i have heard mutterings that these chaps are doing as well as we would think. anyone else have any thoughts.
6 Feb '13
Three of the group's four key business areas - Retail, Investment Trusts and Third-Party Institutional - are Bramson's focus going forward so their strong first-half performance is encouraging. The former two are well-positioned to benefit in a world post the Retail Distribution Review due to their strong experience in the direct-to-consumer funds market and are central to stage two of Bramson's strategic overhaul. The fourth key business area, Strategic Partners, runs Friends Life funds where F & C's last contract expires in October 2014. It is the continued outflow of Strategic Partners funds which explains the overall fall in group AUM but this is low-margin business and the cost cutting should more than compensate for the losses going forward, as it did in the first half of 2012...................
6 Feb '13
Buy F & C Asset Management (FCAM) in anticipation of earnings upgrades this year as the market fully factors in chairman Edward Bramson's cost-cutting measures. Broker Jefferies is forecasting earnings per share (EPS) of 11.4p in 2013, a full 15% ahead of the market consensus for 9.9p, such is the disagreement between analysts as to the level of savings that can be achieved. Bramson began his campaign to overhaul F & C after he first built a stake in the business in summer 2010. The following year he ousted the former chairman and launched stage one of a strategic review. The interims (1 August 2012) were the first tangible evidence of Bramson's impact. Cost reductions unveiled at the review drove an 11% increase in underlying EPS, despite a 9% fall in assets under management (AUM) which finished 30 June at £98.2 billion versus £108 billion in 2011.
21 Dec '12
Filling their boots
Have noticed Director/ s filling their boots of late. Appears belts are being tightened and perhaps they know something not yet brought to Investors ears. Gone from Hold to Buy with a median target of 120p. Seems dividends remain flat and rank below the industry average. Debt to total capital ratio of circa 33% lower than previous years. Over the year and 6 months F&C has beaten GB Capital Markets. There are ten directors to feed too. Be interesting to see if something comes out of blue.
20 Dec '12
F&C Asset Management (FCAM) Director name: Mr Edward Bramson Amount purchased: 25,000 @ 101.73p Value: £25,432
17 Dec '12
F&C Asset Management (FCAM) Director name: Mr Edward Bramson Amount purchased: 20,945 @ 99.11p Value: £20,759
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