LONDON (dpa-AFX) - Specialist asset manager Intermediate Capital Group plc (ICP.L) reported Tuesday that its total assets under management or AUM for the three months to June 30 increased 1 percent to 45.6 billion euros on March 31.
Third party fee earning AUM was 1.4 percent higher at 36.4 billion euros over the same period.
Total AUM included 2.3 billion euros balance sheet investment portfolio.
The company said its existing portfolios are performing well. There is positive indications of a recovery in valuations, with resumption in realisation activity at pre-Covid-19 valuations.
As Covid-19 restrictions ease, investment activity is rebounding and fundraising momentum continues, in line with expectations. The company said 1.2 billion euros of new money raised despite the longer onboarding process in place since the start of the pandemic.
Benoit Durteste, CEO, said, 'The start of the financial year has been encouraging. Our portfolios are showing signs of improved performance, noticeably better than expected at year-end, indicating a recovery of valuations from their end of March lows. ...Our business is in a resilient position, with long-term fee streams, diversified portfolios and well-capitalised balance sheet. We are therefore well-placed for significant long-term growth and value creation.'
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