HARDMAN & CO RESEARCH Hardman & Co Research on ICG Enterprise Trust plc (ICGT): FY results: proving the market-beating model again
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Hardman & Co Research
Hardman & Co Research on ICG Enterprise Trust Plc (ICGT): FY results: proving the market-beating model again ICGT reported another strong year to end-January 2023. The NAV per share was 1,903p, up from 1,690p in January 2022. The NAV total return was 14.5%, driven by the local-currency portfolio return of 10.5%, its 14th consecutive year of double-digit growth. Realisations and new investments were in line with historical averages. On exit, ICGT saw an average 24% uplift, despite the challenging market conditions. It has a progressive dividend policy (up 11%), is doing share buybacks (£5.2m), and has a new, reduced management fee. ICGT’s investee companies offer good risk-adjusted returns and defensive characteristics, giving investors both growth and resilience. Please click on the link below for the full report: If you are interested in meeting the company, you can register your interest by clicking on the above link
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1647439 01-Jun-2023