Herald Investment Trust posts NAV total return of 12.3 per cent

Herald Investment Trust, the FTSE-250 listed fund, reported a net asset value (NAV) total return of 12.3 per cent in 2012.

Herald Investment Trust, the FTSE-250 listed fund, reported a net asset value (NAV) total return of 12.3 per cent in 2012.

The company described this NAV as "satisfactory in the context of returns made from the wider indicies".

It said that the UK portfolio had risen to the highest proportion of the equity portfolio since the turn of the century at 70.9%, while the US portfolio fell to 20.9%.

The European portfolio recovered by 17.5% in pounds sterling but the company said it remainded a "modest weighting". Meanwhile, the Far East delivered a total return of 10.3%, including the Taiwamn portfolio which returned 19.3% in pounds sterling and the strongest component.

Concluding its results, the company described 2012 as "adequate", adding that it "could have been better". It said that the outlook for 2013 remained "uncertain" but from the perspective of the sectors it targeted, Herald said that the US seemed to be better placed to address its economic issues than elsewhere.

"There remains more value in microcaps, but the ability for companies to grow profits appears to be more challenging than it has been. The UK portfolio seems likely to decline as a percentage of the whole. While a degree of caution seems rational it remains a mandate that seems to have attractions relative to most other asset classes. We continue with enthusiasm," a statement issued by the fund reported.

Herald Investment Trust was launched in 1994 and is a large investment trust specialising in technology, communications and multi-media. It is the only specialist technology orientated investment trust with a material exposure to the United Kingdom.

According to its latest fund factsheet, dated December 31st, 65.1% of gross assets were held in the UK.

Herald Investment Trust's shares were up 0.95% to 585p at 15:14.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
The world’s fund managers are getting very bullish – be careful out there
Stockmarkets

The world’s fund managers are getting very bullish – be careful out there

The latest survey of fund managers shows them to be extremely bullish on all the same things. And that, says John Stepek, means the market is in dange…
21 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021