Tetragon Financial Group - Edison Group

Overview
Price performance
Financials
Research
Sector insights
Thematics

Edison Investment Research is terminating coverage on Tetragon Financial Group (TFG). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

Latest Insights

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Investment Companies |
Update

03.10.24

Tetragon Financial Group — Tetragon maintains its investing pace

Investment Companies |
audiovisual

10.05.24

Tetragon Financial Group in 60 seconds

Investment Companies |
Review

16.04.24

Tetragon Financial Group — FY23 growth driven by idiosyncratic factors

Investment Companies |
Update

09.08.23

Tetragon Financial Group — Leveraging up for new investments

Tetragon Financial Group_resized

Sector

Investment Companies

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	25.1	27.6	29.6
Relative	28.5	30.8	18.9
52 week high/low	US$13.1/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

Update

Investment Companies

01.09.21

Tetragon Financial Group — Muted performance in H121

Outlook

Investment Companies

27.04.21

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

Investment Companies

Update

Tetragon Financial Group — Performance remains subdued year to date

Review

Investment Companies

12.11.20

Tetragon Financial Group — Diversification limiting NAV decline

Review

Investment Companies

01.06.20

Tetragon Financial Group — Discount above peers despite solid performance

Review

Investment Companies

14.08.19

Tetragon Financial Group — Stronger NAV returns, but discount remains wide

Review

Investment Companies

09.04.19

Tetragon Financial Group — Achieving superior returns from alternative assets

edison tv

Investment Companies

05.02.19

Executive interview – Tetragon

Review

Investment Companies

06.08.18

Tetragon Financial Group — Improved returns but discount has widened

Review

Investment Companies

10.05.18

Tetragon Financial Group — Diversified alternative income and growth portfolio

edison tv

Investment Companies

31.01.18

Executive interview – Tetragon Financial Management

Update

Investment Companies

16.11.17

Tetragon Financial Group — Positive Q317 performance; Q417 tender offer

Update

Investment Companies

10.08.17

Tetragon Financial Group — Positive returns from all asset classes in H117

Update

Investment Companies

28.11.16

Tetragon Financial Group — Update 28 November 2016

Initiation

Investment Companies

09.09.16

Tetragon Financial Group — Update 9 September 2016

Further insights

insight

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15.02.19

Investment trusts

insight

Financials

01.02.19

Collateralised loan obligations (CLOs)

thematic

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Emerging markets – Worthy of consideration

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Dynam Capital at the 2024 Vietnam ESG Conference

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06.03.24

Listed private equity – Performing a balancing act

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13.02.23

European equities

thematic

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08.02.23

Listed Private Equity

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27.01.23

Vietnamese equities: Due a comeback?

thematic

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30.11.22

Investment companies: Latin America is worthy of consideration

thematic

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05.10.22

IPO apocalypse

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10.08.22

ESG, moving beyond the box tick

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10.05.22

The case for US capital markets

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07.12.20

Value Investing: Living with the reality, waiting for the inevitable

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14.08.19

Illuminator: August Update

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07.08.19

Post Woodford- A spotlight on smaller company liquidity

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11.11.14

Deutsche Börse Eigenkapitalforum 2014 Research Guide

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Investment Trusts Quarterly: Biotechnology & healthcare trusts

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13.01.12

Investment Trusts Quarterly: Growth and income