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Intermediate Capital AUM rises 29% amid boost from fund inflows

By BFN News | 09:04 AM | Wednesday 22 May, 2019


Intermediate Capital reported total assets under management rose by more than fifth, driven by an influx of net fund flows amid strong demand across a broad range of its investment strategies. 

In the 12 months to 31 March, assets under management (AUM) grew 29% to €37.1bn, inflows were €10bn and third party fee earning AUM was 41% higher at €29.6bn. Fund Management company profits were up 51% to £143.8m. Earnings per share fell to 63.4p from 88.8p last year, with fund management company earnings of 49.0p, up from 44.9p last year, offset by plunge in Investment company earnings to 14.4p from 43.9p last year. 
 Group profit before tax jumped 65% to £278.3m for the year. The final dividend was hiked 67% to 35.0p per share, taking the total ordinary dividends in the year up 50% to 45.0p per share. The company said the outlook remained 'strong, with good visibility on future fundraising underpinned by a strong and diversified franchise supported by a growing institutional client base.' 'This has been an excellent year for ICG. Our disciplined investment processes and consistent investment performance have generated strong demand across a broad range of our investment strategies. Our local teams continue to originate attractive investment opportunities, while locking in returns by realising existing assets where appropriate,' said Benoit Durteste, CEO. 'While our most successful strategies continue to attract higher asset flows, we are putting in place the foundations for future growth, incubating new strategies and building out our pool of talent, and remaining alert for the opportunities any market dislocation may present.' At 9:04am: (LON:ICP) Intermediate Capital Group PLC share price was +107p at 1304p Story provided by StockMarketWire.com

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