ICG Enterprise Trust
This month’s fund in focus is the ICG Enterprise Trust. ICG is a listed private equity investment trust whose objective is to generate long term value growth through investment in unquoted companies. The fund invests via specialist vehicles and also directly into private companies. In terms of strategy, the focus of the trust is on large highly cash generative companies located in North America and Europe.
Points to note:
- Closed-ended investment company listed on the London Stock Exchange and a constituent of the FTSE250 index
- ICG Enterprise Trust is the only UK-listed private equity vehicle that focuses exclusively on investing in buyouts globally.
- The board is maintaining its progressive dividend policy and intends to declare dividends of at least 32p for the financial year, which would represent a 2p (6.7%) increase on the previous year.
- ICG incorporates ESG considerations throughout their investment process to generate long-term, sustainable returns. They have recently completed a €10m investment in a corporate governance & compliance software called Archer.
- We believe ICGT is well placed in the current uncertain economic environment with the manager focusing on defensive growth companies which are able to continue to generate returns in a range of economic conditions, as well as having no exposure to venture and growth equity
- As of 30th June 2023, ICG was trading at a 40% discount to its NAV.
As always, you should only consider the investment views contained in this ICG Enterprise Trust Fund update in the context of your own attitude to risk and how such choices might impact your Asset Allocation model. Should you wish to discuss your investment portfolio, please contact Harvest Financial Services on 01 2375500 or email justask@harvestfinancial.ie.