Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Fund manger Intermediate Capital upgraded fundraising guidance after reporting a record rise in annual profit following an rise in asset management thanks to strong fundraising activity.
For the year ended 31 March, pre-tax profit rose 10% to £202.3 million year-on-year and third party fee income was up 20% to £333.7 million.
Third-part assets under management rose 19% to $56.1 billion as the company raised $10.6 billion, its third largest year on record.
Total dividend was raised by 10% at 56.0p per share.
Looking ahead, the company upgraded its fundraising guidance to $40 billion in aggregate in the four years to the end of FY25 and at least $7 billion every year.
'We have delivered record profits and have continued to invest in our platform,' the company said.