Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Q3 AUM update: although Q3 was slower @ImpaxAM, there are no changes to Equity Dev's FY23 forecasts or valuation/share of 900p. Indeed its PER is back to peer-group median levels despite strong relative performance and good growth prospects.
Read / hear that new research note here (free access):
https://www.equitydevelopment.co.uk/research/slow-q3-dividend-yield-now-over-5
I bought another tranche this morning at 536.5p. This is approaching the lows seen in September 2022 with, hopefully, a floor at 500p. I have only one more tranche to buy then I will have completed my holding. With hindsight I did start buying too early but I say "tops and bottoms" are illusory; have a strategy and stick too it unless the fundamentals change. Next purchase 500p and if I don't get them at least I have 80% of my holding now.
I am deep under water here along with many of my other shares. The sell off since the results has been crazy... 40% down in a month on some average results
Hi Jeffrey,
Well is did stabilise for a day or two but is heading south again. I was going to buy some more at c550p but will wait to see how they open tomorrow. I don't know why there was a near 5% drop today except that falling markets is not good news for asset managers. Most of the deal were smallish but I did see one big sell. I'm holding my nerve but, with the benefit of hindsight started buy too soon.
What a car crash - any insights appreciated
Mr Picky.... Any idea of what's going on.... This has been a massive drop for a minor underperformance... Emailed comma but heard nothing
Slipped in, just before the close, to buy some more at 574p. Now got 60% of my intended holding, showing a loss of course but that's what buying in a falling market does. Not sure what my next buying price is but if I'm lucky I may get some more at around 550p.........................
Bought a few more shares today at below 600p but have not yet reached half the holding I hope to acquire. Keeping some of my powder dry because I think they may well fall a bit further. Their balance sheet is fine and they could weather a bit of a downturn in markets which would reduce the income from FUM. Their client base is predominately overseas (about 20% in the UK) and they are not overdependent on any one region or type of investment mandate.
You have to believe that the extra costs they have taken on to support the business will be more than covered by new mandates and increased fees from the concomitant rise in FUM. If not their impressive range of shareholders will be unimpressed! Don't forget its an AIM stock and pretty volatile. DYOR if you do think of buying
Well I hope it has bottomed.... I emailed corporate for a comment as this has historically been a solid share
Sorry, should be "at 638p"
Yes, I dipped my toes in and bought a few shares, one can never be sure when it (or
(any share) will bottom. My instinct is that it has further to fall and I will (hopefully)
build up to a full holding on falling prices. Did you see that Annette Wilson, one of the
NEDs, bought 9000 shares at 838.2p? Nice to get my toe in al less than her!
Mr Picky you got your wish - this share has become a joke. Scary movement in2 weeks
Thanks... Response and views appreciated
Hi Jeffrey, IPX is certainly a volatile stock and sorry to hear you have been caught on the wrong side of that volatility. Stocks don't go down in a straight line and some rally (starting today?) is to be expected. The stock has spent most of the year before the latest results hovering around the 800p level and the market was caught out by the results. I think the stock will test the 600p level it saw last Autumn and that would be my current "buy" level. The company has invested in staff and systems to service more clients (FUM) and until they get more clients their expense ration will remain higher than it was. That's what I think but if I got it all right I wouldn't be writing here ! All the best.
Well done... Any views on whether we have seen the bottom.. I am gutted at my be was early 800s which we saw before it tankedn20%.... Not happy
I took what I call a "spiv's turn" and sold the shares I bought yesterday at 671.5p just now making a fraction under 5% profit.
Nothing wrong with the company and the shares may well go higher but a bird in the hand is.........
for anyone who missed this week's in depth impax webinar with ceo ian simm and cfo karen ****burn, here is the video recording.
there are 29mins of management presentation + 25mins of audience q&a, watch it here:
https://www.equitydevelopment.co.uk/research/investor-presentation-interim-results-investor-presentation-may-2023
Having seen the share price fall 215p (25%) since I sold a couple of weeks ago I bought them back this afternoon at 640p. I am being greedy now hoping for a second (small) bite of the cherry. Its a bit of a bet on the market overall, I will post if I sell, at a profit or a loss !
I topped up a little - this is down over 50% from its high and still making good money and strategic progress in a growing sector...the markets are beyond irrational
Hold your nerve - not going to put me off at all - In it for the long term as I say 'Sound business model'
Next week will look entirely different - he said hopefully !
NOw nearly 20% - what is going on - any views???
Down 15% in two days - not so sound
Solid numbers and sound business model makes my trip to Edinburgh next week worthwhile.
I will wait and see them 'in person' and leave the webinar for another day.
https://www.sharesmagazine.co.uk/events/event/shares-investor-evening-edinburgh-live-event-080623
"us06web.zoom.us refused to connect."
Not as easy to sign up for the Webinar as you might think!
Research note now published : in H1 12% AUM growth and £1.1bn of net inflows were impressive vs peers. Although investing internally for further growth reduces short-term profit estimates, new Fair Value seen by Equity Development at 900p/share.
Read their full new note, hear summary below:
https://www.equitydevelopment.co.uk/research/poised-to-thrive-in-sustainable-investing-2.0