28th Apr 2021 11:46
Alliance News) - ICG Enterprise Trust PLC on Wednesday shook off the impact of Covid-19 to post an "excellent" annual performance.
The investment company's net asset value per share on January 31 rose 20% year-on-year to 1,384.4 pence, from 1,152.1p.
The company's net asset value total return was 23%, beating the FTSE All-Share Index total return of negative 7.5%.
"This has been an excellent year for ICG Enterprise Trust, despite the disruption caused by the Covid-19 pandemic," said Oliver Gardey, head of private equity investments at manager ICG.
"While there was a slowdown in investment activity at the onset of the Covid-19 pandemic, we continued to see strong deal flow by virtue of the access we have to ICG and other leading private equity managers. The resurgence in activity during the second half of the year also resulted in a healthy number of realisations, which occurred at significant uplifts to their carrying values."
ICG Enterprise raised its payout by 4.3% to 24 pence per share from 23p.
Shares in the company were 2.7% higher at 1,125.71p each in London on Wednesday morning.
By Eric Cunha; [email protected]
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