4th Feb 2021 09:26
(Alliance News) - ICG Enterprise Trust on Thursday hailed its third-quarter performance, adding that it outperformed its benchmark and booked a double-digit net asset value hike.
The investment firm's net asset value per share at October 31 was 1,243.0 pence, up 10% from 1,126.9p at the end of July.
Shares in the company were up 5.7% at 997.52 pence each in London on Thursday morning.
ICG Enterprise reported an 11% NAV per share total return during the three-month period, beating the FTSE All-Share Index which returned negative 3.2%.
"We were extremely pleased with the performance we delivered in this strong third quarter. The significant returns delivered across the portfolio demonstrate the benefits of our differentiated strategy of actively constructing a portfolio of investments with defensive growth characteristics," ICG head of Private Equity Fund Investments Oliver Gardey said.
For the quarter, the company received GBP55 million worth of proceeds from realisations, taking the year-to-date figure to GBP94 million.
ICG Enterprise declared 5p per share third-quarter payout, unchanged annually. Its year-to-date dividend stands at 15p, also unchanged from the year prior.
Among the companies investments are PetSmart, a US-based animal products retailer and DomusVi, a French retirement homes operator.
By Eric Cunha; [email protected]
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