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Investment trust info:
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Sector
Private Equity
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Launch Date
13 Dec 1989
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Base Currency
GBX
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Domicile
UK
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Share Price (p)
1139.00
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Share Type
Ordinary Share
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TIDM
HGT
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ISIN
GB0003921052
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Shares Issued (M)
36
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Market Capital (£M)
407.21
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Gross Assets (£M)
443.71
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Net Assets (£M)
443.71
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TER (%)
2.77
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Historic Dividend Yield (%)
2.01
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Next Dividend Date
03 Apr 2014
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Next Dividend (p)
23.00
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Last AGM
08 May 2013
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Next AGM
08 May 2014
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Last Annual Report Date
28 Mar 2013
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Next due Report Date
30 Jun 2013
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Next due Report Type
I/R
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Objective:
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Long-term capital growth primarily from unquoted companies in the UK and Continental Europe.
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Management Group(s):
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HgCapital
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Managed by:
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Frances Jacob
Start: 01 Feb 1994
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Ian Armitage
Start: 01 Feb 1994
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Nic Humphries
Start: 01 Jan 2001
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Management Contract & Fees:
Fund Manager receives a management fee of 1.5% p.a. of NAV, excluding investments in other collective investment funds. In 2003, the Board and HgCapital agreed to introduce a carried interest in which the executives of HgCapital participate in order to provide an incentive to deliver good performance. This arrangement allows for a carried interest of 20% of the excess annual growth in average NAV over an 8% preferred return, based on a three-year rolling average NAV, calculated half-yearly and aggregated with any dividends declared by the Company in respect of that financial year. The management agreement may be terminated on giving two years notice and such notice shall be deemed to be given at the end of the half-year in which the notice is served.
