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HG Capital Trust annual returns rise 24% as portfolio grows
StockMarketWire.com
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Investment trust HG Capital Trust said annual net asset value returns rose by nearly a quarter in 2020 as defensive parts of its portfolio stifled the impact from the Covid-19 pandemic.
For the year ended 31 December, net asset value per share was 310.3 pence, up 24% on a total return basis from a year earlier as portfolio valuations increased over 25% for the year.
The FTSE All-share index returns fell 9.8% for the year.
The proposed final dividend of 3.0p per share was down from 5.0p per share last year.
'As highlighted previously, COVID-19 has had a limited direct impact on the portfolio, given its defensive growth characteristics and we believe our investments will continue to benefit from ongoing trends in the digitalisation of business processes, across sectors and geographies,' the company said.
'The combination of the long-term nature of listed private equity investment with the types of business that Hg invests in, and robust double-digit trading will continue to drive long-term growth,' it added.
Story provided by StockMarketWire.com
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