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Herald Investment Trust PLC - aims for capital appreciation through investments in smaller quoted companies in technology and communications - Net asset value per share is 2,553.9 pence on June 30, up 2.6% from 2,488.2p on January 1. This compares to a 6.9% positive total return for the trust’s UK comparison index and a 12% negative total return for its US comparison. Chair Andrew Joy says the increase in NAV would have been higher if not for the 9.7% appreciation in the pound against the dollar during the half-year, as US stocks account for 34% of the trust’s portfolio. Joy notes that activist investor Saba Capital Management LP continues to hold a 30% stake in the company, after Saba’s attempt to replace the Herald Investment Trust board was defeated by fellow shareholders. Saba’s ‘current intentions remain unclear’, Joy says, and the board is engaging with Saba ‘to find a resolution to the uncertainty caused by Saba’s large holding’. Current stock price: 2,400.00p 12-month change: up 7.6% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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