Our history

Our origins date back to 1988, and since 2010 we have been operating under the ICM brand. ICM has a long history of direct investment in Bermuda through ICM managed and advised funds. ICM has been a significant contributor to the construction of the Bermuda Hospital, and in 2024 ICM renewed its sponsorship of the Bermuda Olympic Association for another four years. ICM's continued financial support will be beneficial in ensuring the Bermuda Olympic Association continues to make a difference in Bermuda, particularly by using sport to empower young children to fulfil their education and sporting dreams.

ICM has evolved to become a global organisation, and is an international Fund Manager and Corporate Finance Adviser headquartered and licenced in Bermuda as an exempted company, pursuant to the provision of Section 129A of the Bermuda Companies Act 1981.Registered in Bermuda under the Investment Bank Act 2003 to carry on investment business.

Whilst ICM is entrepreneurial in nature, we uphold traditional values where the depth and longevity of our relationships are built by repeatedly delivering on our word, challenging constructively and acting respectfully. This informs our own culture, shaped by a global team of specialist investors and sector analysts, each revered in their field and given the freedom to find compelling investment opportunities. We maintain a balance of independence, insight sharing and a supportive collegiate environment which helps build conviction and ensure informed, robust outcomes.

ICM combines the established values and independence of a family office, the measured critique and high engagement of a private equity house, and the patient vision and loyal support of a founding investor. Alongside these qualities, we are increasingly recognised for finding right sized opportunities in specialist sectors where we can have a meaningful role as investors.

Today, the ICM Group extends to more than 10 locations globally with over 30 specialist ICM staff members and 80 staff. ICM is currently managing approximately US$1.1 billion in funds directly, with over US$9.7 billion of assets held indirectly through subsidiary investments. To find out more, click here for an overview of the ICM Group

Our Values                                                                                                                                                                 

Building business with integrity                            PRI Sig White.png

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Independence & Integrity

ICM is run as an independent investment firm committed to intellectual consistency and best practices, whilst focused on achieving superior results.

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Excellence

ICM looks to establish a challenging and rewarding environment for its employees, and to deliver excellence in its service to clients. We seek out value and reward hard work, innovation, and performance.

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Creativity & Innovation

ICM champions innovative thinking to continually challenge, generate solutions and create value in our investments.

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Accountability

ICM works in accordance with our values, holding all accountable to accept personal responsibility to act conscientiously and considerately to colleagues, clients, the companies with whom we work, and to the local and global communities.

Our philosophy

Focused on long term growth 

ICM is an investment group built on a philosophy of value creation, vision and innovation. Its mission is to achieve long-term total returns for its clients. ICM's focused investment processes identify both value and growth opportunities which are not reflected in the market price, and it sees value in the intersection of evaluating traditional financial measures alongside sustainability measures. ICM's deep and extensive understanding of the companies, sectors and markets in which it invests in moderates its risk and amplifies returns. 

Sustainable investing means incorporating ESG factors to assess companies and assets alongside with more traditional financial factors. ICM Limited is a signatory to the UN-supported Principles of Responsible Investment (“PRI”), which encompasses a voluntary set of six principles to incorporate ESG into investment practice. Find out more about ICM's Responsible Investment approach.

ICM has investments and portfolio companies ranging from fixed income bonds, listed and private equity, and property, across sectors including utilities and infrastructure, digital assets, technology, financial services, fixed income, mobility, and resources.

ICM continually looks for compelling investment opportunities, and it thrives on market imperfections based on years of experience in investments and investment processes. ICM values its experienced management teams and encourages well researched, fact based investments. Its staff are professional and dedicated, and maintain strong disciplines and integrity. ICM has a long term fundamental approach, with deep sector expertise and local relationships. It seeks to work with investee companies to enable them to grow and develop their businesses, and create value for all investors.

