Herald Investment Trust performance held back after Saba tender deal
By Josh White
Date: Wednesday 22 Jul 2026
(Sharecast News) - Herald Investment Trust said on Wednesday that its net asset value per share rose 28.1% in the first half to 3,459.4p, while the share price increased 27.7% to 3,070p.
Total net assets grew to £1.66bn from £1.29bn at the end of 2025, supported by £363.3m of capital gains as smaller technology and semiconductor holdings benefited from the artificial intelligence investment boom.
The FTSE 250 trust said performance was held back by raising more than £700m of cash ahead of a tender offer, under which 60.1% of its shares were tendered following an agreement with major shareholder Saba Capital.
After settlement, Herald will have net assets of around £650m, while Katie Potts will continue managing the portfolio after moving to Aberdeen Investments, which becomes the trust's alternative investment fund manager on 1 August.
At 0950 BST, shares in Herald Investment Trust were up 0.84% at 2,985p.
Reporting by Josh White for Sharecast.com.
See latest RNS on Investegate
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN