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I try not to guess at such things. I believe that many of the larger trades here are brokered between parties off market by FinnCap , and then notified. I do not think transparency directives are always followed.
Yes. Though I thought also it could just possibly be an OTC trade notified to the market by one of the two parties to the transaction. We appear to see a lot of them
and no impact on sp....
Blackrock is one of those, investing in associations to "provide our clients with access to inherently stable long-term cash flows and seeks to achieve their ESG earnings objectives."
It also has 4.5% of Castleton.
It did not print, but I intended to add that I am entirely content that Castleton now has the right staff, abilities and structures in place to compete well. It has been documented here. It just has to do more of the same, and keep doing it.
Thankyou. I recently read a piece during which the point was made that despite the uncertainty surrounding Brexit in other sectors, investment has been flowing into social housing, with associations locking in capital markets' investment rates. It is a thriving marketplace, and beneficially to my investment is here to stay.
respectively.
She said: “The UK is experiencing a housing shortage and there is an opportunity to make use of private, long-term capital to create affordable housing that meets the needs of communities across the UK in a socially sustainable way.
“I and the rest of the committee look forward to advising Shamez and the investment team as they progress with what we believe will be a successful example of public-private partnership and demonstrate the benefits of impact investing.”
The new fund’s interest in UK affordable housing was first reported by Bloomberg in January.
Mr Ellis added: “We are committed to helping our clients achieve positive financial and social outcomes with their capital and believe that affordable housing is an ideal strategy for this purpose.
“Shamez brings considerable expertise and prior experience of investing in affordable housing projects, and we are delighted that he has joined Man GPM. Our private markets business is a key diversifier for Man Group and we believe affordable housing is an attractive asset class for long-term investors.”
Update: at 8.33 on 26.2.19 This story was updated to correct the figure for Man Group’s assets under management.
Social Housing an attractive investment asset class - and a strong market for Castleton and other management tech providers.
Hedge fund giant to launch registered provider of social housing
NEWS
25/02/194:15 PM
BY LUKE BARRATT
The world’s largest publicly traded hedge fund company intends to launch its own registered provider of social housing, Inside Housing understands.
It is understood Man Group will focus on lease-based transactions with councils and housing associations but also hopes to enter into long-term management contracts with social landlords.
The firm, which manages $114.1bn worth of funds, said in a public release that it will seek to deliver homes for social and affordable rent, shared ownership, Rent to Buy and market rent and sale.
It added that it will launch a new ‘community housing’ team, to be overseen by its newly hired head of community housing and portfolio manager, Shamez Alibhai.
Mr Alibhai was until recently portfolio manager of the Cheyne Social Property Impact Fund, which he set up. Here, he was involved in lease deals with housing associations and local authorities.
He said: “I am delighted to join Man GPM to develop a UK-focused community housing strategy as part of Man Group’s growing responsible investment platform.
“The scale of the housing shortfall across the UK requires innovative solutions to enable all types of households to help meet their housing aspirations and needs. Man Group’s resources and commitment to socially responsible investing provide a strong foundation for pursuing our goal of alleviating this problem.”
Man Group, best known for sponsoring the literary Man Booker Prize, is the latest in a series of private investors to enter the social housing sector, following the private equity giant Blackstone and the institutional investor Legal & General.
The billionaire family Pears Group has also made an entrance into the sector in recent months and a flurry of private house builders have registered as providers of affordable housing.
Also operating in this space are a number of hedge funds and publicly listed real estate investment trusts which buy up properties to be leased out as supported housing. The housing associations which deal with these funds have come under increasing scrutiny from the Regulator of Social Housing in recent months.
Luke Ellis, chief executive of Man Group, said that its private markets business is “a key diversifier” and that the company believes affordable housing “is an attractive asset class for long-term investors”.
It has established an advisory committee, which it said will guide Mr Alibhai on how to deliver an investment strategy that provides “both financial and social returns”.
Dame Katharine Barker, who authored an influential review of housing supply in 2004, will sit on the committee alongside David Hutchison, the chief executive of not-for-profit Social Finance, David Sheridan and David Gannicott, formerly of Keepmoat and Hyde respec
IC View
It appears to make sense for the broader Castleton group to take the capabilities and skills of Castleton India in-house. The company made another larger acquisition in January – buying Deeplake Digital, a provider of digital technology for landlord and tenant communications in the social housing sector, for £1.8m. The shares trade at 15 times forecast adjusted earnings for FY2019 (based on house broker FinnCap’s estimate). Buy.
Last IC View: Buy, 92p, 6 Nov 2018
TechmarketView
Castleton buys development expertise from Indian partner
Martin Courtney, 08:12, 21 February 2019
Castleton buys development expertise from Indian partnerThe £350k purchase of CarbonNV InfoLogic is just the latest in a string of acquisitions for Castleton Technology as it pursues its buy and build strategy (see Castleton Technology: The post-integration journey and Castleton Technology acquires Deeplake Digital).
The deal makes perfect sense for a company that has come to be known as Castleton India given the close partnership between the two firms forged over the last year.
CarbonNV’s 21 staff in Bangalore and Vadodara, which currently provide software development expertise for Castleton, will now become Castleton employees. Management hope the extra headcount will help the UK managed service provider bring new digital products to market more quickly at lower cost.
That looks like a sensible move to us, given the company’s ambitions to align its portfolio more closely to market demand and the continued shift towards business process digitisation and mobilisation.
Here's Tony Smiths's initial views on it from December. His points have or are being addressed, with the operation now part of the Castleton Group like Kinetic, and staff numbers growing to whatever level proves efficient and effective.
http://tonysmiththathousingitguy.blogspot.com/2018/
This is the first notification to shareholders - it was previously published on the website, and has taken some time to bring it into the company structure. Headcount has increased by 5 since December, and I read into the RNS that further expansion is anticipated.
( housebroker) reiterates 125p in morning note re. Castleton India.
Acquisition. Squares it all up following the earlier announcement.
Don't hear much about Lcal authorities, but read today that Castleton working on project with them due to go live 2020.
It is yet early days as year end approaches. Results will be additionally sweetened with that small dividend for the current year.
Share price held today, despite the selling. Don't know what to make of the 88.25.
Taking a hammering today on the sells. Didn't think we'd go sub-90. But there you go.
Now out. Good catch up over last year.
https://www.castletonplc.com/wp-content/uploads/Castleton-Interactive-newsletter-2019-Final.pdf?utm_source=&utm_medium=&utm_campaign=
Much of it we know about, amongst it and new to me Castleton India working on new solutions for March release.
They also opened a brand-new, purpose built solutions training facility at Sutton Coldfieldeld (that seems to underline future confidence )
Managed Services showing traction, with 22 HousingBrixx customers migrating to hosted.
Kestrel decreased. Big trades shown on 1st. Feb. That particular day was solid. Somebody picked up those for then. Perhaps we'll get to see the other side by RNS.
And another £147k at 93p popped up since.
Now, I venture that £139k is a buy.
More to the point, it is widening the shareholder base, at no cost to other shareholders.
£614k at 93p at 1630. Possibly one relates to another. I don't know. It's all too much.
Fairly major I should think!
Maybe a RNS either way. Whatever, shares starting again.