Hg Capital Share Discussion Threads

[steve c1] 08/11/2019 19:54

Going great guns this one. One of my largest holdings. Will be interesting to see how it holds up in any downturn, 2008 - 09 didn't see it fall very far.

[rambutan2] 11/9/2019 17:20

Yes, sometimes it's worth paying up for quality growth:

[andyj] 09/9/2019 14:10

Bought in at 201, now wishing my entire portfolio was in this fund. An outstanding performance given the turbulence of the past year.

[p1nkfish] 09/9/2019 09:10

Absolutely spot on.

[robsy2] 09/9/2019 08:47

Excellent results.

[robow] 09/9/2019 08:14

Roger Mountford, Chairman of the Company, commented:

"Over the twelve months to 30 June 2019, the top 20 companies, that make up 88% of our portfolio by value, reported sales growth of 26% and EBITDA growth of 35%. These are the strongest trading figures we have ever reported and evidence the quality of the businesses we own."

[p1nkfish] 22/8/2019 09:21

If this idea is right then PE valuations will turn when liquidity taps are turned, when Gov's panic. Big ECB statement due.

Thoughts? Might be over thinking this.

[p1nkfish] 22/8/2019 09:17

The PE side in general tends to be illiquid so I'm thinking some money is currently avoiding or reducing PE exposure in expectation of a liquidity event some time relatively soon - say 6 months or so.

I might be rationalizing something away but I do think liquidity will matter more soon than it has in the recent past and HGT is a partial symptom along with others.

[p1nkfish] 21/8/2019 18:38

Sky, I can envisage an Autumn of turbulence.

Say no more than will be hard to call when to retake a stake here and other places.

With a bit of luck some really juicy opportunities will arise for those with the cash and the guts.

[skyship] 20/8/2019 14:26

Posted on 16th June on the PE thread - see below.

Looks as though reality kicking in here; and pinkfish may well be right with his projection.

===============================================

HGT didn't quite achieve their target of an £80m placing at a 1% premium to the May'19 NAV of 214.8p. But in the light of the incredible chutzpah of that target, they still managed to convince institutions to part with £64m of other people's money at 217.1p.

Excuse my cynicism; but a PE trust like this trading at a 1% premium to NAV and on a yield of just over 2% - I just don't see the value.

[p1nkfish] 20/8/2019 08:28

This could break to the mid-low 190's and touch the lower bound of its up channel & still be in its up channel, depending on how the chart is drawn etc.

[p1nkfish] 26/6/2019 07:13

Releasing more shares?
There is bound to be some price reaction.

[p1nkfish] 14/6/2019 21:49

Patience needed to see what happens as a reaction, I didn't expect a quick sell-off, more a very slow decline through summer boredom to a decent % below the placing price.

Ignoring loyal ordinary shareholders in this placing wasn't too clever imho.

[makinbuks] 14/6/2019 16:33

I agree, it appears a disappointing outcome but no initial price reaction. A PE trust trading at a premium is quite unusual

[p1nkfish] 14/6/2019 07:33

Let's see if share price softens as a consequence.

[p1nkfish] 14/6/2019 07:32

They wanted 80M approx inc 10M internal.
Raised just short of 64M before costs.

They said approx 80M, 64 vs 80 is not approx, it's a fail.

Mishandled imho.

[p1nkfish] 10/6/2019 07:29

Note raising, £80M
£10M from internal.
Balance from Qualified Investors.
Contact Numis, no members of public.

[skyship] 28/5/2019 08:21

10:1 sub-division today. share price 215p. NAV 211.77p. Premium = 1.5%.

[steve c1] 16/3/2019 21:03

Thanks for info

[atholl91] 15/3/2019 12:34

Steve, I use IB ( Interactive Brokers) online which I have found the easiest to set up an account. It's broking fees & trading on margin excellent. Also very good for UK residents. Any UK stockbroker can deal as its primary listing is on the Swiss Stock exchange

[steve c1] 14/3/2019 19:27

Loked at pghn before but never got around to do anything. What platforms can you buy this through, seems ig don't have access.

[robow] 14/3/2019 14:51

breaking out now

[atholl91] 14/3/2019 14:46

It is the best in class in PE. Superb performance over past 10 years and a core holding with Partners Group ( PGHN.VX) that also has been a superb performer over past 10 years.

[robow] 14/3/2019 10:12

certainly did.