Business
Interim Management Statement
Interim Management Statement.
About this update from Icg Enterprise Trust Plc Gbp
[{"type":"text","content":"\n \nRNS Number : 1564B ICG Enterprise Trust PLC 14 June 2016 \n\n14 June 2016\nICG ENTERPRISE TRUST PLC\n \nINTERIM MANAGEMENT STATEMENT\nQUARTER ENDED 30 APRIL 2016\n \nICG Enterprise Trust plc (\"ICG Enterprise\" or \"the Company\") presents its Interim Management Statement for the quarter ended 30 April 2016. \n \nPerformance overview1\n \nIn the three months to 30 April, the net asset value per share increased by 1.9% to 745.2p. In the same period the share price fell 0.6% against a 3.9% increase in the FTSE All-Share Index.\n \nIn the last twelve months the net asset value per share increased by 9.9%, while the share price fell 3.0% against a 5.7% fall in the FTSE All-Share Index.\n \nIn the three months to 30 April, the value of the portfolio in local currencies increased by 1.8%. The impact of currency movements on non-sterling investments and cash balances increased the net asset value by a net 0.6%, with expenses and other items reducing it by 0.5%. Overall, the net asset value increased by 1.9%.\n \nThe long term performance of the Company remains strong, with both the net asset value and the share price comfortably outperforming the Index over one, three, five and ten years.\n \n\n\n\n\nPerformance to 30 April 2016\n\n\n1\n\n\n3\n\n\n5\n\n\n10*\n\n\n\n\nNet asset value per share\n\n\n9.9%\n\n\n24.3%\n\n\n43.7%\n\n\n101.9%\n\n\n\n\nShare price\n\n\n-3.0%\n\n\n18.0%\n\n\n59.8%\n\n\n70.3%\n\n\n\n\nFTSE All-Share Index\n\n\n-5.7%\n\n\n12.0%\n\n\n29.4%\n\n\n60.1%\n\n\n\n\n \n* As the Company changed its year end in 2010, the ten year figures are for the 121 month period to\n30 April 2016.\n \nFurther details about performance and activity in the quarter are presented below.\n \n \nPerformance and activity in the quarter\n \nValuation of the portfolio\nApproximately two-thirds of the 1.8% increase in the local currency valuation of the portfolio was driven by full exits or refinancings.\n \nProceeds\nThe portfolio generated £29.3 million of proceeds in the three months to 30 April. \n \nTen full realisations were completed, accounting for £18.3 million of the proceeds received for an average return of 1.6 times cost. Eight post-crisis investments generated an average uplift on realisation of 21% for a return of 2.7 times cost. Two pre-crisis i...