HgCapital Trust (Ordinary Share) HGT

Private Equity

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Estimated NAV (p)


Share Price (p)


Total Returns on £1000 over 

Fund / Benchmark Total returns(%)
HgCapital Trust (Ordinary Share) Price 16.76%
HgCapital Trust (Ordinary Share) NAV 13.74%
LPX United Kingdom 87.30%
Total Returns on £1000

Discount / Premium Movement

Discount / Premium Movement


Share Type Yesterday's
Closing Price
Discount / Premium Diluted NAV Gearing Dividend
Est Last
Ordinary Share 1051.0p -10.4% 1173.00p 1180.00p
30 Nov
100% 2.76%

Discrete performance % over

Fund / BenchmarkJan '12
Dec '12
Jan '13
Dec '13
Jan '14
Dec '14
HgCapital Trust (Ordinary Share) Price4.785.745.38
HgCapital Trust (Ordinary Share) NAV5.27-0.298.36
LPX United Kingdom30.8724.6814.79

Discrete performance over

Discrete Performance

Top 10 Holdings

Visma 9.85%
Iris 9.70%
Teamsystem 8.85%
Zenith Leasedrive 7.33%
P&I 6.50%
Radius 5.60%
Achilles Corp 5.40%
Jla Equityco Limited 4.95%
e-conomic 4.66%
Simonsvoss Luxco Sarl 4.57%

Sectors weighting

Technology 51.20%
Services General 19.30%
Cash & Fixed Interest 16.00%
General Industrials 9.20%
Healthcare 3.40%
Hotels & Leisure 0.80%

Regional weighting

Cash & Fixed Interest 47.00%
Europe Developed ex-UK 26.00%
UK 24.00%
North America Region 3.00%
  • Investment trust info:

  • Sector Private Equity
  • Launch Date 13 Dec 1989
  • Base Currency GBX
  • Domicile UK
  • Share Price (p) 1060.00
  • Share Type Ordinary Share
  • ISIN GB0003921052
  • Shares Issued (M) 37
  • Market Capital (£M) 392.28
  • Gross Assets (£M) 437.79
  • Net Assets (£M) 437.79
  • TER (%) 2.32
  • Historic Dividend Yield (%) 2.76
  • Last AGM 08 May 2013
  • Next AGM 13 May 2014
  • Last Annual Report Date 09 May 2014
  • Next due Report Date  
  • Next due Report Type I/R
  • Objective:

  • To provide shareholders with long-term capital appreciation in excess of the FTSE All-Share Index by investing in unquoted companies.
  • Management Group(s):

  • Hg Pooled Management Limited
  • HgCapital
  • Managed by:

  • Nic Humphries Start: 01 Jan 2001
  • Management Contract & Fees:

    The Company will pay no management fees to HgCapital in respect of its holdings of cash or liquid assets. The Company pays a fee of 1.5% p.a. on the current value of its existing private equity portfolio, excluding investments in other collective investment funds. The Company also pays charges in respect of its commitment to invest alongside HgCapital, HgCapital 6 and HgCapital Mercury funds. These charges are the same as those payable by all institutional investors in these Funds. Amounts of 1.75% and 2.00% per annum respectively are payable on the commitments during the investment period of these funds, which is expected to last for between four and five years. The charge will then reduce to 1.5% p.a. calculated on the basis of the original cost of the assets, less the original cost of any assets which have been realised or written off. The Manager is entitled to 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. In respect of the Company's investment alongside HgCapital 6, this incentive scheme will be replaced by a carried interest arrangement identical to that which applies to all other investors in HgCapital 6. Under this arrangement, HgCapital will receive 20% of aggregate profits after the repayment to the Company of its invested capital and the payment of a preferred return thereon of 8% per annum. HgCapital has been appointed as Secretary and administrator of the Company for a fee equal to 0.1% of NAV.