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Intermediate Capital ShareCast News (ICP)
ShareCast News for Intermediate Capital (ICP)
| Share Price: 488.00 | Bid: 487.40 | Ask: 488.00 | Change: 0.00 (0.00%) |  | ||||||
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Resilient performance at Intermediate Capital
Tue, 10th Jul 2012 08:08
Assets under management at mezzanine finance specialist Intermediate Capital have headed higher since the end of March.
Assets under management are up 3.5% to €11.8bn since the beginning of the company's financial year.
On the mezzanine funds side, the group said it is making progress towards the €2bn target for its European Fund V and the launch of a successor to its Longbow fund.
As for its credit funds, the portfolios have been "defensively positioned" and "are showing resilience in the current market," the group said. As a result, the company added, the loan funds continue to deliver a strong performance, with minimal default rates.
The investment company's portfolio performance was also described as "resilient", although, the general economic conditions are affecting a small number of the group's weaker assets.
A total of £41m of principal repayments have been received in the quarter and £10m of rolled up interest has been crystallised. New investments totalling £88m were made during the quarter. The group had untapped bank facilities of £449m as at the end of June.
JH
Assets under management are up 3.5% to €11.8bn since the beginning of the company's financial year.
On the mezzanine funds side, the group said it is making progress towards the €2bn target for its European Fund V and the launch of a successor to its Longbow fund.
As for its credit funds, the portfolios have been "defensively positioned" and "are showing resilience in the current market," the group said. As a result, the company added, the loan funds continue to deliver a strong performance, with minimal default rates.
The investment company's portfolio performance was also described as "resilient", although, the general economic conditions are affecting a small number of the group's weaker assets.
A total of £41m of principal repayments have been received in the quarter and £10m of rolled up interest has been crystallised. New investments totalling £88m were made during the quarter. The group had untapped bank facilities of £449m as at the end of June.
JH
Thursday broker round-up UPDATE
Amara Mining: Numis lowers target price from 80p to 70p, while keeping a buy recommendation.[Yesterday 08:35]
London close: Bernanke's dovish tone sparks surge late on
After a relatively subdued start on the FTSE 100, stocks surged in afternoon trade as comments from the Chairman of the Federal Reserve pushed the index to fresh 13-year highs.[Wed 17:12]
London midday: Stocks pull back as UK retail sales drop
Disappointing retail sales in the UK saw markets pull back from a 13-year highs on Wednesday morning while traders kept a close eye on central banks around the world.[Wed 12:02]
London open: Stocks dip as focus turns to central banks
Markets pulled back from new 13-year highs on Wednesday morning as traders turned cautious ahead of statements from central banks in the UK and US.[Wed 08:38]
London pre-open: FTSE to edge lower after hitting 13-year highs
City sources predict the FTSE 100 will open down 11 points from yesterday's close of 6,804, after it yesterday smashed through the 6,800 mark, just 130 points short of its all-time high, not seen since 1999.[Wed 07:36]
Intermediate Capital sees record AuM but profits drop
FTSE 250-listed asset manager Intermediate Capital, otherwise known as ICG, has unveiled record assets under management (AuM) for 2012/13 but profits dropped sharply as the company didn't exit as many investments during the year.[Wed 07:12]
Thursday broker round-up UPDATE
Aviva: Bank of America cuts target price from 350p to 335p, while its neutral rating remains unchanged.[4 Apr '13]
Burberry director cuts stake with 400k-pound share sale
A round-up of the biggest director buys today so far.[23 Jan '13]
