Honeycomb IT targets share issuance after strong Covid-19 performance

2020 downturn spurs trust on for revival

David Brenchley
Matthew Potter of the Honeycomb investment trust

Matthew Potter of the Honeycomb investment trust

Pollen Street's Matthew Potter hopes strong capital preservation through 2020's economic downturn alongside the disappearance of high-profile, large shareholders Neil Woodford and Mark Barnett will help propel Honeycomb IT back to a premium and enable it to raise cash and grow through what he believes will be "a good year" for the trust.

Potter said the damage Covid-19 wrought on the UK economy last year had given Honeycomb the chance prove it could provide a high yield alongside capital preservation and downside protection during stressed environments. Despite a tricky period from March through to the summer, as unemployment ticked up due to lockdowns enforced to tackle the coronavirus pandemic, the £337m trust continued its record of delivering positive net asset value returns every month since its December 2015 IPO. Baillie Gifford US Growth in danger of running out of steam - Stifel The trust provides debt faci...

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