Herald Investment Trust (HRI) was launched in 1994, and Katie Potts has been the trust's lead manager since its IPO. It holds a globally diversified portfolio of around 300 small-cap technology stocks; roughly a third of its portfolio is based in the UK (down from around two-thirds historically), another third is in North America, with the remainder in EMEA, Asia Pacific, and fixed-income securities. HRI tends to be a long-term holder and supports many companies via fundraising as they seek to grow their businesses. Its NAV returns since inception to July 2025 have been 11.4% per year for HRI,...