Herald Investment Trust performance held back after Saba tender deal

(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.

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