Mercury Grosvenor Trust, the £103m (€162m) quoted vehicle managed by HgCapital, formerly Mercury Private Equity, is weathering the market slow-down with a marginal decline of 0.2% in its net asset value per share.

The trust's net asset value per share fell from 411p to 410.2p in the six months to the end of June, though the drop in earnings per share was more dramatic. It almost halved from 11.4p to 6.9p.