HINT's secondary issuance, the combination with HGL and NAV performance, have more than quadrupled the fund's size since launch in 2011. With a market cap of c£191m, the fund is beginning to enjoy economies of scale and should now appear on the radar of a new group of liquidity focused investors. We also highlight next week's index review which could also create incremental demand. Manager Ben Lofthouse's focus on free cash flow and preference for mid-range (2-6%) covered dividend yield
