Intermediate Capital Group Rejoins FTSE 100 Index

London, November 17, 2023 — Intermediate Capital Group (ICG) is set to make a comeback to the blue-chip FTSE 100 index, according to FTSE Russell's quarterly reshuffle announcement. This reinstatement follows ICG's one-year absence from the index, after it last exited in December 2022. In contrast, Hargreaves Lansdown will be replaced by ICG in the prestigious index.

ICG, a London-listed asset manager, has experienced a remarkable 36% surge in its share price since the beginning of this year. Its exceptional financial performance was evidenced by market-beating earnings, primarily driven by increased investment gains.

Hargreaves Lansdown, which has been a member of the FTSE 100 index since March 2011, has struggled this year with its shares declining by 17% year-to-date.

The reshuffling decisions are based on the closing share prices of both companies on Tuesday, ensuring a fair evaluation of their market capitalization.

The FTSE 100 index is an elite group of the 100 most highly capitalized companies listed on the London Stock Exchange. In line with the index rules, any company that falls below the rank of 111 is automatically removed from the index, while those that climb to 90 or above are automatically promoted.