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Singer Capital reiterated its "buy" recommendation for Ashmore (ASHM) with a 445p target price. The broker expects the investment management fund to report assets under management to rise by 4.5 billion dollars (2.8 billion pounds) to 64.9 billion dollars (40.9 billion pounds) over the three months ended 31st March, benefiting from a strong investment performance over the period. Singer noted that the shares have underperformed the market since a lackluster interim report in February, but expects the third quarter update to have a positive impact on the price.
Canaccord Genuity has lowered its stance on Ashmore Group (ASHM) from "buy" to "hold" ahead of investment fund's results for the six months to December. Following a 24% increase in its share price over the past two months, the shares have reached the broker's target price of 396p. With Ashmore reporting in January that its interims would be in line with expectations, the broker reckons the shares are now trading at fair value
12/01/12 Emerging markets focused asset manager Ashmore (ASHM) reported assets under management of 60.4 billion dollars (39.4 billion pounds) in its second quarter ended 31st December, up 2.5% on first quarter levels. The group noted net inflows of 0.5 billion dollars (0.33 billion pounds) and a 1 billion dollar (0.65 billion pounds) appreciation in the value of investments. The company added that first half performance fees of around 23 million pounds. Ashmore shares rose 14.9p to 340.8p.
RBS has upgraded its rating on Ashmore to “buy” from “hold” following heavy falls in the fund manager’s share price lately. “We see the recent share price pullback as an excellent opportunity to gain exposure to this high quality business,” RBS says. It points to Ashmore’s “strong funds flow outlook” and its “excellent capital position.” It also notes that, at 18% of funds under management, it has only minimal exposure to equities. RBS lowers its target price on Ashmore to 404p from 415p.
RBS upgrades Ashmore Group from hold to buy, target price cut from 415p to 404p
Revenue for the year ended 30th June 2011 rose 17% to 333.8 million at Ashmore Group (ASHM), while pre-tax profit increase 13% to 245.9 million pounds as the investment manager saw assets under management increased 86% to 65.8 billion dollars (41.67 billion pounds). The emerging markets-focused company has been investors realise the attractiveness of emerging market asset classes over developed market alternatives, and thus the board remains confident of further progress in all time frames
One to watch -Asset manager Ashmore saw assets under management rise to $65.8bn at the end of June from $35.3bn the year before, with the gain comprising net subscriptions of $15.5bn, investment performance of $5.1bn and $9.9bn through the acquisition of EMM. Profit before tax for the year ended 30 June rose 13% from last year to £245.9m.
Investment management group Ashmore (ASHM) kept its "buy" rating from Canaccord Genuity, with a target price of 439p. With performance fees already reported to be in the region of 85 million pounds, the broker expects next week's result to show full year pre-tax profits of 241 million pounds, and a dividend payment of 15p per share. Additionally, Canaccord notes that company's imminent elevation to the FTSE 100 Index on 19th September has given the price a boost. The shares descended 9.7p to 410.3p.
Deutsche Bank downgrades Ashmore Group from buy to hold, target price cut from 460p to 420p
Fourth-quarter figures from Ashmore Group are deceptive because, of the $15.5bn (£9.6bn) increase in funds under management, almost $10bn came from the June purchase of EMM, the emerging markets equities specialist. This was founded by Antoine van Agtmael, the man who coined the phrase “emerging markets”. Ashmore shares sell on about 12.6 times this year’s earnings, a premium to the sector but deserved, with emerging markets back in favour. A strong hold, says the Times.
The final quarter of the financial year ended 30 June 2011 saw Assets under Management ("AUM") increase by US$15.5 billion (31%) to US$65.8 billion, including AUM in the equity theme resulting from the completion of the acquisition of EMM L.L.C. (see note 1). There were net inflows of US$4.6 billion across the themes, particularly within the local currency, currency overlay (within "Other") and external debt themes. Asset realisations in special situations funds, that were completed after the reinvestment periods of those funds, enabled monies to be returned to investors. Positive investment performance contributed a further US$1.0 billion of AUM in the quarter. Performance fees for the year overall are estimated to be £85 million (H1 2010/11 £60.1 million: FY2009/10 £82.9 million) arising principally from strong investment performance for funds with August and April year ends. The Group will announce its results in respect of the financial year to 30 June 2011 on 13 September 2011. There will be a presentation for analysts at 0900 on that date at the offices of Goldman Sachs at Rivercourt, 120 Fleet Street London EC4A 2QQ. A copy of the presentation will be made available on the Group's website at www.ashmoregroup.com.
http://www.investegate.co.uk/Article.aspx?id=201107140700093616K
Citigroup reiterates hold on Ashmore Group, target price raised from 350p to 385p
Fri 3:27 pm by Jamie Ashcroft Citigroup’s Haley Tam repeated a ‘hold’ recommendation on Ashmore Group (LON:ASHM). The analyst has a 350 pence target for the asset manager. “We believe in the long-term emerging market growth story at Ashmore but see negative momentum near-term,” Tam said.
Currency hedging boost for Ashmore Date: Thursday 14 Apr 2011 LONDON (ShareCast) - Assets under management (AUM) at emerging markets asset manager Ashmore Group grew again in the first quarter of 2011, with the group seeing good inflows across of a range of local currency accounts. AUM grew 8% in the first three months of 2011 to $50.3bn from $46.7bn at the end of 2010. Net inflows totalled $2.3bn while there was a $1.3bn uplift caused by positive investment performance. The external debt portfolio rose by 4% to $21.5bn from $20.7bn at the end of 2010. while the local currency portfolio's value improved by 16% to $9.2bn from an end-year figure of $7.9bn. The best performance, however, was in what the group terms its “Other” themed mandate, which includes the group's currency hedging/overlay strategy; this portfolio saw a 25% rise in value to $7.0bn from $5.6bn. The acquisition of a majority stake in EMM LLC, announced on 24 February 2011, is on schedule to complete on 31 May 2011 and will be included in the group's fourth quarter (April to June) AuM figures. Trading conditions are in line with management expectations and the group remains confident of its prospects for the current year.
http://www.investegate.co.uk/Article.aspx?id=201104140700108811E
Ahead of third quarter results next week, Singer Capital Markets reiterated its "buy" rating for investment manager Ashmore Group (ASHM) with a 430p target price. Despite Middle East issues and inflationary concerns, the broker believes that institutional demand for emerging market debt remains intact. That said, with market expectations for both flows and performance low, Singer thinks the update could provide a positive catalyst to the firm's 'under-performing' shares. Shares in Ashmore moved up 4.6p to 350.4p.
Panmure Gordon maintained its "buy" recommendation for asset manager Ashmore Group (ASHM) with a 420p target price. Following the sharp increase in the group's Funds Under Management over the past twelve months, the broker believes the company is set to reveal further strong earnings growth in first-half results later this week. This, along with the fact that Ashmore is trading at a discount to the wider asset management sector, has prompted the broker to maintain its rating. The shares lost 9.25p to 351.25p.
While everyones getting sucked into the usual HBOS/LLOY/BARC and todays ORE mania I've been having a sniff around. As I've said a few times, everything I buy will be put away for 5 years when I retire, so although these quick day jumps make me happier than a Hull supporter there are some other Gems I thought I'd share. The first is Ashmore, they look to be taking advantage of market weakness and at my 129p buy last week have already started to rebound nicely. If your in for 6-12 months + this ones as safe as they get.