# HgCapital Trust: UK Tech Investment Trust

> HgCapital Trust's shares trade 26% below NAV despite AI fears, with strong exits and new investments.
- Title: HgCapital Trust: UK Tech Investment Trust · MoneyWeek
- Summary: HgCapital Trust's shares trade 26% below NAV despite AI fears, with strong exits and new investments.
- Keywords: hgcapital trust, tech investment trust, net asset value, ai impact, software companies, investment exits, portfolio performance, MoneyWeek
- Source: MoneyWeek — https://moneyweek.com/investments/funds/hgcapital-trust-should-you-invest-in-britains-unloved-tech-champion
- Published: 2026-11-06T09:37:26+00:00
- Read time: 1 min
- Topics: hgcapital trust, tech investment trust, net asset value, ai impact, software companies, investment exits, portfolio performance
## HgCapital Trust's market position
HgCapital Trust is Britain's second-largest listed tech company with a £2 billion fund.
## Share price discount
Shares trade 26% below net asset value despite recent premium in late 2024.
## Investment trust structure
Professional managers avoid funds managed by others due to risk aversion.
## AI sector impact
AI fears caused software shares to fall, affecting HgCapital Trust's net asset value.
## Recent performance
HgCapital Trust reported 16% revenue and 19% net cash flow growth over 12 months.
## Visma listing delay
Visma's postponed listing is bad news for HgCapital Trust's largest holding at 12% of portfolio.
## Investment exits
HgCapital Trust made three full exits, one partial exit and four re-financings in 2026.
## Key takeaway

HgCapital Trust's shares trade 26% below net asset value as it shows resilience through AI-driven software investments and strong exits.