Herald Investment Trust - Annual Overview from QuotedData
17 November 2025
Focused on the future
In January, we explained why Saba Capital's proposals were not in the best interest of Herald Investment Trust (HRI) shareholders and urged a vote against them. Most investors agreed, resulting in a clear rejection of Saba's proposals.
Although Saba remains a shareholder and brings some uncertainty, HRI continues to benefit from its closed-ended structure, allowing long-term investment in early-stage technology companies. The portfolio has gained from its exposure to Artificial Intelligence (AI), and the managers see further potential as this trend expands to more innovative smaller firms.
HRI is also increasing its international investments, with North America now its largest regional holding. This shift reflects tougher conditions in the UK and more attractive opportunities abroad.
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