News archive 

Learn more about ICM

Date 09 Dec 2024
Title Utilico Emerging Markets Trust featured in Financial Times article: "Are ‘hero’ trusts the answer for income-seeking investors?"
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Date 05 Dec 2024
Title Resimac Group Ltd announces new Chief Executive Officer
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Date 02 Dec 2024
Title Utilico Emerging Markest Trust featured in Investors' Chronicle article: "The case for adding emerging markets to your portfolio"
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Date 26 Nov 2024
Title Utilico Emerging Markets Trust published its Half Yearly Financial Report to 30 September 2024
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Date 18 Nov 2024
Title Utilico Emerging Markets Trust featured in Investors' Chronicle article "Why the tide is turning for beloved investment trusts"
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Date 17 Oct 2024
Title UIL Limited: Completion of Compulsory Acquisition of Zeta Resources Limited Shares
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Date 11 Oct 2024
Title UIL Limited announces Redemption of 2024 ZDP Shares
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Date 11 Oct 2024
Title UIL Limited Announces Acquisition of shares in Zeta Resources Limited
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Date 09 Oct 2024
Title UIL Limited published its Annual Financial Report for the year ended 30 June, 2024
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Date 08 Oct 2024
Title Zeta Resources Limited - Portfolio update
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Date 30 Sep 2024
Title Zeta Resources published its 2024 Year End Financial Report
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Date 26 Sep 2024
Title Diraq drives global control techniques to new heights
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Date 03 Sep 2024
Title Utilico Emerging Markets Trust announces new bank facility
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Date 29 Aug 2024
Title Zeta Resources published its Preliminary Final Report for the year ended 30 June, 2024
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Date 26 Aug 2024
Title Diraq drives two-qubit gate accuracy in CMOS to above 99%
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Date 17 Jul 2024
Title Zeta Resources: Notice From Major Shareholders Regarding Compulsory Acquisition of Shares
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Date 24 Jun 2024
Title Mail on Sunday article featuring Utilico Emerging Markets Trust: "Eight bargain investment trusts that could bring YOU returns of up to 90% over five years"
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Date 19 Jun 2024
Title Utilico Emerging Markets Trust: MoneyWeek article "Building the bridges and roads to riches"
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Date 19 Jun 2024
Title Forbes article featuring Diraq: "‘Record demonstration’: Dark horse in quantum race passes new milestone"
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Date 19 Jun 2024
Title MoneyWeek article featuring Utilico Emerging Markets Trust: "Building the bridges and roads to riches"
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Date 19 Jun 2024
Title Utilico Emerging Markets Trust: 2024 Full Financial Year Report
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Date 11 Jun 2024
Title Edison Group report featuring Utilico Emerging Markets Trust: "Emerging markets – Worthy of consideration"
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Date 03 Jun 2024
Title This is Money article featuring Utilico Emerging Markets Trust: "Building a better future - thanks to an exports bonanza in Brazil"
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Date 28 May 2024
Title Killik & Co podcast featuring Charles Jillings: "Investor Insights Podcast – Charles Jillings, Portfolio Manager Utilico Emerging Markets Trust"
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Date 22 May 2024
Title Citywire Rated Investment Trust Fund Managers: Utilico Emerging Market's Charles Jillings included in Portfolio Manager Ratings of London-listed investment trusts & investment companies.
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Date 05 Mar 2024
Title Somers Limited: Waverton Investment Management and London & Capital Group Announce Merger
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Date 05 Mar 2024
Title QuotedData interview with Utilico Emerging Markets' Portfolio Manager Charles Jillings
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Date 23 Feb 2024
Title Zeta Resources published its 2024 Half Year Financial Report
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Date 22 Feb 2024
Title UIL Limited published its 2024 Half Yearly Financial Report
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Date 15 Feb 2024
Title Utilico Emerging Markets Trust:Portfolio Adviser article featuring Fund Manager Charles Jillings: "Diverging performance: What is driving emerging market returns in 2024?"
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Date 15 Feb 2024
