HgCapital Trust (HGT) delivered a strong NAV total return of c 36% in the first nine months of 2021, including c 12% in Q321, driven primarily by double-digit earnings growth across the portfolio (LTM EBITDA for top 20 holdings up 29% y o y). Its transaction activity remains high, with the volume of completed and announced investments and realisations at £378m and £204m, respectively in 2021 so far (vs £403m and £364m in the record-high 2020). HGT's coverage ratio was a healthy c 85% at 10 December 2021 and its liquidity position has been supported with tap equity issues (c £126m in 2021 to 10 December) and a £200m credit facility, £45m of which was undrawn as at 15 November 2021.Den vollständigen Artikel lesen ...
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