The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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It's quite strange the response on the boards. When I read the RNS my reaction was fantastic and I wished I had bought more beforehand. The dividend is around 6% for the year and supported but the reasons for the unwarranted share price fall last year have turned around. The SP is well cheap and unless there is a stockmarket crash are a definite buy IMO.
Being a tight git I set my buy back at 131.2 and just missed out on getting the shares before they went up.
Enjoy the rise.
A good day here.
Hopefully there is some market sentiment to help this continue to rise and there is a tangible change in the company fortunes too
gla
A good start. Just shows what I know!
gla
It is a somewhat surprising market reaction…..but the AUM and net cash flows were already known so I suspect this is more about the CEO statement about simplifying the business - sales of parts that may make the whole digestible?
Asset Managers still make good margins….and are highly geared to markets it is all about volume of assets and if the markets are looking up then the outlook is sunnier.
Couldn't make it up all that bad news, Sp up 10% , must of been well priced in before, yep a good time to take profit .....atb
Stuffed full of cash, so ripe for a takeover. Schroders perhaps now that they have retired the non voting shares.
Wow, wonder how bad the market thought it was going to be? Guess they've stopped the rot re outflows which bodes well for the future. Think I'll leave forecasting to others with more of a clue than me in future...
Jupiter Fund Management said, at December 31, assets under management fell 17% year-on-year to GBP50.2 billion from GBP60.5 billion. Pretax profit plunged 68% over in 2022 to GBP58.0 million. The London-based investment manager blamed macro-economic events, which hit market valuations and investor sentiment. The second half was more positive, with positive net inflows for the first time since 2017. The fund cut its dividend to just 8.4 pence, from 17.1p in 2021. It extended its share buyback programme by up to GBP16 million, bringing the total programme to GBP26 million.
GBX 151.00
12.60%
+16.90 Today, nice
up 10% and i am taking my profits
As bad, or worse, than expected. 0.5p final dividend, making 8.4p total. Continued buyback for those who like that kind of thing, but as I've said before, I can't spend a buyback. Think this will bomb this morning.
From my quick scant, these figures do not seem to make for particularly good reading.
Some encouraging signs on inflows of late, but not that much else to write home about.
No mention of fees from my quick scan, not sure how this will not be a continuing subject coupled with poor fund performance.
Not been keeping too much of an eye here so have not seen any analyst forecasts or guidance to compare actual to expected.
Further to my post of yesterday, I would be leaning more towards takeover target than recovery here.
Don't think the markets will react well to these results, but you never know, the market may view them better than me and focus on the (few) positives.
Fingers crossed for today
gla
It will be interesting to see the situation with regard to outflows, fees and an update on the growth plans.
Not expecting fireworks, but you never know.
Takeover target or recovery?
we could have a very good day tomorrow so i am buying more today , fingers crossed ,lol
Notice of results
Jupiter will be issuing full year results for the year to 31 December 2022 on 24 February 2023 and will host an analyst presentation to discuss the results.
It is good job people don't listen to the idiot poster who said that they would buy at 65p!
I have bought in here based on good positive momentum and dividends.
...in FT as a possible takeover by US private equity.
Edward Bonham-Carter was featured in a full-page article in the Sunday Times Business section a couple of weeks ago. Interesting character. Sounds like his role at JUP had been reducing significantly recently. However, a big chunk of his personal wealth is still invested here, and he sounded very positive about future prospects. Happy retirement!
Being knocked down by Tellworth who have increased their short position ...I am out for now at 131p ...seemed a struggle to get higher ....but will keep monitoring ...need to see if the Bulls buy up the drop
Yes I saw the responses to your question moneybox, nothing definitive there though was there? Guess it's just a waiting game now.
JUP so far proving the expert wrong ,nice
I raised the same question on 29th October (see below) and consensus seems to be about half of this year's so around 7%.
I'm struggling to work out what the level of future dividends will be here, which obviously makes investment decisions difficult. I've got a small investment here and am looking to increase my holding ahead of (hopefully) further SP improvement but I'm not clear what future returns might be. Can anyone help?
From the latest trading update: "With effect from the year commencing 1 January 2023, our ordinary dividend policy will be reset to 50% of pre-performance fee earnings and will no longer be subject to a minimum of the prior year amount."
So, does that mean a final dividend for f.y. 2022 in May of c. 9.2p? Or 9.2p less the equivalent of the buyback programme ending in December? Or a potentially lower figure than 9.2p less the buyback programme?
And for 2023, does anyone have a clue what "50% of pre-performance fee earnings" might equate to in terms of interim & final dividends? Do people expect any further distributions for 2023 to be by way of more share buybacks?
Grateful for anyone's knowledge or thoughts on this, TIA. K