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
Independence & Integrity
ICM is run as an independent investment firm committed to intellectual consistency and best practices, whilst focused on achieving superior results.
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.
Creativity & Innovation
ICM champions innovative thinking to continually challenge, generate solutions and create value in our investments.
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 |
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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 |
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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 |
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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 |
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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 |
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Title | Somers Annual Report |
Link | visit |
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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