15th Nov 2021 09:35
(Alliance News) - HgCapital Trust PLC on Monday said its third quarter net asset value increased, as it continues to benefit from digitalisation trends in businesses.
HgCapital, which participates in the investments of manager Hg, made GBP111.7 million worth of investments during the third quarter of 2021. Proceeds from realisations amounted to GBP87.0 million.
HgCapital's net asset value per share increased 11% to 414.8 pence per share on September 30 from 373.4p at the end of June.
Its NAV per share total return for the three months was 12%, topping the FTSE All Share's 2.2% return.
"The Covid-19 pandemic has had a limited direct impact on Hg's portfolio, given its defensive growth characteristics. We believe our investments continue to benefit from ongoing trends in the digitalisation of business processes, with Covid-19 accelerating such trends across sectors and geographies," HgCapital said.
Shares were 1.2% lower at 420.00p each in London on Monday morning.
By Eric Cunha; [email protected]
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