Tetragon Financial Group Limited

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Tetragon Financial Group Limited LSE:TFG London Ordinary Share GG00B1RMC548 ORD USD0.001
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 10.05 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
9.90 10.20 10.05 10.05 10.05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Trust,ex Ed,religious,charty 62.90 -32.10 -0.38 - 877.37
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 10.05 USD

Tetragon Financial (TFG) Latest News (1)

Tetragon Financial (TFG) Discussions and Chat

Tetragon Financial Forums and Chat

Date Time Title Posts
05/6/200310:31The Bear Club...... Taylor & Francis Group50

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Tetragon Financial (TFG) Most Recent Trades

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Tetragon Financial (TFG) Top Chat Posts

Top Posts
Posted at 31/3/2023 20:01 by makinbuks
Yes there are many theories as to why a discount exists and what to do about it, but sometimes the most obvious theory ie, that demand for a share outstrips supply is the most powerful.
Posted at 06/3/2023 16:12 by makinbuks
Id be interested in others views on the presentation. I find it an incredibly dry process of mechanically reading the information in front of you in tabular form. To simply read out, additions were x, distributions were y and gains/losses were z adds no colour. Occasionally, a little nugget is let drop, eg the driver behind an increase in valuation is a reduction in the discount rate. Sensibly a listener questions this (presumably because its counter intuitive as risk free rates rise) but the response is the deliberately dry "independent valuation". They know full well what you are asking but they give a bland politicians answer. The question on valuing legal assets was mine. They are fully aware this is a contentious issue from the Bruford saga yet again they ignore the issue and simply advise that they invest in a fund and the price of the fund is advised to them and its immaterial anyway. I actually enjoy listening to them but get very little out of it
Posted at 05/3/2023 17:11 by riskvsreward
The management claims they have a long term annual return on nav of over 10%, and the share price is under a third of nav, they should easily pay a 10% dividend and still have a dividend cover of more than three times, being conservative by any standards. Of course unless their nav return is all bxxx…
Posted at 05/3/2023 17:05 by riskvsreward
Same questions have been Asked many times in previous meetings. Nothing will be done unless the undemocratic golden share is removed and the company constitution is changed. Otherwise they will just milk the outside shareholders until they eventually own the whole company themselves.
Posted at 05/3/2023 16:50 by hugepants
Dividend announcement and $25M tender offer

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 22:12 by alpal2
Question: The interests of shareholders will be best served by closing the gap between the share price and the NAV. As the current directors are incapable of doing this, will they resign so that competent directors can be appointed to look after shareholders.
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
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.


Presentation Replay:
A replay of the call will be available for 30 days through the link provided above or by visiting hxxp:// where a recording will posted.

We hope that you are able to join the call.
Kind regards,

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

Posted at 22/12/2022 16:55 by alpal2
topvest: You're cleverer than I to have exited at $10-25. Wish I had done so. What proportion of your shares were taken at that price?
But I can't understand people who are now selling about $9-75; why didn't they get out in the tender or are they exiting shares not taken in the tender?

Posted at 03/9/2020 13:42 by davebowler
Tetragon Financial Group (TFG) invests in a diversified set of alternative assets, including bank loans, real estate, convertible bonds and event-driven equities via hedge funds. However it also has investments in six management groups which manage a significant part of the portfolio. Together they are known as TFG Asset Management and represent 31% of NAV (as at 30/06/2020). The companies within this business currently manage around $27bn of assets in total. We understand that the long-term strategy is to continue to grow this business, effectively, as a group of asset management businesses under a corporate umbrella: with a view to a possible initial public offering and listing of its shares. If this were to be achieved, given the percentage of NAV the business represents, it would likely be a material development for the TFG share price. Nevertheless we would caution that the managers have stated that there is no short-term plan to crystallise value in TFG Asset Management.

The current discount to NAV that TFG trades at would suggest that investors are ascribing little or no value to the asset management business. The business is valued in the NAV at $703m (as at 30/06/2020). This valuation appears conservative in terms of an earnings valuation and broadly in-line with listed peers – as we illustrate in the tables above. When we apply the value ascribed by the market in the form of a 62% discount, however, the valuations appear compelling. TFG Asset Management companies certainly invest in alternative assets and have large performance fee elements to them, which makes direct comparisons difficult. However we would note that the funds and underlying assets tend to exhibit low volatility, and have an emphasis on the underlying stability of cashflows. As a result TFG Asset Management could offer compelling value for long-term investors, on both an earnings and AUM basis and based the valuation implied by the current price of Tetragon’s shares.

Tetragon Financial share price data is direct from the London Stock Exchange
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