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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tetragon Financial Group Limited | TFG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 14.00 | 08:00:21 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 13.75 | 13.75 | 14.00 | 14.00 |
| Top Posts |
|---|
Posted at 03/4/2025 11:16 by houseofpain1 Interesting news out this morning on Equitix. Infralogic reporting that sale of Equitix has entered its final round with strong interests from US investors. TFG reportedly entered into exclusive talks with a bidder, possibly Franklin Templeton. No mention of price but assuming around the levels reported last October, this should lead to a large uplift in TFG's NAV and possibly (hopefully!) also a hugely accretive return of capital given the still enormous discount to NAV. |
Posted at 13/2/2025 08:53 by value hound "Wexboy's" take on things - a great read...hxxps://wexboy.wordp 2024 was (finally) a real inflection/breakout year for Tetragon Financial Group, with investors enjoying a +42% share price gain (& a +4.5% yield). This reflects a +15.4% NAV/share total return – its best in years, again reinforcing its longer-term record of low-volatility 9-10%+ pa net returns – and a narrowing of Tetragon’s NAV discount from 68% to a still astonishing 60%. [Worth highlighting: Even with zero NAV gains/dividends, that relatively small discount compression would have still delivered a +25% shareholder gain!] Crucially, it also helps silence the haters – who were always happy to trot out their usual misconceptions, lies & ancient history here – further improving sentiment, with the stock up an additional +10% YTD & hitting new all-time-highs). And I’d expect further gains ahead, based on anticipated developments this year with some key investments…no There were three main NAV drivers last year: The first was Hawke’s Point, which finances high quality mining projects in the Australian (& North American) resource sector – its value grew almost +70%/+$80 million last year, net-net, albeit masking significant (downside) volatility along the way from a peak $320M value as of end-October. [One can hardly complain about the overall net gain!] The second is Ripple Labs A&B Preferred Stock, which gained an astonishing 130%+/$135M+, in the last two months of the year, reflecting its SEC win earlier in the year, the election of Trump & a new crypto-friendly administration in November, and a subsequent four/seven-fold gain in $XRP’s market price. Third, we saw a +25%/+$185M gain in Tetragon’s 75%+ stake in Equitix, received the welcome news in October of an actual sale process (still ongoing today), and confirmation TFG’s stake had increased to 81.5% but would now accrue a tail/profits liability to former Equitix management (for the moment, I’m assuming it still nets back out to an effective 75% stake). All told, less dividends & a measly $25M tender offer – that’s less than 1% of NAV & barely 40%+ of the tender offers in 2023 – those gains in value net out to a near-$350M NAV increase last year. This year, hopefully we see an actual sale of Equitix – a £1.5 billion price tag has been floated, vs. $14B+ of AUM, reflecting other recent deals & a voracious appetite for alternative/infrastr Either Griffith & Dear flex their control muscles, attempt to reinvest the cash & personally collect the fees on the management contract for another 5/10 years, OR they actually focus on enhancing/realising shareholder value via a massively accretive tender offer for a huge % of Tetragon’s o/s shares.he former was investors’ default assumption to date (& rightly so), but as the principals age out (& want to potentially revalue/realise their own stake), and TFG’s other management/employees lobby re their steadily growing stake, and noting the sheer scale of this potential deal, the odds shift in favour of the latter…clearly it’s still an entirely event-driven scenario, but IF we see a sale & IF we see a massive tender offer, then we’ll also see a step-change in sentiment & the NAV discount. Further, let’s hope we can also add some crypto pixie-dust to the equation – back of the envelope, Tetragon now owns somewhere between 2.25%-2.5% of Ripple Labs, whose private market (equity) value is currently worth something like $14/$15.5 billion today, vs. its actual treasury of 43.3B+ $XRP, which is currently worth something like $107B! That’s a hell of a value gap, one that could potentially be closed/realised via what I’d call an anti-$MSTR strategy, ie (gradually) selling $XRP crypto & buying Ripple equity. And Ripple Labs has already started down this road – executing two/three tender offers in the last year, funded from $XRP sales – a strategy that could attract a lot more attention & be further refined IF Ripple & Brad Garlinghouse actually propose an IPO, now that Trump’s in the White House. So yeah, it’s definitely a good idea here to do the math & figure out the potential/asymmetric upside for Tetragon on its Ripple Labs stake…vs. its current $1.3B market cap (& a potential/impending sale of Equitix). |
