24th Jul 2024 14:16
Herald Investment Trust PLC - London-based investor in technology, media and communications companies - Net asset value is 2,472.8p as of June 30, up 11% from 2,219.2p at December 31. Total return for first half of 2024 is positive 7.0%, compared with a positive 4.2% return from the Deutsche Numis Smaller Companies plus AIM (excluding investment companies) index. Says companies supplying enabling technology for artificial intelligence accounted for the positive return, with Super Micro Computer contributing a GBP74.0 million gain. YouGov meanwhile "performed poorly" with a GBP15.1 million loss, although "in general trading in investee companies has been satisfactory".
Chair Andrew Joy says Herald "is fortunate in having a mandate to invest in a sector that demonstrates growth, and innovation continues at an extraordinary pace...Artificial intelligence, the drive to net zero, security (both cyber and defence) and the need for efficiencies are all powerful drivers. The board remains excited to be investing in the sector, and with a manager who has provided proven long-term performance."
Current stock price: 2,216.89 pence, down 0.6% on Wednesday afternoon in London
12-month change: up 25%
By Emma Curzon, Alliance News reporter
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