 2020, turns negative at start of new year

By Josh White

Date: Monday 15 Mar 2021

LONDON (ShareCast) - (Sharecast News) - HgCapital reported net assets of 1.29bn in its full-year results on Monday, marking growth of 252m over 2020, and still outperforming the FTSE All-Share index over one, three, five, 10 and 20-year periods, although its fortunes thus far in 2021 were not looking so positive.
The FTSE 250 investment trust said its net asset value stood at 310p per share as at 31 December, making for a total return of 24% over the year, while the share price total return stood at 21%.

Its board proposed a final dividend of 3p per share, resulting in a total full-year dividend of 5p per share.

Performance in 2021 to date was a different story, however, as its net asset value per share was down 1.7% at 305.2p as at 28 February, while the FTSE All-Share index was up 1.2%.

The board noted that revenue and EBITDA growth across its top 20 investments, making up 83% of the portfolio, was 22% and 31% respectively, while 364m of cash was returned to HgCapital through realisations at uplifts to book value and refinancings.

Its enterprise value-to-EBITDA valuation multiple was 22.1x, and net debt-to-EBITDA was 6.4x for the firm's top 20 investments.

During the year, new commitments were made to the Hg Saturn 2, Hg Genesis 9, and Hg Mercury 3 funds, totalling 750m, with total outstanding commitments as at 31 December of 647m, up from 336m at the start of the year, which would be deployed over the next three to four years.

The board also noted that in October, it completed a new 200m multi-currency revolving credit facility, while 25m of new equity was raised over 2020 via tap issues.

"This last year has proven to be a uniquely challenging one with great difficulties, many hardships and sadly, for many, personal tragedy," said chairman Jim Strang.

"Against this background, HgCapital Trust has performed extremely well, as the resilience and attractiveness of the investment model and the underlying investments have been proven.

"While 2021 seems set to be a year of further challenges, HgCapital Trust is well placed to continue the progress of recent years in what will hopefully be an improving climate."

Luke Finch, partner and head of client services, at the trust's investment manager Hg, said the most recent platform investments across the three fund families had been into companies where founders and management teams owned "significant" stakes in the businesses.

"They have chosen to partner with Hg, and we believe this is testament to the focused scale and expertise which we have built in our defined end market 'clusters' and the strong network effect which has developed across the portfolio over the last two decades."

At 0842 GMT, shares in HgCapital Trust were down 8.57% at 314.99p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

HGCapital Trust Market Data

Currency UK Pounds
Price 338.50p
Change Today 5.50p
52 Week High 353.00p
52 Week Low 211.50p
Volume 455,885
Shares Issued 427.60m
Market Cap 1,447.43m
Beta 0.00

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
Income
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector
P/E
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
PEG
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HGCapital Trust Dividends

  Latest Previous
  Final Interim
Ex-Div 29-Apr-21 24-Sep-20
Paid 28-May-21 30-Oct-20
Amount 3.00p 2.00p

Trades for 07-May-2021

Time Volume / Share Price
16:39 12,535 @ 338.50p
16:37 2,535 @ 338.50p
16:35 31,093 @ 338.50p
16:29 5 @ 337.00p
16:29 40 @ 337.50p

HGCapital Trust Key Personnel

Chair Jim Strang