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Well not a great quarter but a hold/buy at this sort of price imo....recovery share and could move up quickly when rates do start to fall...
Will be interesting to see if there is any improvement in AuM on Monday, the SP has drifted lower and looks interesting again, any signs of positive in flows and the shares will respond nicely, gl holders..
A good day for once…clearly the forward looking statements are driving this…..
Blooomberg was saying that the interest cuts coming may lead to some dollar weakness which is historically positive for EMs.
Up and away today
Currently around 3.5% of AUM……Jupiter has a similar sized book and is valued at 1.25%
Margin difference accounts for some of the above….but does this indicate ASHM is overvalued and Jup undervalued?
Outflows still happening…..-3% of AUM in the quarter the positive market performance means a net increase of 4% across the quarter.
Some continued volatility ahead until the client flows turn positive….in the meantime what will clients do….will they bank the gains in the last quarter or commit more money to chase the markets higher…..
With events with global repercussions still playing out in the Red Sea, China Taiwan tensions and s swathe of elections in major western democracies this year there may be no safe havens.
Net outflows for the three months ended Dec. 31 came in at $1.6 billion, lower than the previous quarter. Assets under management rose to $54 billion from $51.7 billion at the end of September, it said.
Q1 had -8% AUM 30% was investment performance and 70% outflows (2.9bn USD).
It will be interesting to see what these numbers look like given the rally in Nov/Dec in markets…and the outlook for interest rates has changed to some reductions later this year…..hopefully the outflows are reducing and performance was stronger….although the best we can probably hope for is a flat AUM.
POLR finally breaking out now....10% divi and PE of 9....looks very under valued and a AuM update due on the 12th Jan, ripe for a re rate...;-)
US 10 year bond yields showing signs of finally falling this week....Great news for ASHM holders ;-)
XD today
Goes ex div in 2 days, 12.1p dividend, paid in December. Happy to hold these from these levels, well oversold, expect a decent rebound, gl
Denfos- possibly heading to 150….the AUM update is another 8% loss, the majority of which is outflows rather than market related…..until that corner is turned I dont see much upside…..there will be a point at which the dominant shareholder wants to protect their net worth by selling…..maybe that will come sooner than later but it will be a fire sale and not much of a premium if any.
BlackRock activity, Evergrande debacle, emerging markets bearish sentiment, continuing outflows of many billions of dollars, negative Broker Forecasts, elevated premium to peer group companies are all conspiring to drag this share down. Not a buy until 150p I’m afraid.
No where near as bad at the bottom line as the FUM would lead one to expect.
Can it make a recovery in 23/24?
Must admit, I bought in the China reopening bounce so now 25% down…..we will have to search the accounts for reference to what they have done re Evergrande debt they hold…..Evergrande equity is a wild ride at present, but it may survive in which case the debt will also recover somewhat.
Nothing has changed since the Evergrande debt scandal, and ASHM is still heavily exposed to that Chinese basket case. They've kept very quiet about this issue throughout, which remains a Damocles sword hanging over ASHM. Investors are well up to speed about this and they will stay away. This problem isn't going to disappear
It looks like a slow death in store for ASHM. Meanwhile the div cuts will come as they should have done well over a year ago.
Mixed bag…..improving performance in the quarter but outflows continue to be stronger.
You might think that better performance would change the flows eventually.
Cites expected change in fortunes for emerging markets and a change in the flow of funds (and fees) to ASHM.
Todays update shows that investment performance has turned a corner and such movements will usually result in better asset allocations by clients which will turn client cash-flows around.
While the shares have gained 30% from recent lows, there is more to come when net client cash flow turns positive……..now a much safer business to hold.
Decided to sell at a loss, thankfully not too hefty. It would have been easy to panic out of this a lot earlier on. So quite pleased to sell at this price (240) It certainly doesn't look like an Xmas rally, and if market weakness continues into the new year then this could fall back 10% or more as it's already shown.
Good luck to those who persist with ASHM.
Bit of joy dividends paid today , hold tight for the pending recession then .....atb
Ups its price to 200 but goes to sell. Mixed messages indeed.
Type Ex-div date Payment date Amount
Final * 03/11/2022 09/12/2022 12.10p