![]() ![]() ![]() Tetragon Financial Group is a closed-ended investment company traded on the London Stock Exchange ( LSE) and Euronext Amsterdam. The potential growth in its AUM could be reflected in their carrying value and has the potential to increase Tetragon’s income through collected fees.įund profile: A broadly diversified portfolio Furthermore, TFG Asset Management ( TFG AM) provides Tetragon investors with exposure to a number of asset management businesses. At the same time, the investment manager continues to believe that niche, capacity-constrained, specialist investment strategies can generate attractive risk-adjusted returns with lower market risk. In this context, it is important to note that Tetragon’s long-term investment approach allows it to invest in less liquid assets and retain these positions even if they temporarily fall out of favour. These investments often appear less expensive than the broader market, constituting potential opportunities for Tetragon. The investment manager believes the majority of capital has been deployed passively into the most liquid assets, which results in a high level of disparity in market valuations of less liquid names. This has also made valuations highly vulnerable to any major global shocks, as illustrated by the current impact of the coronavirus outbreak. In recent years, central banks have adopted an accommodative monetary policy that has pushed valuations up in several credit and equity markets, and in turn lowered the expected returns compared to those achieved historically. The manager’s view: Opportunities outside of the mainstream US$6.3bn global real estate asset manager US$7.1bn UK infrastructure fund asset manager ![]() Portfolio exposure by asset class (at 30 April 2020) Allotments mainly relate to scrip dividends. Seven tender offers totalling US$525m completed since 2012. Market share repurchases made up to 2013. Tetragon pays dividends quarterly and has recently changed its dividend policy to a flexible approach amid market volatility. Share buyback policy and history (financial years) Peter Port, Guernsey, GY1 1EJĭividend policy and history (financial years) ![]()
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