Continued strong performance from ICG Enterprise Trust

Continued strong performance from ICG Enterprise Trust – ICG Enterprise Trust (ICGT, formerly Graphite Enterprise) is an investment trust listed on the London Stock Exchange with a diversified portfolio of private equity assets.

The company has released its results for the year ending 31st January 2018. Here are the headlines from the companies news release:

NAV per share of 959p – total return of 12.5% in the year

·   Growth driven by strong operating performance and realisation uplifts

High quality portfolio and record period for realisations

·   16.4% constant currency return on the investment Portfolio; 15.3% return in sterling

·   12% average past twelve months earnings growth from Largest 30 Companies; 47% of the Portfolio

·   £227m of realisations; cash proceeds 37% of the opening Portfolio value

·   Realisations at 40% uplift to carrying value; 2.7x multiple to cost

 Selective investment into compelling opportunities

·   £142m of new capital deployed; 42% into high conviction investments

·   Flexibility to adapt investment mix according to where the investment team see the best relative value

·   £110m committed to nine primary funds; four new relationships

 Strategic benefits of move to ICG continue to add significant value

·   £30m of co-investment alongside ICG; ICG managed investments now represents 18% of the Portfolio

·   Focus on defensive growth companies and structural downside protection

·   Continued geographic diversification; US now represents 22% of the Portfolio

Move to new annual dividend policy – dividend of 21p

·   5% increase on previous year and 2.6% yield on year end share price

·   Move to quarterly dividend payments

Continued short, medium and long-term outperformance of UK equity indices

¹ Alternative Performance Measure

ICGT : Continued strong performance from ICG Enterprise Trust