Herald Investment Trust offers investors a global exposure to TMT small caps. Since inception in February 1994, it has delivered a solid share price return of 597%, equivalent to an annualised return of 9.1%. In NAV terms the trust has delivered a return of 815%, equivalent to an annualised return of 10.4%. The NAV reached an all- time high of 900.52p as at 3rd June, yet the shares still trade on a wide discount of 22%, which is below the long term average of 14%. We think this is therefore a ve ....