Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Singer Capital reiterated its "buy" recommendation for Schroders (SDR), but with a reduced target price of 1,550p, from 1,780p. With equity markets having fallen between 14% and 20% during the quarter, the broker calculates that the company's assets under management have been reduced by around 21 billion pounds, from 204.8 billion pounds at the end of June. With markets remaining volatile, Singer expects Schroders to continue to report net outflows in the short term, but believes that the business remains strong in the long term. The shares lost 15p to 1,355p.
RBS also downgrades asset manager Schroders, to “hold” from “buy”, while slashing its target price on the stock to 1,250p from 1,970p. It notes that, while Schroders offers compelling long-term value, share price performance is a more important concern in the current environment of equity falls. “In that context, we see exposure to stable fund flow markets, fixed-interest assets and cost flexibility as being drivers of relative outperformance; we see high exposure to equities, volatile fund flow markets and cost inflexibility as drivers of relative underperformance,” RBS says.
Deutsche Bank downgrades Schroders from buy to sell, target price raised from 1477p to 1900p
Morgan Stanley downgrades Schroders from equal weight to underweight, target price cut from 1798p to 1570p.
Singer Capital Markets has upgraded its rating on global asset management firm Schroders from fair value to buy, saying that the recent sell-off has “presented an opportunity to invest in a strong business for those with long enough time horizons.” However, while the group’s interim results were in line, the broker said that in the face of current market declines, marking to market estimates results in a 3% and 7% reduction to 2011 and 2012 earnings per share forecasts, respectively. The target price is lowered from 1,900p to 1,780p.
Singer Capital Markets upgrades Schroders from fair value to buy, target price cut from 1900p to 1780p.
It appears institutional investors are willing to trust Schroders to look after their money in turbulent times. The blue-chip and blue-blooded fund manager yesterday reported a rise in assets under management to £204.8bn, which was ahead of most analysts' forecasts and was helped by net new business of £5bn. All the same, the company is still reporting healthy earnings – they rose to £215.7m from £188.2m a year earlier. In what we take as a good sign, this supported an 18 per cent increase in the interim dividend to 13 pence. This was a creditable set of results from Schroders, but we think there are better opportunities in the fund-management sector (for example Aberdeen, or Jupiter). As a result, we'd avoid these shares, suggests the Independent.
Outlook As long as markets are held back by a range of macro economic concerns, Intermediary demand and opportunities in Private Banking are likely to remain muted, but we are well positioned for a recovery with strong investment performance and a broad product range. We continue to see good prospects for growth in Institutional.
Half-year results to 30 June 2011 (unaudited) __________________________________________________________________________________ · Profit before tax £215.7 million (H1 2010: £188.2 million) · Earnings per share 60.7 pence per share (H1 2010: 49.4 pence per share) · Interim dividend 13.0 pence per share (interim dividend 2010: 11.0 pence per share) · Net new business £5.1 billion · Assets under management £204.8 billion
http://www.investegate.co.uk/Article.aspx?id=201108040700217170L
Arbuthnot initiates buy on Schroders, target price 1718p
RBS reiterates buy Schroders Group, target price cut from 1960p to 1854p.
Institutional demand strong, says Schroders Date: Thursday 05 May 2011 LONDON (ShareCast) - Asset management firm Schroders saw funds under management (FUM) rise through the £200bn barrier in the first quarter of 2011. Total FUM rose to £201.4bn at the end of March from £196.7bn at the end of 2010. Net inflows totalled £3.0bn, all but £0.2bn of which came from institutional clients. The group's profit before tax in the first quarter rose to £103.8m from £93.2m in the first quarter of 2010. The Asset Management division contributed the bulk of the profits, with the unit's profit before tax rising to £97.3m from £88.9m. Private Banking's pre-tax profit rose to £6.7m from £1.3m the year before, while the Group segment tipped into the red, reflecting lower returns on investment capital. The segment lost £0.2m, after making £3.0m a year earlier. Group net revenue rose to £292.0m from £275.5m the year before. Asset Management net revenue for the quarter increased to £261.2m from £244.8m a year earlier, including performance fees of £7.8m (Q1 2010: £27.2m). Private Banking net revenue increased to £30.1m from £24.3m in the first quarter of last year. Net inflows of £0.1bn took the division's funds under management to £16.4bn, up from £16.2bn at the end of 2010. “Intermediary flows have slowed, reflecting the impact of market volatility on retail investor demand, although we continue to see good opportunities in Institutional,” the group said. --- jh
5 May 2011 Schroders plc today issues its interim management statement covering the three months to 31 March 2011. · Profit before tax £103.8 million (Q1 2010: £93.2 million) · Net inflows £3.1 billion · Total funds under management £201.4 billion (31 December 2010: £196.7 billion) Asset Management Asset Management net revenue for the quarter increased to £261.2 million (Q1 2010: £244.8 million) including performance fees of £7.8 million (Q1 2010: £27.2 million). Profit before tax was £97.3 million (Q1 2010: £88.9 million). Net inflows totalled £3.0 billion, comprising £2.8 billion in Institutional and £0.2 billion in Intermediary. Funds under management at the end of March were £185.0 billion (31 December 2010: £180.5 billion). Private Banking Private Banking net revenue increased to £30.1 million (Q1 2010: £24.3 million). Profit before tax was £6.7 million (Q1 2010: £1.3 million). Net inflows of £0.1 billion took funds under management to £16.4 billion (31 December 2010: £16.2 billion). Group segment The loss before tax in the Group segment was £0.2 million (Q1 2010 profit: £3.0 million) reflecting lower returns on investment capital. Total equity increased to £1.84 billion (31 December 2010: £1.80 billion). Outlook Intermediary flows have slowed, reflecting the impact of market volatility on retail investor demand, although we continue to see good opportunities in Institutional. Michael Dobson, Chief Executive, and Kevin Parry, Chief Financial Officer, will host a conference call for the investment community, to discuss the first quarter interim management statement at 9am BST on Thursday, 5 May 2011.
http://www.investegate.co.uk/Article.aspx?id=201105050700099694F
http://www.investegate.co.uk/Article.aspx?id=201103250700066070D
Evolution Securities upgraded its recommendation for Schroders (SDR) from "neutral" to "buy" with an increased target price of 1,925p. The broker believes the group has set the standard amongst the conventional asset managers in developing an appealing range of investment products and building a distribution platform that has global reach. While it is unlikely that Schroders will be able to deliver a level of net inflows in 2011 equal to the 27.1 billion pounds reported in 2010, with the investment platform in a stable operating state, Evolution thinks the business will continue to deliver funds under management, revenue and earnings growth. The shares increased 13p to 1,757p.
Evolution Securities retained its "neutral" recommendation for Schroders (SDR), the asset management company, with a 1,860p target price. Ahead of full-year results this Thursday, the broker revealed that it expects the group to report a pre-tax profit at a level similar to the peak levels of 2007 as the "very strong" inflows since the second quarter of 2009 flow through to revenues and earnings. That said, Evolution forecasts net inflows of 28.1 billion pounds for financial year 2010, which, it said, should underpin further strong earnings growth in financial year 2011. Schroders shares were untouched at 1,794p.
look
any body here
ticks up