Title Somers Limited published its 2023 Annual Report
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Date 13 Feb 2024
Title UIL Limited's investee Diraq announced the successful completion of a Series A-2 capital raise of USD $15 million
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Date 13 Jan 2024
Title Utilico Emerging Markets Trust: AIC article featuring Fund Manager Charles Jillings: "Under-owned, underestimated and undervalued": but could 2024 be the year emerging markets come good?
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Date 04 Jan 2024
Title AIC article featuring Utilico Emerging Markets Trust: "Under-owned, underestimated and undervalued": but could 2024 be the year emerging markets come good?
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Date 18 Dec 2023
Title Fund Manager Charles Jillings interviewed by FocusIR, discussing why Utilico Emerging Markets Trust is poised for growth in 2024
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Date 18 Dec 2023
Title Somers Limited Full Year Results Annoucement
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Date 22 Nov 2023
Title Utilico Emerging Markets Trust: Half Yearly Financial Report
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Date 19 Oct 2023
Title Interactive Investor article featuring Utilico Emerging Markets: "The future of emerging markets and investment trust tips"
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Date 06 Oct 2023
Title Money Marketing podcast featuring Charles Jillings: "In Conversation With… Charles Jillings, CEO at Utilico"
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Date 25 Sep 2023
Title UIL Limited published its 2023 Report & Accounts
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Date 21 Sep 2023
Title Zeta Resources: 2023 Annual Report
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Date 29 Aug 2023
Title Somers Limited: Submission of binding proposal to acquire Thorn Group Limited
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Date 29 Aug 2023
Title Resimac Group FY23 Investor Presentation
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Date 29 Aug 2023
Title Resimac announces FY23 normalised NPAT of $73.7m
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Date 29 Aug 2023
Title Zeta Resources: Preliminary Final Report for the year ended 30 June, 2023
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Date 26 Jul 2023
Title MoneyWeek article featuring Utilico Emerging Markets in their "5 emerging market investment trusts to buy"
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Date 20 Jul 2023
Title FocusIR interview with Charles Jillings discussing investing in emerging market megatrends of infrastructure and utilities
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Date 29 Jun 2023
Title Somers Limited Half Year Financial Results Announcement
Document 0.1MB
Date 19 Jun 2023
Title Utilico Emerging Markets Trust: 2023 Report & Accounts
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Date 03 Jun 2023
Title Interactive Investor interview with Charles Jillings: "Why these three areas are long-term winners"
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Date 30 May 2023
Title Interactive Investor interview with Charles Jillings - "Growth and 4% income from overlooked emerging market stocks"
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Date 22 May 2023
Title Zeta Resources: Trading Update
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Date 27 Apr 2023
Title Somers Limited 2022 Annual Report
Document 2.7MB
Date 28 Feb 2023
Title Zeta resources: Half-Year Financial Report for the six months ended 31 December 2022
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Date 27 Feb 2023
Title Resimac Group announces 1H23 normalised NPAT of $40.7 million
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Date 27 Feb 2023
Title UIL Limited 2023 Interim Report
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Date 06 Feb 2023
Title Allectus Capital Limited 2022 Annual Report
Document 2.6MB
Date 27 Jan 2023
Title Utilico Emerging markets: Investor Meet Presentation
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Date 23 Nov 2022
Title ICM Foundation: Harlequins receives Silver Award for Sports Diversity and Inclusion
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Date 23 Nov 2022
Title Utilico Emerging Markets: 2023 Half Year Report
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Date 23 Sep 2022
Title Zeta Resources 2022 Annual Report
Document 5.4MB
Date 23 Sep 2022
Title UIL Limited 2022 Report & Accounts
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Date 18 Aug 2022
Title Edison issues review on Utilico Emerging Markets Trust
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Date 12 Aug 2022
Title UEM Investor Presentation with Investor Meet
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Date 01 Aug 2022
Title Somers Limited Announces Warrant and Dividend Issue
Document 0.1MB
Date 08 Jul 2022
Title Somers Limited announces receipt of take private offer by majority shareholders
Document 0.1MB
Date 20 May 2022
Title Somers Limited Q2 2022 Financial Results
