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Costs are too high in relation to its AUM.
After selling off some recently purchased oil stocks for ggod profit, i decided to add some more Unilever & JUP today.
7.1% dividend yield on JUP will do.
Does anyone know what's going on here? Why does this just keep dropping?
I have been following this share over the past few months, and looking at market cap against assets under management this currently sits at a lowly 2.2%.
The continuing share price fall is obviously a worry but is it now appearing cheap.
Not much commentary on this board, but I would welcome any views.
Further research has made me realise that this company is not an investment trust but a financial services company. Little did i know !!!
Maybe someone in the know can i explain why the JUP share price is 267 but its net asset value is currently (according to LSE) 44p. All the other investment trusts I have HHi,TMPL,HFEL,and MRCH have only a slight premium to the share price ...Discuss.
Bizarre, but a great trading opportunity.
Yea why has this dropped?
A 7% fall seems a bit harsh for spotting a typo in the results ....
Suprised this chat is so quiet.
This stock is doing extremely well over the past week. Unfortuatenly i offloaded it in quick succession. couldn't find any news on SP going up.
Could it be a takeover target? since MNG was considered.
o
Surprised to see the mooted special dividend on the cards so soon.
I think the pay-off is having to wait an extra month or so compared to last year for the AGM for this to be approved.
Not had time to work through the figures just yet, but the headline figures look promising, just disappointing that this continues to sit under the 300p level.
In profit here having bought in various tranches from around 350 down to around 220 over the past 18 months or so, but considering selling now as I will need funds for a project soon. Would look to buy back again in the future though as I have always done well holding this
After some research have taken a position in JUP, strong balance sheet and dividends... with more money following in over the next few years.
Hope this will return to the special Divi, in the next 2 years.
The JUP SP was around the 390p level prior to the big 'covid' drop at the back end of February last year.
It has taken a very long time just to get back this close to the 300p level.
For circa 20 months, the SP was in a wide range of 300p to 400p, having dropped from highs of over 600p, almost exactly 3 years ago.
Not expecting to see a return that high any time soon, but with end of year results coming up at the end of Feb, I hope to see a continued rise over the coming weeks.
The dividend news will be particularly interesting, along with the AUM, fund flows, and an update on progress with the Merian funds following their addition
A fair amount of the problems with the outflows must be linked to the pandemic corona virous, and the impact on investor confidence. The market is not reflecting this fully yet . It depends to a fair degree on the after shocks that might follow, and the length of shadow it casts over the worlds economies. You only need to see the impact on the travel and holiday industries , along with the retail trade.. But there are some winners in this, and they should emerge from the war zone In good nic. And no doubt some others use the situation to hide various failings, by the clever use of accounting etc.
I just hold and follow Jupiter.
A bit wary of finance related stocks just now, sold my banks (HSBC and Lloyds) to invest elsewhere and have a decent position in L&G with Aviva also on my radar.
WIll take a look at Investec though. tks
Do you follow Investec as well? They seem to be in the same ball park at the moment? May be worth a punt as well?
The deal was announced before lockdown, so I suppose the market could also think they are paying too much in the present climate too.
Also forgot that the stock went XD last week, so that could account for some of the drop.
Could be several factors for the disappointing SP, the deal may not be seen as a good 'fit', the big outflows compared to the likes of HL, plus the model of active management with their high fees less attractive
I have added today and happy to hold here with the dividend on offer. I see plenty of upside but will review on the next trading update
gl
It appears the market does not like the Merian deal? There was a slow steady rise in SP from the March lows to end of June, and then a slow decrease in SP from when the Merian deal was finalised 1st July, even after a 6p interim dividend was declared. Both Merian and Jupiter did suffer large outflows from there funds, not sure if this was purely performance based or other dynamics in play?
Yes it will have done.
Circa 17% additional shares in issue now, if my calculations are correct.
The RNS dated 1st July stated that Jupiter had to issue 95,360,825 new shares to the sellers of Merian. Has this diluted the value to shareholders?
The SP performance for the past few months has been fairly odd tbh. I thought it would stabilise once the deal was confirmed around the 250-260 level before increasing as markets in general continued to recover.
Not sure the half-year results announcement has been that well received.
The connection with the Merian deal could be that it meant the removal of the 'special dividend' at year end which many investors perhaps now see as a less attractive proposition, but that should have already been priced in.
HL seem to have been raking in the money from investors during lockdown, but not so much here with net outflows and a big reduction in AUM, despite performance seemingly still being decent. More attractive options in this sector could be the answer for the languishing SP?
Hoping this can get back to 300p plus though
Crocqman,
Thanks for reply. The SP seems to have backed off quite a bit of late. Is there any link with this and the take over of Merian?
hardup,
The deal was approved by shareholders on 29 June and completed on 1 July.
There is a 1 July RNS to confirm.
Has the Merian deal now been completed? Not heard much about it, seems to have fallen of the radar?