Honeycomb IT targets share issuance after strong Covid-19 performance

2020 downturn spurs trust on for revival

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...