RCS - Herald Inv Trust PLC - Update note from QuotedData

Herald Investment TrustAnnouncement

16/01/2025 12:30

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RNS Number : 6343T  Herald Investment Trust PLC  16 January 2025

Herald Investment Trust - Update note from QuotedData

16(th) January 2025

Vote against Saba to protect your investment

Herald Investment Trust (HRI) exemplifies the benefits of the closed-end
structure, allowing its manager to take a long-term view, thanks to its
permanent pool of capital, and tap into up-and-coming technology stocks at an
early stage of their development, thus providing its shareholders with a
differentiated source of alpha (https://quoteddata.com/glossary/alpha/)  - a
measure of uncorrelated returns and manager skill, the hallmark of any good
actively managed fund.

We believe that the recent attempts by Saba Capital (a US activist
(https://quoteddata.com/glossary/activist-activism/)  hedge fund that is
attacking the investment trust sector) to wrestle control of HRI, change its
investment mandate, and install itself as the investment manager represents
a significant risk to its shareholders' investment that could see them missing
out on significant upside. We side with HRI's board, believing very strongly
that shareholders of all sizes should ensure that they vote to reject all of
Saba's resolutions at the upcoming general meeting, details of which can be
found here (https://defence.heralduk.com/) .

Despite the unwelcome distraction of Saba's antics, HRI generated decent
returns over 2024, with several of its holdings reporting triple-digit
returns. In part, this reflects HRI's exposure to the themes of artificial
intelligence (AI)-based services or their critical infrastructure. HRI's share
price has also benefitted from the recent narrowing of its share
price discount (https://quoteddata.com/glossary/discount-to-nav/)  to net
asset value (NAV (https://quoteddata.com/glossary/nav/) ).

Full Research:

https://quoteddata.com/research/herald-investment-trust-vote-against-saba-to-protect-your-investment-qd/
(https://quoteddata.com/research/herald-investment-trust-vote-against-saba-to-protect-your-investment-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
and distributes research on a number of quoted companies, facilitates meetings
between those companies and existing and potential investors and assists in
raising additional capital where required.

NB: Marten & Co was paid to produce this note Herald Investment Trust Plc,
and it is for information purposes only. It is not intended to encourage the
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
trading name of Marten & Co Limited which is authorised and regulated by
the Financial Conduct Authority. Marten & Co is not permitted to provide
investment advice to individual investors categorised as Retail Clients under
the rules of the Financial Conduct Authority.

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