Intermediate Capital’s own investments swung from losses last year of £72.3 million to profits of £305.4 millionThe dramatic recovery in financial markets since the March 2020 sell-off and a surge in new client wins helped Intermediate Capital to increase its annual profit to more than half a billion pounds. The FTSE 100 alternative fund manager’s own investments swung from losses last time of £72.3 million to a profit of £305.4 million, while its division managing money for third parties pulled in $10.6 billion of new business. SponsoredShares in the company closed up 127p, or 5.8 per cent, at £22.83 after it reported group profit before tax of £507.7 million for the year to March 31, up from £110.8 million in the previous year. ICG upgraded its guidance for future client wins, saying that it expected to garner $40 billion in aggregate

Source: The Times June 08, 2021 11:01 UTC