Q1 update for the three months ended 30 April 2026

ICGT Portfolio demonstrating resilience

Highlights

  • Q1 NAV per Share Total Return of 0.1%. NAV per Share of 2,036p at 30 April 2026
  • Portfolio Return on a Sterling Basis of 0.2% (flat on a Local Currency Basis)
  • Maintaining our investment programme through the cycle: £34m New Fund Commitments and £22m Total New Investments
  • Total Proceeds of £51m, driven by exits from two of our top 30 companies, Curium and Yudo (#4 and #17 respectively at 31 Jan 2026). In the last 3 months, 11 Full Exits executed, at a weighted average Multiple to Cost of 3.1x and Uplift to Carrying Value of 7.3%
  • Robust balance sheet: £225m Total Available Liquidity; £34m Net Debt (£1,327m Portfolio Value)
  • £14m buybacks executed in the quarter, adding 9p to NAV per Share1
  • Q1 dividend per share of 9.5p; Board intends to pay total dividends of at least 42p per share for FY27 (FY26: 39p)
  • 20% reduction in the management fee cap to be implemented over next two financial years: 1.125% of NAV from 1 February 2027 and 1.00% of NAV from 1 February 2028

1 Figure includes both long-term and opportunistic buyback programmes

Presentation

Results Centre

View or download results