Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
More likely goes down to 1£ for this winter
Yes Jup done well recently from lows of 90s riding today, be great if dividend yield continued but doubt very much , pulled capital out now , left small profit in shares.....atb
Up more than 30% since you said "Run- it’s liquidating all assets" stevescott1001, any more words of wisdom to share with us?
Poker chips
Yes I agree with all that you are saying and we both have a vested interest in this share coming good .
Did you listen to their recent presentation ? If so , what did you make of it from your perspective?
candidinvestor
thanks for your more detailed response which I understand better than your previous short comment
.... yes...well they are making a correct call in these more volatile and difficult times to pay the dividend based on the actual period earnings rather than anything related to the previous period, and making decisions to hand out anything else depending on other factors ( which I agree doesn't look immediate ) ..I wonder if they are doing the buy-backs for tax saving purposes,more than anything , and taking advantage of the lower share price opportunities - more than anything
last interim dividend @7.9p cost - £43.7m
last final dividend @ 9.2p cost - £48.6m
so...a cost of £92m which would be difficult to match on 2022 performance in a difficult year
regards
My apologies .. what I meant to say that buying back £10 million of shares REDUCES the number of shares outstanding by less than 2%
Poker chips ...I looked at the half year income statement ..
The underlying operating profit before performance fees at the half year was 8 p per share ..assuming full year will be approx twice that , so in range of 16p
So dividend likely to be around 8 p per share or slightly less than 8% of share price
The full year underlying profit per share excluding performance fees for 2021, was 24 p so dividend under the new policy would have only been 12 p per share ( they paid 17p. )
So a dividend of 8p per share forecast for current year baseline is approx half of the 17 p per share distributed last year
Regarding returning surplus capital ..not sure where this will come from because the final statutory earnings per share after everything removed was only £17 million for the half year
Spending £ 10 million on share buybacks dilutes less than 2% of current total share base ..
Essentially buying the share is making a punt on revenue , because admin costs are relatively fixed . I am gambling that this will happen based on the shake up to funds that the new management will make . Not fully impressed by their presentation though
Hence my reluctance to commit more funds at this moment in time , so I am hoping the turnaround will begin in the second half of the year as they suggest .
Good luck all and as ever, please DYOR
Shame. Edward is a good guy.
FWIW I think you have bought well. The last update perhaps marks the end of the beginning, and a turn may be at hand. There is now management concern for investors and the share price. PER = 9.7, o pretty decent. New management in. Give it three years.
" and now the dividend is going to be cut , by likely 50% "
you need to re-read what they have ACTUALLY said about dividends and what they added about possible " additional returns to shareholders" ....there is also the buyback programme reducing share numbers
I am not sure about this share but I have made an initial investment of a modest amount. The share price hasn't been cyclical , it has been on a death spiral for the past 5 years , losing 80% of its value , and now the dividend is going to be cut , by likely 50%
Is this an opportunity I wonder. I listened to the webcasts at the half year and the 3rd quarter , I couldn't see any genuine enthusiasm or inspiration ..it was a shallow , if slick presentation ..the FD looked as if he would rather not be there , which is hardly surprising given he has overseen the demise
The most encouraging feature has been the reduction in outflows and the addition of a couple of sovereign wealth funds ..also the share price is heading northwards , are they turning the corner I wonder .
Reducing dividends , although to be expected , is rarely a good sign of things to come .
Like I said at the beginning ..undecided
Would anyone like to share their thoughts ?
So if you followed Citigroup's advice you would have done a perfect "Buy high, sell low". Well done, Citigroup: perfect "catch the falling knife". You sold bang on the bottom! You get the "Torygraff Questor" cup, inscribed "Buy high, sell low, and always be the last to know".
not a lot of volume but JUP is up more than 7%
CitiGroup is already proved wrong. Target price should be 150p.
CitiGroup raises Jupiter Fund Management to 'neutral' (sell) - price target 95 (85) pence
got more than i hoped today
Basically, yes, all ok. I said to myself I'd double down when:
(a) Chairman Matt demonstrates a clear change in the trajectory of the AUM, and ..
(b) ..and JUP.L begins to look like a garden-variety LSE AM in a rough patch, as opposed to a Kamikaze.
I think this has happened. Anyone else?
This is a dividend cut but it is similar to what M&G does. They are doing £10 million in buy backs to show they are positive going forward and the dividend is now more sustainable. The guidance was good and I think we might have seen the bottom if markets don't suddenly crash again.
50% of "pre-performance fee earnings". Anybody any idea what this amounts to?
Bonds have been on a slide for about a year … where JUP is being stung for revenues on that bond holding Crysalis basket case plus the general market decline …. dividend looks to be cut by 50% while Jupiter is absolutely resistant to moving into tracker funds … from the discussions I had with investor relations …. add to this poor fund managers …. performing worse than benchmarks …
… meanwhile, these types of stocks trade at a yield of 8% to take into account risk … so do the sums.
At some point, the market will turn and if Jupiter has not been taken over by then, it will benefit from inflation meaning people need to save more for future pensions.
this might well be true in order to show that the anti-inflation measures are working. Hopefully those `in charge of the levers` won`t wait too long before applying the breaks. A return to more normal conditions is what would boost confidence, i believe.
Seems more likely than ever that there needs to be more consolidation within the Fund Management sector , in order to improve margins and profitability....
https://www.youtube.com/watch?v=lCZCv98XKFs
"They're out of sorts in Sunderland
And terribly cross in Kent,
They're dull in Hull
And the Isle of Mull
Is seething with discontent."
15% of workforce to be cut in next 30 days, Starling sell off. Bad times ?
Cassandra29 I agree with your assessment.
Most of the UK fund managers (not those with pensions and insurance like Aviva) have had a torrid time this year. ABRDN is also having a nightmare. The main reason in my opinion is the cost of living crisis - £2 billion was taken out of equity funds in the UK in August alone. Jupiter is not going bust and is extremely cheap but the continuous fall in funds under management due to the tech crash and the cost of living crisis is an issue. I bought more on Thursday at 91.78p because the bad news is in the SP IMO. Yes I admit I got this one wrong at around £1.20 3/4 weeks ago but going against the market can be dangerous but also very rewarding eventually. With Liz Truss in power the cost of living crisis might be reduced and forced sale of equity funds might ease and the world market might also be able to see beyond the rate rises (this tends to happen 12 months in advance). Today we went up over 3% when the Nasdaq was falling which is a change of what usual happens. JUP is a highly geared play on the world equity markets and also the UK investors who are being forced to sell and so is not for the faint hearted and the SP might well fall until both issues are behind JUP or a takeover. On one good news today is a director bought shares with his divi.