Icg Enterprise Share Discussion Threads

[rambutan2] 22/4/2022 16:32

Re Chewy:
On 31/10/21 ie at last quarterly valuation, CHWY was $75. It represented approx 6% of nav.
On 31/01/22 ie Y/E valuation date, which is due out thurs, it was $47.
As of this minute it is trading at $35.

[its the oxman] 08/4/2022 16:11

Added a few 1134p. Hoping next nav uodate is positive despite chewy.

[killing_time] 30/3/2022 09:07

Chewy is currently down 14% pre market.

4Q Results were out after the bell yesterday. Market didnt like them.

[skyship] 30/3/2022 08:57

Finals 28th April last year - so another 4weeks to go before we see an updated NAV.

Chewy a better market recently; so the current 30% discount is 4%-5% more than most peers.

[mrscruff] 28/3/2022 20:52

Closed above 30 percent discount. It's a buy.

[mrscruff] 28/3/2022 20:51

The largest holding was done 50 percent from last ICGT NAV snapshot around November knocking 3 percent from ICGT NAV. But Chewy is making a comeback.

[lomax99] 28/3/2022 16:55

How well is their largest holding doing?

[ali47fish] 28/3/2022 16:10

anyone understands the retrace and is it time to invest or add

[spangle93] 03/3/2022 11:48

New Kepler research piece

[rambutan2] 23/2/2022 22:25

riverman77, re your concern. All I would say is that the only time I remember there being big markdowns across the listed PE trusts was 2009. And a chunk of that came from the trusts' boards, who all got overly worried, and would have to write it back later on. Of course, the mkt also didn't believe the valuations hence the really huge discounts which opened up - I remember buying some PIN at 115p on an 80%+ discount! But, none of the trusts' ports did come a cropper as despite what you read in the media, most PE is conservatively valued - hence the big uplifts on selling. Since then, I would say that the managers have gotten even better, use less leverage and add more value to their businesses. Likewise the trusts themselves are better run with better boards. But, Mr Mkt is determined in his opinion that PE is not the thing to be holding during wobbly times...

[skyship] 23/2/2022 21:05

Thnx Ram - if only they didn't have 6% of the port in CHEWY!

[riverman77] 23/2/2022 19:41

When calculating the NAV, remember to knock off around 3% for the sharp fall in the Chewy shares price. It was a 6.5% position in the fund and fallen by around 40% since October.

My concern is, if the listed positions have fallen this much (and there have been similar falls in the listed positions of other PE funds), then surely the unlisted positions would also need marking down, perhaps quite meaningfully?

[rambutan2] 23/2/2022 16:56

From earlier this month:

[skyship] 23/2/2022 16:29

Surely now oversold - on offer at 1116p for a 31.2% discount (Oct'21 NAV).

[deadly] 14/2/2022 11:49

up today despite the heavy market falls!!

[tonio] 03/2/2022 10:01

Chewy isn't looking too good and at 6.2% of portfolio value in October a fall of 40% in its value would be loss to the portfolio of 2.5% - not a lot seemingly compared to a 24.2% share price discount to NAV.
As to Chewy, going forward 'expectations have certainly been reset' from its 2020 heyday but seeking alpha are optimistic:

[rik shaw] 03/2/2022 09:46

Maybe but other holdings may have increased NAV since end of Oct 21 to balance one holding dropping.

[skyship] 03/2/2022 09:19

tonio - one thing always to bear in mind here is the 40% fall in their largest holding - Chewy. So the apparent 24.2% discount is actually rather less.

[joe say] 03/2/2022 08:04

Now been updated

[rik shaw] 02/2/2022 22:47

There was a market update yesterday stating NAV at end of Oct 21 1628p. That's the best information available at present. HL's estimate has not been updated yet in line with yesterday's RNS.

[tonio] 02/2/2022 19:06

I've been and am a happy investor in ICGT for a year or so as I was in Graphite some years back but I am a bit puzzled at the moment.
Hargreaves Lansdown has the measured NAV as of 31st October as 1628 but still has the estimated NAV as of today as 1524.72.
Who does this estimate- ICGT presumably? Anyone know if this really is the up to date estimate or have HL not received that?
Out of interest is this rather than the historic measured NAV influencing the share price today?
Just ignore if my naive questions are irrelevant :-)

[skyship] 01/2/2022 09:09

As with most threads the latest news item appears beneath the chart - see above.

[ali47fish] 01/2/2022 09:04

sky just copy it under your post I don't know which line in the heaader

[skyship] 01/2/2022 08:23

NAV climbs to 1628p - see News in Header

[strathroyal] 21/1/2022 20:33

£27M