30. November 2023

Investors Chronicle: Exploit this cash-rich fund’s 46% discount

Simon Thompson covered Augmentum’s results in his latest piece for Investors Chronicle.

“Augmentum Fintech (AUGM:87p), the first publicly listed fintech fund, delivered a resilient first-half performance highlighting the chronic undervaluation of its shares.

Not only is the group’s market capitalisation of £148.4mn a massive £125mn below net asset value (NAV) of £273.3mn (160.2p) at the half-year end, but Augmentum holds net cash of £51.1mn (30p). The cash pile was boosted last summer when workplace pensions and savings provider Cushon was sold to NatWest Group (NWG). The transaction delivered a return of 2.1 times Augmentum’s invested capital on its holding and realised cash proceeds of £22.8mn.”

Read the full article here