RCS - Capital Gearing Tst - Update from QuotedData

Capital Gearing TrustAnnouncement

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RNS Number : 0484O  Capital Gearing Trust PLC  07 January 2026

Capital Gearing Trust - Update from QuotedData

7 January 2026

Defensively positioned, cautious on inflation

The managers of Capital Gearing Trust (CGT) remain cautious about market
and inflation (https://quoteddata.com/glossary/inflation/)  risks, and have
adjusted the trust's portfolio to reflect this. Exposure to risk assets was
reduced to 25% by the end of November 2025, while holdings in UK
inflation-linked bonds (https://quoteddata.com/glossary/bonds/)  were
increased.

Last November, the managers opposed a proposed merger for HICL Infrastructure
(one of the holdings in the risk assets part of CGT's portfolio), leading a
campaign group of HICL shareholders against it. The deal was stopped, and
HICL's share price has since recovered. This highlights the
behind-the-scenes work CG Asset Management (CGAM) does to reduce discounts
across UK-listed investment companies.

Full Research:

https://quoteddata.com/research/capital-gearing-trust-defensively-positioned-cautious-on-inflation-qd/
(https://quoteddata.com/research/capital-gearing-trust-defensively-positioned-cautious-on-inflation-qd/)

This research is also available free on our website www.quoteddata.com
(http://www.quoteddata.com) where you will also find news, performance data
and factsheets on every London listed Investment Company. QuotedData writes
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NB: Marten & Co was paid to produce this note Capital Gearing Trust Plc,
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reader to deal in the security or securities mentioned in this report. Please
read the important information at the back of this note. QuotedData is a
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