In the second part of this investor Q&A, Mark Thomas continues his conversation with Colm Walsh, Co-Manager of ICG Enterprise Trust, to explore more questions submitted by investors.
The discussion covers the trust’s approach to gearing and interest-rate sensitivity, as well as how the underlying portfolio is managed through different market and interest-rate environments.
We hear about ICG Enterprise Trust’s dividend policy, share buybacks and the persistent discount to NAV affecting listed private equity trusts. Colm addresses questions around the sustainability of shareholder returns and the balance between retail, wealth management and institutional demand for ICGT shares.
Watch the full interview to hear the questions investors are asking and Colm’s responses.
0:44 – Gearing and interest-rate sensitivity
4:25 – Tackling the discount to NAV
5:13 – The thinking behind ICGT’s dividend and buyback policies
7:07 – Can buybacks really close the discount?
7:45 – How sustainable is the dividend?
9:01 – Where will future demand for ICGT shares come from?
Watch ‘ICG Enterprise Trust – Your questions answered: Part 1’.
In the first episode, Colm discusses the trust’s approach to investing in private equity and its positioning in an uncertain economic environment. The conversation explores ICG Enterprise Trust’s defensive growth strategy, recent market challenges and the outlook for transaction activity and exit uplifts.
Read the latest research on ICG Enterprise Trust.
ICG Enterprise Trust is a London-listed fund investing primarily in profitable, cash-generative private companies in Europe and the US to generate long-term defensive growth. It is the only UK-listed private equity investor that focuses exclusively on investing in buyouts globally. ICGT is one of ca.10% ITs that are “ISA-millionaire” investments.
