H&G High Conviction Limited Maintains Stable Net Tangible Asset Value of $0.010 Per Share as of June 2026

Overview of H&G High Conviction Limited’s Portfolio and Operations

Listed on the ASX under ticker HCF, H&G High Conviction Limited operates as an investment company headquartered in Sydney, New South Wales, with offices at Level 11, Suite 11.02, 68 Pitt Street. The company’s core activity involves investing in a portfolio of securities to provide shareholders with exposure to managed investment returns. Its strategy centers on allocating capital into listed securities aimed at generating long-term shareholder value.

Operating within the Australian investment management industry, H&G High Conviction Limited competes alongside other listed investment companies and managed funds. Its structure offers investors access to a diversified portfolio managed in line with the company’s investment criteria and conviction framework. Compliance with ASX Listing Rules mandates regular disclosure of the company’s net asset position, ensuring transparency and accountability to shareholders.

June 2026 Net Tangible Asset Value Remains Unchanged at $0.010

As of 30 June 2026, H&G High Conviction Limited reported an NTA per ordinary share of $0.010, consistent with the figure recorded on 31 May 2026. This key metric reflects the net assets attributable to each share, serving as a fundamental gauge of the company’s value proposition for investors. The unchanged NTA suggests that portfolio activity in June 2026 did not produce significant net gains or losses affecting per-share valuation.

The stability between the two reporting periods indicates a relatively steady portfolio during the month. Investors commonly monitor monthly NTA changes as a performance indicator since fluctuations reflect shifts in the underlying asset values. The matching June and May NTA implies that any positive or negative movements in individual holdings offset each other within the broader portfolio.

Deferred Tax Adjustments Have No Material Effect on NTA Calculation

H&G High Conviction Limited disclosed that its NTA per share after all tax considerations remained at $0.010, identical to the pre-tax figure. This demonstrates that deferred tax liabilities or assets did not materially influence the net asset backing reported to shareholders. The alignment of pre- and post-tax NTA figures indicates that the company’s tax position does not create a significant gap between gross asset value and net shareholder value.

Understanding deferred tax treatment in NTA calculations is crucial for investors, as tax obligations or benefits can affect the economic value per share. When pre- and post-tax NTA figures are the same, it typically means deferred tax liabilities are minimal or offset by deferred tax assets. This transparency enables shareholders to evaluate their investment’s full economic position without concerns over hidden tax exposures that might arise later.

Valuation Based on Last Sale Prices of Listed Securities

The company confirmed that its net asset value was determined using last sale prices for all listed investments in the portfolio. This standard valuation approach for investment companies holding publicly traded securities ensures that asset values reflect current market prices rather than historical costs or theoretical estimates. Using last sale prices provides a realistic and transparent measure of the portfolio’s liquidation value at prevailing market rates.

The announcement also notes that the net asset value calculation is unaudited, consistent with typical monthly reporting practices for investment funds. Monthly NTA figures are internally calculated and provided for informational purposes, while annual or semi-annual valuations undergo independent audits. Investors should consider this distinction when relying on NTA data for investment decisions, as unaudited figures may be subject to adjustments during formal audits.

Monthly NTA Reporting in Compliance with ASX Listing Rule 4.12

H&G High Conviction Limited’s disclosure of monthly NTA backing per share complies with ASX Listing Rule 4.12, which requires certain listed investment companies to regularly report their NTA per share. This regulatory obligation ensures shareholders and potential investors receive timely valuation information. Adhering to this rule reflects the company’s commitment to regulatory compliance and shareholder transparency.

The monthly NTA disclosure framework supports the investment fund ecosystem by providing investors frequent updates to assess their holdings’ value, enabling comparisons across investment companies, and helping prevent prolonged discrepancies between NTA and share price. For H&G High Conviction Limited, maintaining this reporting schedule is an essential part of its responsibilities as an ASX-listed entity.

Investor Use of Monthly NTA Trends to Evaluate Portfolio Performance

Shareholders in H&G High Conviction Limited may find monitoring monthly NTA trends valuable for assessing portfolio health over time. While a single month’s stability is reassuring, longer-term NTA trends offer deeper insights into the effectiveness of the company’s investment strategy. Sustained growth in NTA over quarters and years typically signals successful stock selection and market timing, whereas declining trends may indicate performance challenges or adverse market conditions.

The monthly reporting frequency provides more immediate visibility than quarterly or annual reports alone, helping investors determine if the fund’s strategy aligns with their expectations and if the investment thesis remains valid. Over time, NTA movement patterns can reveal whether the company outperforms or underperforms broader market benchmarks, aiding ongoing investment decision-making.

Context of Australia’s Listed Investment Company Sector

H&G High Conviction Limited operates within Australia’s listed investment company (LIC) sector, which includes numerous closed-ended funds traded on the ASX. LICs have grown in popularity among Australian investors seeking diversified equity exposure or specialized strategies. This sector competes with managed funds, ETFs, and direct stock ownership, with LICs differentiating themselves through active management, specialist focus, and potential share price premiums or discounts to NTA that create trading opportunities.

The Australian LIC market has evolved with increased emphasis on transparency, lower fees, and investor alignment. Companies like H&G High Conviction Limited must navigate this competitive landscape while maintaining regulatory compliance and delivering consistent performance to justify their listed status. Monthly NTA disclosures help ensure accountability and facilitate comparisons with alternative investment options.

Contact Information and Resources for Shareholders

H&G High Conviction Limited provides contact details for shareholders and interested parties seeking further information. Executive Director Alexander Beard is available via the telephone number listed in the company update, offering a direct channel for inquiries about NTA reporting, portfolio strategy, or operational matters without requiring formal correspondence.

The company’s registered address at Level 11, Suite 11.02, 68 Pitt Street, Sydney NSW 2000, along with its website at highconviction.com.au, offer additional resources for investors seeking comprehensive information. Shareholders are encouraged to utilize these contacts and resources to gain a thorough understanding of the investment strategy, portfolio holdings, and other company details to make informed decisions regarding their investments.