Intermediate Capital Group report 1% rise in managed assets

The global asset manager has seen strong performance from existing portfolios, as well as a resumption in realisation activity

Article updated: 21 July 2020 1:00pm Author: Joe Healey

  • AUM growth was 1% over the three months to June
  • The Group remain in a relatively healthy financial position with a well-capitalised balance sheet and £1.1bn of available liquidity
  • The Group are still expecting fundraising activity to slow heading further into the fiscal year and the share price is likely to be volatile moving forward
  • We continue to stick with a higher risk ‘HOLD’ for now.

Intermediate Capital Group released some resilient Q1 numbers this morning reporting that AUM growth was 1% over the three months to June. Resumption in realisation activity and a recovery in valuations have helped existing portfolios perform well. On another positive note, investment activity has rebounded as coronavirus restrictions have eased with fundraising momentum also continuing in line with expectations. The Group remain in a relatively healthy financial position with a well-capitalised balance sheet and £1.1bn of available liquidity with no material refinancing requirements in the next 12 months, which offers them some flexibility.

Considering the tough environment witnessed over the last few months, investors will be pleased to see Intermediate in a position of strength heading into what could be another volatile few months. The Group’s diversified strategies and global capabilities offer that element of defensiveness and resilience which we have seen feed through into this update.

Despite the longer-term nature of their funds, the Group are still expecting fundraising activity to slow heading further into the fiscal year and the share price is likely to be volatile moving forward. Therefore we continue to stick with a higher risk ‘HOLD’ for now.


All information given including prices, yields and our opinion is correct at the time of publication. Our opinions on investments can change at any time and for our latest view please go to www.share.com. To understand how our Investment research team arrive at their views please read our Investment Research Policy.

Joe Healey

Investment Research Analyst

Following his completion of the graduate scheme, Joe is an Investment Research Analyst covering equities. He holds a BA Hons Business Management degree and is currently studying towards CFA Level II after passing CFA Level I in June 2019.

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