Investcorp profits record 17% drop

Arrow_downBahrain-based asset manager Investcorp recorded a 17% drop in profit for the second half of 2019 despite a rise in assets under management (AuM). In the six months up to December 31, net profit reached $47.6 million – down from $58.2 million in the corresponding period in 2018. Total comprehensive income also declined by 18% to $46 million, while Investcorp’s earnings per share dropped 12% to $0.65. However, Investcorp’s AuM rose by $3 billion during the second half of 2019 to $31.1 billion while fee income of $172 million represented a 15% year on year increase, driven by a surge in asset management fees, according to an Investcorp statement. “[The] results reinforce our confidence in Investcorp’s organic and inorganic growth strategy,” said Mohammed Alardhi, executive chairman of Investcorp. “The increase in AuM during the period was largely attributable to organic initiatives, demonstrating strong global demand for our offerings with investors seeking increased exposure to alternative assets.” Despite the geopolitical headwinds in 2019, Investcorp upped its investment from the previous year – from $1.2 billion to $1.9 billion. The manager also increased the globalisation of its distribution platform, said Alardhi, with fundraising outside of the region accounting for $1.6 billion of the total fundraising figure of $2.6 billion. © 2020 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.


Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.