|ICG Enterprise Trust
||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
ICG Enterprise Share Discussion Threads
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|Sale of largest position at v good uplift.
|From earlier this month, 3rd quarter. Worth noting that with ICG behind it, it is becoming a more fully invested ie a less conservative vehicle.
|Parent company ICG's interims out this morning, spotted a couple of vaguely relevant snippets:
Elsewhere, we have made good progress in raising our first Strategic Secondaries fund which is dedicated to the highly complex and structured part of the secondaries market. To date we have raised $347m, of which $180m was raised in the first half of the financial year. As one of our newer strategies, the success of this fund, with fees charged on committed capital, is contributing to our growing fund management profits. We have also seen increased interest in our liquid strategies following the arrival of Zak Summerscale to lead this business in June 2016. We are cautiously optimistic that we will be able to convert investor interest into investor commitments over the coming months, thereby increasing the profitability of this scalable strategy.
Secondaries third party funds under management have increased 15% to €1.1bn, with new AUM of €162m ($183m) raised in the period for our Strategic Secondaries strategy. A further close is expected shortly and there is a good pipeline of investors which would take the Fund to its target size of $1bn, including a $200m commitment from the balance sheet.|
|vacendak - just looked back over a few PE purchases in the past 3months:
# Stamp Duty paid: LMS & MTH
# No Stamp Duty: APEF, HVPE, NBPE & OCL
Doesn't affect the investment decision of course; just gives one a warm glow for contributing funds for the NHS!|
|Having sold on the spike I'm pleased to have bought these back at 647.75p today - it was more of a case of banking a quick turn than a conviction sale.
So, happy to be back in and now look forward to the next IMS (8th December last year).
Not happy with the £129 Stamp Duty though!|
|Agreed, good figures. The NAV at 798p just slightly shy of my 800p-810p estimate; but surely the stand-out aspect is the para below. A MINIMUM of 20p/share annual dividend. That 20p puts us on a respectable 3.2% yield at 620p.
The Interim divi of 10p will be paid 21st October (XD 6th October)
In the period the Company paid a final dividend of GBP4.3 million for the year to 31 January 2016, equivalent to 6.0 pence per share. In order to provide shareholders with greater clarity of the income they can expect from the Company, the Board anticipates paying a minimum dividend each year of 20.0 pence per share. We intend to maintain the practice of paying an interim dividend and we are pleased to declare an interim ordinary dividend of 10.0 pence per share to be paid on 21 October 2016(3) .|
|Another set of strong results- sitting on a 22% discount, so fully jstifies the climb in the share price|
|NAV here must be North of 800p by now; so bought a few today @ c611p. Had to pay Stamp Duty darn it - only a minority of PE trusts afflicted by this penal tax!|
|Results presentation offers some colour on what ICG's intentions are - nothing radical, but to tune up the engine a bit.
|Fair set of results, with nav up 8% to 730p and plenty of upside residing in the current portfolio. New manager hints at its potential advantages, but too early in its tenure to draw any conclusions as yet.
|Well I like the new slightly more salesy pitch coming from ICG. Perforamcne for last year under Graphite management strong as well.|
|Results out tmrro should see at least a bit of an uplift in nav since 31 Oct/June (see para below). And also the new managers setting out their stall to some degree, i hope.
In the most recent quarter, the three months to 31 October, the net asset value decreased slightly by 0.1%. As few of the managers of our fund portfolio revalue their investments at September, the great majority of the portfolio effectively remains at its reported June valuation.|
|likewise - thnx Ram...& thnx for providing the links|
|Results due 15 April, when will hopefully get a proper explanation as to reasons, plus points etc for management company change. In meantime has fallen, along with rest of peit sector, to big discount. Too big imho...
And here's last year's AGM presentation:
The private equity thread...
Old manager and largest funds holding...
New manager, from Feb 2016...
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