7th Apr 2011 11:08
HgCapital Trust plc
All information is at 31 March 2011 and unaudited.
Performance at month end with net income reinvested
One month Three One Three Five Ten years months year years years Net asset value 1.6% 2.7% 24.3% 23.0% 92.7% 228.2% (diluted) Net asset value 1.4% 2.3% 20.7% 19.4% 87.1% 218.7%(basic) Share price 10.4% 6.9% 26.5% 37.5% 79.9% 282.5% FTSE All-Share (0.8%) 1.0% 8.7% 17.0% 20.0% 44.2%Index
Sources: HgCapital, Factset
At month endNet asset value:* Basic 1,149.6p Diluted 1,116.3p Share price ordinary shares: 1,075.0p Ordinary share price discount to NAV 6.5%(basic): Ordinary share price discount to NAV 3.7% (diluted): Share price subscription shares: 122.8p Total net assets: £357.6m Net yield:** 2.6% Gearing: Nil% Ordinary shares in issue: 31,103,915 Subscription shares in issue: 6,220,783 * includes 3 months net revenue of 8.93p ** based on a dividend of 28.0p announced on 18 March 2011
Following the sale of SLV (expected to be completed in June 2011), the NAV is estimated to be £367.6 million (1,181.9 pence per share basic; 1,143.2 pence per share diluted). The ordinary share price is trading at a 9.0% discount to the adjusted NAV of 1,181.9 pence per share; 6.0% discount to the adjusted diluted NAV of 1,143.2 pence per share.
The NAV is recalculated monthly with respect to cash, cash equivalents and quoted investments in the portfolio.
Unquoted investments were last revalued at 31 December 2010.
Sector Total Assets % Technology & Media 29.0 Industrials 11.7 Services 10.0 Healthcare 9.5 Consumer & Leisure 4.2 Renewable Energy 4.3 Other 6.9 Cash and other liquid assets* 24.4 100.0
* Cash and other liquid assets are stated before the sale of SLV scheduled to complete in June 2011. After completion, cash and other liquid assets is estimated to be 30.5% (28.2% after the proposed dividend to be paid in May 2011) of total adjusted net assets.
Ten Largest InvestmentsCompany Total Assets Sector % TeamSystem 7.3 Technology & Media VISMA 6.6 Technology & Media Stepstone Solutions 5.5 Technology & Media Frosunda 4.5 Healthcare SLV Electronic 4.2 Industrials SHL 4.1 Services Mondo Minerals Co-op 3.8 Industrials Achilles 3.6 Technology & Media HG Renewable Energy (Fund 1) 3.6 Renewable Energy Midas EqityCo 3.4 Healthcare 46.6 07 April 2011
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HgCapital Trust plc