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Well hello Josey , good to see you on here too . This is one share that I made a lot of money on . Bought for £1.03 back in November , sold for £1.43 in Jan so 40% profit in 2 months ...and now I see it up for sale at 80p and you are right it sounds like a steal and it probably is
Can't stop reading Florence 141414 post on 17th October though, when he pointed out that staff now account for 47% of fee income whereas previously It was 41% they performed very poorly and have now been rewarded even more highly for it ! ...also fee structure has reduced
Florence's conclusion was good for staff , good for clients , bad for shareholders , is a comment which is haunting me at the moment and preventing me from investing right now ...also and I know it's historic but October is usually the worst month for shares , so tempted to hold off for another two weeks and invest in November .. of course sods law say that it will take off , and I almost took the plunge at 75p and it's already 80p so what to do next is the dilemma ..losing £1 billion in a quarter in AuM sn't a lot , just take a look at the hemorrhaging of funds taking place with Liontrust and you will see what I mean ..
What I don't know though, is the relative performance of each of the fund managers, on the funds they are managing over the past 1, 3 and 5 year timescales ..which quartiles they are in ...if I get time I will check out this over the weekend
What I will say though is that when the share price of a Fund Manager rises despite the markets falling , then that is suggesting some positive momentum ..
It looks undeniable value at this level. All UK asset mangers have taken a bit of a beating over the last 2 years but this has stronger foundations than most to build on, for when the market inevitably starts to recover.
Fundamentally it's as sound as ever but climate is so bearish even a small AUM outflow is punished arguably disproportionately. As soon as it has a quarter or two of AUM growth I do expect it to recover quickly. In meantime would like to see them cut costs to maintain margins, eg slashing headcount an easy win.
There is no way the city will turn a blind eye to this. Lots of cash rich funds would love to buy this company. Cash rich, profitable and has a strong brand name
I really don't think there was anything too surprising there. The summer was brutal and the exodus form UK/European equities is reflect is general trading volumes and 'seemingly' hammered SPs (a bit like this one today)!
It's a company without debt, paying a divi, and now substantial room for capital growth too. To be in the 70's is unbelievable really.
Q4 just depends on rate direction I imagine. Might be H1 next year before any decent pick up in AUM.
"...Good for clients, good for staff, ...."
Indeed. And the rub is that neither reduced fees nor higher remuneration seem to be working. If AUM continue to decline over the next quarter, I fear yet another cut to the dividend in April.
This is now my worst performing share.
To think this was over £3 in recent memory with an attractive dividend yield, but has been on a downward trend for a little over 2 years now.
Whatever the last couple of CEO's have implemented to change things here does not seem to be working.
What is needed to turn this around, the market reacts to drop the SP on any news.
An outdated model and now vulnerable and in takeover territory? Maybe that wouldn't be such a bad thing
Ooops sorry,wrong ticker
I can see a couple of reasons. Lower fees and an increased compensation ratio from 41% to mid/high 40s. I believe that a 5% difference is an increase in staff remuneration of 9m (assuming constant revenues).
Good for clients, good for staff, bad for shareholders.
https://www.proactiveinvestors.co.uk/companies/news/1029955/jubilee-metals-to-process-mopani-copper-mine-****-after-jv-agreement-1029955.html
We were already a takeover target in the £1-£2 range, surely it’s a given now. New management and scale needed I think. Hopefully a bounce back up after investor call
AUM down another 1.1bn with no sign of improved investment performance?
I see no good reason for thir morning’s 10% price drop.
Webcast 17 October 2023 at 9.00am BST - Q3 trading + biz update. On their IR site.
When is the next trading update ... is one due in October?
Aviva on takeover watch.
Us next
All the shares being pummelled are those with debt, we have none. £150m in the bank and growing.
Profitable every year for as long as I can remember, think we’ll fly again soon
I recall these old articles and wondered is now Jup’s time to be taken over?!?! Every fund manager is talking about scale is the way to make money. Will be interesting to see if we increase our funds under management in trading up in 2 weeks
I recall reading this in 2021
https://news.sky.com/story/amp/fund-manager-jupiter-hires-bankers-to-draw-up-1-5bn-bid-defence-plan-12492538
And then this 6 months ago
https://www.standard.co.uk/business/corporate-britain-sainsbury-private-equity-us-b1074674.html
Surely somebody like Citi could be lining up to make a cheeky bid. No way we’re worth £1.5bn now but surely double where we sit now
Citi are in fund management, I wondered if their increase in position today was to build their stake at these prices ahead of a takeover
The below does not make much sense. JUP have 11% of SYNT before the SYNN shares get put into the pot next week. They have a little over 2m of 20m shares in sYNT which becomes 2M of 160m next week. I'd say it's also likely they sold their nil paids early on avoiding something like a 40%+ drop in them in the ensuing days. Just smart fund management. As it turns out I reduced some SYNT and bought more of these today!
Really don't get the UBS downgrade but it has effectively driven JUP down on no volume.
My understanding is JUP has taken a position in SYNT, presumably the broker is Citibank. Not sure where the take over theory comes from... please correct me if I am wrong.
Difficult time for SYNT holders at the moment.
XXXAct Sorry I don't quite follow your thread. Can you please explain like I was a three year old?
Not sure if you saying it is a good thing or a bad thing.
Thanks
Citigroup part of purchases by Synthomer have just upped stake for 6% to 11%
Who’s gonna buy us?
A year or so ago, board said a bid well in excess of £1.5bn, well that’s 4 times current price
Got to say, when I bought these sub 95, I thought they'd bounce straight back up. Just added some more as it makes no sense. Not like they are drowning in debt and the outflows will abate in the relatively near future. Last time I had these I sold in the mid 120's and it went to something like 150. No reason it can't do the same again and I'll hold this time!
Y and looking at ABDN.L, can't help thinking JUP.L specifically has been an overly severe thrashing for an - admittedly huge - outflow that is hitting the whole AM area. BTW thank god I called the ABDN.L top dead on + got back a third of my JUP.L black eye.
I am a long term holder here, but cannot see the reason to add further unless it goes under 100. There are simply better, and safer, opportunities elsewhere. MNG is one, in this field.