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Date 09 Mar 2022
Title Utilico Emerging Markets: CEO Charles Jillings discusses whether China really an emerging market - interview by Richard Hunter
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Date 09 Mar 2022
Title UIL Limited: Half Yearly Report for the six months ended 31 December 2021
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Date 09 Mar 2022
Title Zeta Resources: Half Year Report for the six months ended 31 December 2021 shows net assets of US$232.4m, up 5.5%
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Date 19 Jan 2022
Title ICM Foundation: Nik Kafka, CEO Teach a man to fish recipient of Charles Bronfman Prize
Document 0.3MB
Date 19 Jan 2022
Title Somers Limited 2021 Annual Report announced a record year with profit of $197.8 million
Document 4.0MB
Date 20 Oct 2021
Title Resimac Group 2021 Annual Report shows a 92.5% increase in Profit After Tax of $107.8m
Date 24 Sep 2021
Title UIL Limited: 2021 Full Year Financial Report recording a Net Asset Value increase of 47.4% on the previous period
Document 8.6MB
Date 24 Sep 2021
Title Zeta Resources 2021 Annual Report shows record profit of $114.7m
Document 5.7MB
Date 26 Aug 2021
Title Zeta Resources Limited: Preliminary Final Report shows Net Profit of $114.7m, up 612%
Document 0.4MB
Date 18 Aug 2021
Title Somers Limited: Q3 Financial Results show record net income of $262.7m
Document 0.7MB
Date 23 Jul 2021
Title UIL Limited: Investment in Novareum Blockchain Asset Fund
Document 0.1MB
Date 22 Jul 2021
Title Somers Limited: Sale of Bermuda Commercial Bank Limited
Document 0.2MB
Date 22 Jun 2021
Title Utilico Emerging Markets Trust: 2021 Full Year Financial Report records a NAV total return per share of 30.2%
Document 5.7MB
Date 11 Jun 2021
Title Teach A Man To Fish: School Enterprise Challenge 2020 Report
Document 1.6MB
Date 04 Jun 2021
Title ICM mobility group announces acquisition of unwire
Document 0.1MB
Date 21 May 2021
Title Somers Limited reports record net income of US$203.1m for the first half of the year
Document 0.1MB
Date 11 May 2021
Title ICM becomes a signatory to the United Nations Principles for Responsible Investment
Document 0.1MB
Date 07 May 2021
Title Resimac Group settles non-bank A$1.0 billion RMBS deal
Document 0.8MB
Date 26 Feb 2021
Title Zeta Resources Half Year Results show net assets of $106.5m, up 106%
Document 0.3MB
Date 25 Feb 2021
Title Resimac Group Half Year 2021 results show an 88% increase in Net Profit After Tax of $50.5m
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Date 22 Feb 2021
Title UIL Half Yearly Report shows NAV Total Return of 22.0%
Document 0.3MB
Date 16 Feb 2021
Title Somers Q1 Financial Results show record US$190m profit
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Date 21 Jan 2021
Title Resimac Group exercises call option with IA Group
Document 0.1MB
Date 18 Jan 2021
Title Somers NAV Announcement
Document 0.2MB
Date 31 Dec 2020
Title Somers Annual Report
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Date 15 Dec 2020
Title Somers Limited: Q4 2020 Financial Results
Document 0.2MB
Date 01 Dec 2020
Title Utilico Emerging Markets Trust: Morningstar Article UEM reports net asset value per share up 10% on prior year
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Date 27 Nov 2020
Title Utilico Emerging Markets Trust: Interactive Investor article on 2020 Half Year results announcement
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Date 27 Nov 2020
Title Utilico Emerging Markets Trust: Half-Yearly Financial Report for the six months to 30 September 2020
Document 7.7MB
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Date 26 Nov 2020
Title Zeta Resources: Chairman's Address to AGM
Document 0.1MB
Date 20 Nov 2020
Title Somers Limited: Sale of Bermuda Commercial Bank
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Date 28 Oct 2020
Title UIL Limited: 2020 Annual Financial Report
Document 10.2MB
Date 01 Oct 2020
Title Zeta Resources: 2020 Annual Report
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Date 10 Sep 2020
Title Zeta Resources: Bonus Issue of Options
Document 0.1MB
Date 01 Sep 2020
Title Somers Limited Q3 2020 Financial Results
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Date 27 Aug 2020
Title Resimac: 2020 Results Presentation
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Date 27 Aug 2020
Title Zeta Resources: Preliminary Final Report
Document 0.4MB
Date 26 Jun 2020
Title Waverton Investment Management wins Money Observer Fund Awards 2020: Sterling Bonds winner
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Date 20 Jun 2020
Title Utilico Emerging Markets Trust: 2020 Full Year Financial Report
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Date 24 Feb 2020
Title Somers Limited: Update on Sale of Bermuda Commercial Bank
Document 0.2MB
Date 24 Jan 2020
Title UIL Limited: WEX signs agreement to acquire Optal
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Visit individual ICM Group company websites by clicking the logo below:

UIL Limited Logo
UEMT Logo
Somers Limited logo
Zeta Resources Logo
Allectus Capital logo
Pentagon High Conviction Bond Fund Limited