17 Jun 2020

Q1 results to 30 April 2020

Quarterly update for the 3 months to April 2020

Highlights

  • NAV per share of 1,100p; a total return of -4.1%
  • Investment portfolio return of -3.8%
  • Resilient performance reflects our focus on defensive growth
  • Q1 dividend declared of 5.0p

Oliver Gardey, Head of Private Equity Fund Investments, ICG, commented:

“We are encouraged by the resilience shown by the Portfolio in the first quarter of the year, with the majority of our portfolio companies expected to experience only short term headwinds or to be minimally impacted by the COVID-19 pandemic and its economic fallout. We note a number of our portfolio companies are performing well as their business models have adapted to current market conditions. We are also seeing the benefits of the private equity model in more challenged investments, where the ability to react quickly and decisively to the changing economic environment is now more vital than ever.

Our investment approach means that we have built a Portfolio that is focused almost exclusively on buy-outs in developed markets and has minimal exposure to early stage investments or sectors such as financials and energy. Our focus on top tier managers with experience of managing through cycles gives the portfolio access to strong in-house operating capabilities and dedicated support in areas such as managing liquidity and financing, which we believe means they are well placed to manage through current market volatility.

We are pleased with the seamless transition of our team’s remote working capabilities which has allowed our business operations to continue uninterrupted during these challenging times; our staff are the most important part of the business and we are still taking the necessary actions to protect them. Having navigated the initial stages of the crisis, our focus is on actively managing the Portfolio and remaining nimble. While in the short term, we do not expect to see significant new investment activity, when markets stabilise we are well placed to benefit from more favourable entry valuations and take advantage of the opportunities as they arise”

Share price (ICGT)

1,130p
-10.00P (-0.88%)
3:56AM 17 Oct 2021
The share price information is delayed by at least 15 minutes

Net Asset Value

1,523p
As of 31 July 2021
Next update: Q3 results for quarter ended 31 October 2021
Year Net assets NAV per share Share price Dividends per share
Jan 2021 £952m 1,384p 966p 24p
Jan 2020 £794m 1,152p 966p 23p
Jan 2019 £731m 1,057p 822p 22p
Jan 2018 £664m 959p 818p 21p
Jan 2017 £613m 871p 698p 20p
Jan 2016 £521m 731p 545p 11p
Jan 2015 £507m 695p 575p 15.5p
Jan 2014 £494m 677p 563p 15.5p
Jan 2013 £460m 631p 487p 5p
Jan 2012 £415m 569p 357p 5p
Jan 2011 £389m 534p 308p 2.25p
Dec 2009 £338m 464p 305p 2.25p
Dec 2008 £327m 449p 187p 4.5p