Posted at 06/3/2023 17:28 by tula100 Are we retail investors not deemed to be intelligent enough to decide on our own risks then?Tetragon’s non-voting shares are not intended for European retail investors. Tetragon anticipates that its typical investors will be institutional and professional investors who wish to invest for the long term in a predominantly income-producing investment and who have experience in investing in financial markets and collective investment undertakings, who are capable themselves of evaluating the merits and risks of Tetragon shares, and who have sufficient resources both to invest in potentially illiquid securities and to be able to bear any losses (which may equal the whole amount invested) that may result from the investment. |
Posted at 02/3/2023 17:12 by tula100 I have submitted the following questions for the investor call:1. What are the board doing to narrow the gap between the NAV and the share price? 2. How can the board justify basing their remuneration on the NAV and not the share price? |
Posted at 28/2/2023 21:38 by tula100 Tetragon will host a conference call for investors on Monday, 6 March 2023 at 15:00 GMT / 10:00 EST to discuss its annual report and to provide a company update.During the call, Tetragon’s investment manager will also seek to address questions raised by investors, including questions e-mailed to ir@tetragoninv.com. Getting Access to the Call, Online Presentation and Q&A: The call will be accompanied by a live presentation which can be viewed online by registering at the link below. In addition, questions can be submitted online while watching the presentation. We would encourage you to log in 15 minutes prior to the start of the call. hxxp://onlinexperien Presentation Replay: A replay of the call will be available for 30 days through the link provided above or by visiting hxxp://www.tetragoni We hope that you are able to join the call. Kind regards, Yuko Yuko Thomas Head of Investor Relations TFG Asset Management Tetragon Financial Management 4 Sloane Terrace | London SW1X 9DQ | United Kingdom Direct: +44 20 7901 8327 | Main: +44 20 7901 8300 | Mobile: +44 7920 006 990 ythomas@tetragoninv. www.tetragoninv.com |
Posted at 29/4/2022 08:32 by boystown Can anyone tell me why my P/F on Interactive Investor says the share price of TFG is 780p? |
Posted at 07/3/2022 16:02 by stoxman2 The usual blah, blah, blah during the investor call. It would be SO easy to realise shareholder value or at least signal true alignment- set a 20% discount target in [2] years or they will align fees to share price rather than NAV AND give votes to non-voting shares AND bring in NEDs AND sell assets to buy back meaningful numbers of shares etc. Why buy back 50m when they have a guaranteed 100%+ return by buying back their own shares? |
Posted at 21/2/2022 22:09 by tula100 Tetragon will host a conference call for investors on Monday, 7 March 2022 at 15:00 GMT / 10:00 EST to discuss its annual report and to provide a company update.During the call, Tetragon’s investment manager will also seek to address questions raised by investors, including questions e-mailed to ir@tetragoninv.com. |
Posted at 21/12/2021 19:08 by riskvsreward You can register on their website. They have always emailed me any news release or investor call information. |
Posted at 21/12/2021 15:56 by tula100 How do we get notification and details of the investor calls? I thought I had registered last year to be notified but never heard anything.The TISE which operates the Guernsey stock exchange states in its Principles, inter alia: 1. Treating all investors and holders of listed securities fairly, .. 3. Following any applicable recognised code of corporate governance or any prescribed laws of their jurisdiction as an alternative and, where applicable,disclosin 6. Ensuring holders of listed equity securities are given adequate opportunity to consider and vote upon major changes in the issuer’s business operations, and matters of importance concerning the issuer’s management and constitution. Is there any avenue to get TISE to apply pressure on TFG, particularly about treating investors fairly? |
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