London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good strategy, TheLoaf. I sold half of mine at 400p on the rise, and the rest at the same price on the fall back having bought in sub-325 and picked up the final year dividend on the way. Will look at anything sub-325, but certainly intend to be back in again for the final year the dividend. Good luck
Maybe I spoke too soon. Surprising announcement yesterday. Could result in a big outflow of funds for any loyal clients. 400p looking a decent price now. Broker updates/targets following the news announcement will be interesting as well as any comments from the company between now and the results. gla
Pleasantly surprised at this sustained rise. Sold half my holding at just over 400p to put elsewhere thinking it would not go much higher in the short term. It will be interesting to see the half year results at the end of July. Will maintain current position while the decent dividends continue and maybe dip back in if there is a drop (but only below the 350 level).
In response to the previous post, I think the Woodford situation will have limited impact as (imo) a large proportion of his investors will have been PI's and high net worth individuals based on his past reputation and II's investing based on his past good relationships. Jupiter has no private client business, so little scope there and I am not sure there is much overlap with Woodford's more 'niche' funds to gain many (if any) II's. New mandates take time to win also, so any benefit may not be seen in the AUM until the end of year. Interesting to see though. gla
I've noticed the percentage short has come down from over 10% in May to around 6-7% now. I also wonder how much the Woodford fallout is impacting Jupiter? We we able to hoover up a few of his ex-clients? We'll find out on 30th July I suppose. ATB
The CEO just bought half a million quids worth just before the close of the 2 month window before interim results announcement.
Here's his BIO courtesy of Simplywallstreet
Mr. Andrew James Formica has been Chief Executive Officer and Director of Jupiter Fund Management plc since March 1, 2019. Mr. Formica has serves as a Director of The Investment Association and was its Deputy Chairman until September 2018. He served as Advisor of Janus Henderson Group plc since July 31, 2018 until December 31, 2018. Mr. Formica served as Co-Chief Executive Officer and Executive Director of Janus Henderson Group plc since May 2017 until July 31, 2017. Mr. Formica was Chief Executive of Henderson Group from November 2008 to May 2017. Mr. Formica serves as the Chief Executive Officer, Managing Director, and Director at Henderson Global Investors Limited. He was a Non-Executive Director of Hammerson plc since November 26, 2015 until April 2019. He has been with Henderson since 1998 and in the fund management industry since 1993. He has held various senior roles with it. He served as Joint Managing Director of the Listed Assets business from September 2006 and as Head of Equities from September 2004. In the early part of his career, he was an Equity Manager and Analyst for Henderson. He was a director of TIAA Henderson Real Estate Limited from April 2014 to July 2015. He received a Master’s Degree in Economics from Macquarie University in 1993 and an MBA from London Business School in 2001."
ThanksTom. I threw most of the cash at BT and also topped up my holding with Legal & General. Royal Mail At 193 yesterday seemed a silly price despite their troubles. If they go there again pre divi then I would take a small punt.
All the best Skeletor, I'm holding as based on my re-based cost price I'm getting almost 9% dividend yield here. Even if management decide to give it a trim it should still look quite healthy. Agree RE markets... Imperial Brands caught my attention sitting on a 10% dividend yield in plain sight...
I'm out. Think yesterdays drop across the market has revealed better value options than this. the increase in the market was what saved the AUM figure in the last update so if the market is lower for the next update I fear an even greater loss to AUM. I will put on watch list and if this goes anywhere near 330 again then I will try to get back in. GLA
Note to holders - Last time I exited this there was nearly a 10% rise over 2 days so may be worth holding until at least mid next week :)
Never a good sign when one of the top fund managers leaves & JUP had risen from under 300p to near 400p ! I bought in below 300p & it is still paying a decent yield at this price - But ! Not good when shorters are gathering :(
I was checking Shorttracker for a different share (GFRD sob) but leaping off the page in top 10 was JUP!! Most of the increase in short activity was early to mid Feb but they haven’t closed out so are taking quite a bit of pain right now. I wonder what the strategy is? Directors are buying too so I would be nervous unless of course they know something we don’t.... Any opinions on this?
Plenty of upside in the SP as well as a good dividend. Have made decent returns here over the years, both through investing for growth and in the short term to take the dividends. Not sure about the new CEO, will be interesting to see what he has to say.
That was an expensive maneuver as I missed the 30p rise but think we may see slight improvement in AUM in the next update and I don't see the EPS dropping too much more. If they continue to pay out 90% which they can as they are debt free and don't need to massively invest in infrastructure then this just becomes a great savings rate. ATB
The CEO change may have been due to recent performance, but he has been there a while. The CFO looks to be going to a FTSE 100 firm as a step up. The SP was over 600p a little over 14 months ago and lots of net outflows for the past couple of years..
Seemingly more hires for specific areas within Fund Management in recent years (lots of new funds launched in the past couple of years) and more diversification in their investment set-up. Less time being given to poor performing FM's, a more ruthless approach perhaps in the search for better performance and trying to increase their AUM?
Just to clarify an earlier comment, 28.5p is the full year dividend pay out. The year end figure is 9.2p as a final dividend plus a special dividend of 11.4p, so a total final year amount of 20.6p
Still a good return imo, albeit down on last year.
A decent number of the Fund Management team have left over the course of the past year and with the CEO and CFO also both leaving in quick succession, it will be interesting to see what the future holds here (SP circa 500p a year ago).
Given the short interest and sentiment towards asset managers I think a lot of people hedged these results. Looks like a few buying back in now and causing a small pop in price. I decided to hold through results but definitely considered selling on more than one occasion. Happy to take the 28.5p dividend and hope that AUM can be built back up over time. ATB
Could have been worse I suppose. Still a great dividend but no clear forward strategy on how they intend to increase AUM although the increasing market since 31st December should have helped. Given it is 2 months into the new fy it would have been good to get a view on how the last 2 months have been. I don’t expect any more than a 5% swing (not sure which way) but if this plummets close to 300 I will be back in. GLA