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BRIEF-Intermediate Capital Group H1 assets up 14 pct; record net inflows
November 14, 2017 / 7:18 AM / 8 days ago

BRIEF-Intermediate Capital Group H1 assets up 14 pct; record net inflows

Nov 14 (Reuters) - Intermediate Capital Group Plc

* Says ‍total assets at end-September up 14 percent from end-March to 27.2 billion euros.

* Says raised record ‍5.7 billion euros of new money, driven by Senior Debt Partners Strategy, which raised 4.2 billion euros over the six-month period​.

* Third-party fee earning assets under management down 1 percent to 18.5 billion euros due to impact of FX.

* Says ‍interim ordinary dividend up 20.0% to 9.0 pence per share​

* Fundraising pipeline strong with a number of its larger strategies expected to begin raising successor funds in next 12 months.​

* Investment company profits lower at 51.2 million pounds, (H1 2017: 92.2 million pounds), due to lower investment income​.

* Group profit before tax of 95.5 million pounds (H1 2017: 126.2 million pounds)​.

* Weighted average fee rate of 0.89 percent, down from 0.91 percent due to shift in mix of investment strategies​.

* Expects conditions driving long term attractiveness of alternative asset classes to remain even if central banks increase interest rates.​

* Source text for Eikon: Further company coverage: (Reporting By Simon Jessop)

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