ICG Enterprise Trust Newsletter – June 2024

Good morning.

The last few weeks have been another busy period for the ICG Enterprise Trust team, both on the investor relations and investment front.
On the investor relations front, following on from our FY24 results released four weeks ago, we have enjoyed a very thorough and in-depth results roadshow. It is pleasing from our meetings with institutional investors and research analysts that they appreciate our focus on defensive growth and our consistent compounding NAV growth, and that our approach to capital allocation is being recognised.  On that note, you’ll recall that in our results we announced an opportunistic share buyback programme of up to £25m for FY25, to run alongside our progressive dividend policy and long-term share buyback programme. Over £6m of the opportunistic programme has already deployed across two days in May, and we are pleased to be able to back up the announcement with some action. 
On the investment front – I (Colm) have just come back from a week on the west coast of the US, meeting some of our current managers and some potential new additions to our portfolio. We like to spend time with managers to gauge market conditions, to source new deals and to develop our relationships with our investment partners. We are also both at SuperReturn in Berlin this week – a key conference for the global private equity investment community – it’s a good opportunity to take the pulse of the market and exchange perspectives. We’ll share some of our key takeaways with you next month.

Finally, looking ahead, a few dates for your June diaries:

  1. Shareholder Seminar – 18 June 2024 – interested institutional investors and research analysts should email [email protected] to register (in-person) or at this link (for virtual)
  2. AGM – 25 June 2024 – read the AGM Notice here 
  3. Our Q1 FY25 trading update will also be released in the coming weeks

Looking forward to engaging with many more of you in the coming months.

Oliver & Colm

Past performance is not reliable indicator of future results.
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