Hydrogen Capital Growth crashed 20%, or 7.8p, to 30p after writing off an £11m investment in HH2E that accounted for 8% of net assets.
This leaves the shares at a 67% discount to net asset value (NAV) with a market value of just £48m. Two days ago the company reduced its NAV per share by 2.7% to 100.8p, but made no reference to the problems at HH2E.
Source [free registration required]
Emphasis is mine - and it’s one of the two things that annoys me. The other being the funds running costs. Perhaps its times to lose one of the two fund managers that are on the InvestorMeet live streams and save on salaries?