Hardman & Co Research: ICG Enterprise Trust (ICGT): November Investor Forum - Defensive growth leads to reliable outperformance
ICGT gives all investors a liquid, managed option to replicate the above-market,compounding returns and risk diversification that institutional managers get by
accessing PE. An investment in ICGT, made on the period-end date in any of the past
20 years, would have outperformed the FTSE All-Share Index (Total Return) if still held
on 31 July 2021. To that date, it saw 247% 10-year share-price growth, outperforming
the index by 156%. It has consistently delivered superior returns across cycles (fiveyear NAV per share total return 16% p.a., with only two down quarters in past 20
years). In our view, the discount to NAV (15%) offers additional value.
ICG Enterprise Trust is an investment trust. Co. is a private equity investment company focused on buyouts in developed markets. Co. invests in private equity funds and also directly in private companies. As of Jan 31 2017, Co.'s total investment portfolio amounted to £594.3 million.
We are a rapidly growing, innovative corporate research & consultancy business, based in London, serving the needs of both public and private companies.
Our expert team of sector analysts and market professionals collectively have over 400 years of experience. This depth of knowledge and a reputation for integrity have built trust with investors. With effective communication and precision distribution, we help companies disseminate their investment message to interested investors, as well as advise them on strategy.
Our smaller, boutique structure allows us to provide first-class customer service and to deliver a wide range of ad-hoc services for multiple clients with different needs.
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