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Tetragon Financial Group (LSE: TFG)

Last close As at 02/10/2024

USD10.15

— 0.00 (0.00%)

Market capitalisation

USD1,418m

Tetragon Financial Group’s objective is to generate distributable income and capital appreciation, aiming to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. Tetragon’s investment portfolio comprises a broad range of assets, including public and private equities and credit, real estate, venture capital, infrastructure, bank loans and a diversified alternative asset management business.

Latest Insights

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Investment Companies | Update

Tetragon Financial Group — Tetragon maintains its investing pace

Investment Companies | audiovisual

Tetragon Financial Group in 60 seconds

Investment Companies | Review

Tetragon Financial Group — FY23 growth driven by idiosyncratic factors

Investment Companies | Update

Tetragon Financial Group — Leveraging up for new investments
Tetragon Financial Group_resized
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Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Michal Mordel

Analyst, Investment trusts

Key Management

  • David O’Leary

    Independent Directors

  • Deron Haley

    Independent Directors

  • Paddy Dear

    Co-Founder and Director

  • Reade Griffith

    Co-Founder, Director & Head of Inv. Committee

  • Stephen Prince

    Head of TFG Asset Management

  • Steven Hart

    Independent Directors

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 1.5 (0.5) 2.5
Relative 2.4 (2.7) (7.8)
52 week high/low US$10.3/US$9.7

Overview

Tetragon Financial Group (Tetragon) reported a 1.3% return on equity (RoE) in H124, with its net asset value (NAV) per share increasing by 1.9% in US dollar total return (TR) terms, and further 3.8% to end-August. The portfolio continued to generate solid cash flow, predominantly from collateralised loan obligation (CLO) structures and through fees from asset management businesses, which Tetragon recycled back into the portfolio (mostly public stocks) and was a net investor in the period. Tetragon continues distributions to shareholders, with a dividend yield of 4.3% (above the peer average and on top of share repurchases). As a result, Tetragon increased the amount drawn on its revolving credit facility and its leverage at end-August 2024 stood at record-level of 13.1% of NAV.

Research

audiovisual

Investment Companies

Tetragon Financial Group in 60 seconds

Review

Investment Companies

Tetragon Financial Group — FY23 growth driven by idiosyncratic factors

Investment Companies

Update

Tetragon Financial Group — Tetragon maintains its investing pace
Tetragon Financial Group_resized

Update

Investment Companies

Tetragon Financial Group — Leveraging up for new investments
Tetragon Financial Group_resized

Review

Investment Companies

Tetragon Financial Group — Navigating challenging times

Update

Investment Companies

Tetragon Financial Group — Comfortable liquidity situation

Review

Investment Companies

Tetragon Financial Group — More resilient than public equities in H122

Outlook

Investment Companies

Tetragon Financial Group — Offering a diverse exposure to alternative assets

Update

Investment Companies

Tetragon Financial Group — Performance remains subdued year to date

Update

Investment Companies

Tetragon Financial Group — Muted performance in H121

Outlook

Investment Companies

Tetragon Financial Group — TFG Asset Management grows in AUM and value
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Further insights

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Collateralised loan obligations (CLOs)

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