- Technology company investor HgCapital Trust said it expected there to be short-term declines in the overall value of its portfolio as Covid-19 spreads.

The company said the critical nature of software and services its portfolio meant there would be fewer direct impacts from the pandemic than might be seen in a more generalist portfolio.

'Nevertheless, whilst Hg anticipates that the portfolio in aggregate will continue to deliver growth over the long-term, the manager can see a scenario where a handful of the Hg investments potentially deliver year-on-year declines in performance and Hg are managing this appropriately,' it said.

The company also noted that market valuations overall had fallen in recent weeks.

'In summary, Hg believes that there are likely to be short-term declines in the overall valuation of our portfolio and thus in the reported net asset value,' it said.

'However, the long-term nature of listed private equity investment, the types of business that Hg invests in and the scale of the structural opportunities that these can deliver, will continue to drive long-term growth.'

At 2:17pm: [LON:HGT] Hg Capital Trust PLC share price was +7.5p at 189.5p

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