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"Are you referring to this from the AGM ? Is this different to other years ?" Don't know about other years ... but once approved, I fail to see the point of repeating .... there was also a mention in the annual results of going for share buybacks rather than a special dividend going forwards .... I assume this is because of the low valuation of the stock.
I bought back slightly too early after the spike from December 2021 owing to:
"Jupiter fund manager hires Robey Warshaw to defend against predators"
and results seemed good to me .... assets under management up if I remember rightly while outflows also up taking the shareprice down owing to hedge funds looking to make a quick buck.
Seems to me, that outflows with increased holding assets simply means folk have taken profits.
I don't have a problem with that.
GLA
If a hedge fund wants to pay my dividend …. What do I care.
GLG Partners LP have been adding to their short position - 0.81%
https://www.shorttracker.co.uk/company/GB00B53P2009/
Hi Gavster …. I assume over time but you can check from the voting form for the AGM this year ….
Hi Temple. I increased my holding here today, ( I missed that quick dip in Seplat so bought here). Are you referring to this from the AGM ? Is this different to other years ?
It's a lot of shares, nearly 10%. I'd still rather have a big divi though. Divi's have a bigger uplift on SPs IMO.
"18. That the Company be and is hereby generally and unconditionally authorised... to make market purchases... the maximum aggregate number of ordinary shares hereby authorised to be purchased
is 55,306,074"
Jupiter AGM in May is looking for a £100 Million share buyback program ...
i pulled some money out of financials as Putin started the invasion, But have bought back into JUP, HL, Lloyds & added more IMB this morning.
Still have some cash to add on any further weakness.
If JUP has any spare cash it should buy back as many shares as possible at these prices. If anything it will help maintaining the dividend easier.
Have made some good money here over the years, and a decent dividend yield.
Not been following too closely for the past year or so though, and the ongoing net outflows is one to watch, although it has been going on for a few years now, from memory.
Will be looking to buy back here in the next few days when funds are available, especially at these prices, but will have to have a read up first just to see what has been going on of late with changes to directors, latest results, etc
Not sure how successful the acquisition of Merian has played out so far, but not exactly the best financial climate for this to have happened, just at the outset of covid 2 years ago.
gla
After top slicing some profits off some stocks a few days ago, i've decided to add here again (Didn't expect it to go below 200p). In a way i'm glad it did, because if they get their act together it could be a great recovery play plus dividends too.
Perhaps the company see buy backs as better value than specials given the very low share price?
ok maybe with buy backs a good recovery of the share price instead
It’s very profitable isn’t it!
Results today are not great. Net ouflows are still too high at 3.8bn. The 3% AUM rise cannot mask this continuing deterioration. It seems growth, or even stabilisation, will only come by way of acquisitions or a takeover. At this price, and following the inevitable fall today, JUP could be attractive to a US buyer.
Nearly all fund management companies have bombed, not just JUP. This is because their rip off the customer business models are no longer viable. A Plan B is needed.
i topped up yesterday so now have over 18000 shares in this so im concerned about the dividend announcement on Friday .At the very least im expecting them to maintain the dividend ., and im hoping they increase the special from 3 p .The interim figure for underlying earnings was 78 m and there is no reason to believe that the second half wont match that so at that is at least 150 million full year less tax about 120 million better than last year when it was only 105 and we had 12.2 p last May and 7.9 in Sept. With this prospect in mind the price does not justify the performance and the increasing AUM .One suggestion by analysts is there is the future prospect of more regulation in this industry and more competiton but it does not seem to affect MNG the same way and they pay 8.5% approx (which i have ) but without the loss of capital. Cannot see that when the global economy is firing on all cylinders this will not reach a more acceptable valuation .
Mother of all falling knives. But I am thinking of doubling down @210 for the 8% div. Any idea why this continual slow puncture is happening?
JUP is one of the smaller holdings in my income of, But I'll usually add when it sits under 250p for the 7% yield.
Just to say that I joined holders here a few days ago at 225. I'm hoping I picked the bottom as I've been monitoring this for a good while and the divi is close at hand. I'd like it to be a long term income hold but that will depend on SP performance vs Divi yield. If performance looks good I'd like to add more. This is a very good play for a diversified investment and the first of this type of share I've bought... geo.
www.thetimes.co.uk/article/jupiter-fund-managers-make-60m-from-chrysalis-m6bw5txz2
Foreign investors can find value and diversification in UK companies (many of which like JUP are really global companies).
US markets look over valued. S&P 500 is riskily skewed by FAANG + Microsoft.
And the GBP/USD exchange rate is favourable.
UK investors don't like UK companies... Foreign investors love them and are constantly buying them. the grass is always greener elsewhere! I've added another wad. Nice divi as well!
Should never be this low… just wish I was buying this now :-)
Not much posting here - really good appointment made and positive SP reaction expected imo
THG
Costs are too high in relation to its AUM.