It was excellent to meet and talk with a number of you following the release of our H1 results on 5th October. We found our discussions wide ranging, thoughtful and enjoyable. The focus of our conversations was generally around underlying portfolio company performance (our enhanced perimeter disclosure, covering ~66% of the Portfolio at H1, was useful there); valuations; deployment and realisation outlook; and our focus on the shareholder experience… specifically our progressive dividend policy, long-term buyback program, and distribution and marketing activity. For those of you who were unable to join the webcast, a recording is on our website.
On the point of our distribution and marketing activity, we are delighted to have recently partnered with David Harris and the team at Cadarn Capital. We have a clear purpose to enable more of the investment community to access the growing asset class of private equity, and within that, we strongly believe we offer a differentiated, long-term investment strategy that could form a core part of investors’ portfolios. David and the Cadarn team will seek to increase the awareness of ICG Enterprise Trust amongst IFAs1 and DFMs2 around the country, and we are excited to be working with them on this endeavour.
In a market that remains challenging to navigate, we are sticking to our long-term investment strategy; being cautious in how we deploy capital while continuing to invest through cycles; and ensuring we are able to access a diverse range of investment opportunities through our primary commitment programme.
As always, we thank you for your continued support.
All the best,
Oliver & Colm
1IFA: independent financial advisor 2DFM: discretionary fund manager