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I'm surprised but pleased at that reaction to the update. Maybe the market was expecting much heavier outflows or is pleased by the new appointments? Something else?
£0.72 per share dividend in past 2 years so there's an argument for this stock being £7+ before too long (unless we have some bad news such as reduced dividend, AUM declines etc). Valuation margins are not demanding. I'm holding for the long-term based upon available information.
This is just being walked down with algo trades... 10% down is a nasty consolidation if it stops here. Surprised to be honest so averaged up again
UK shares hugely undervalued. The money will come and LIO will surge. My prediction!
Https://www.cityam.com/when-will-liontrust-stop-trying-to-buy-companies/
...doesn't mean the notion is dead!
'Russ Mould, investment director at AJ Bell, called the takeover speculation “an interesting development'
https://www.sharecast.com/news/news-and-announcements/liontrust-denies-artemis-takeover-talks--16425995.html
Let's see if LIO's sp will ever break back above £10, given the challenge with declining AUM, the move into passives and the continued coolness to UK equities. It now seems like a dream that the SP was once above the £20 level....
Can put extra 5k
Can out extra 5K into UK ISA ontop of normal ISA will push people to make exra UK Investments :)
I have got five investment companies in my portfolio and they are up today, something in the budget?
Any ideas why we are seeing this rise?
Just a pointer TM17 was in the doldrums and now making a come back ...just for clarity
Lion hold 11% stake of TM17 which has done very very well.. that investment alone has notionally added 5% to Lion MCAP in paper terms.... they hold quality companies and will benefit from doing so.
Biggest riser in my portfolio , maybe it is oversold .
Strong upward momentum today. Anyone know why?
The sp was over £12 this time last year. But I remember when it was over £21. Let us see what the new strategic proposition is from the management and if any exceptional performance by LIO's funds can be delivered to stem the AUM outflow and take the sp halfway back to former heights. It is not a crime to dream....
Gewillia. I hear you. And very good points. But I'm concerned that the whole index tracking universe is now massively geared into the Magnificent 7. Same with lots of different kinds of ETFs. And lots of stocks Liontrust managers look at are undervalued. So that could be a massive and quite violent rotation at some time. Plus there is a big margin of safety here with the valuation.
Why have they underperformed? For me, and this is just a personal opinion, there's a reason expectations are low. It's because the average UK punter in OEICS has begun to wake up to the fact that many of these funds are third and fourth-quartile dogs, in so far as they underperform all the indexes and most of the benchmarks. IOW, you'd be better off paying much lower fees to a tracker, than much higher fees to a Fund House, who can't cover the cost of those fees and so underperform trackers.
For what its' worth, I just ditched an underperforming wealth manager, whose record is 2% annual growth after fees over the last 5, 10 & 15 years. Should have done it long ago. There are at least 3 houses in the City showing long term 6 to 8% pa compound annual growth, but I've no idea of their minimum portfolio sizes. Take a boo at Waverton, Julius Baer & Cazenove Capital. Three others, slightly behind them and more volatile performers are Sarasin, Abrdn and James Hambro.
Their fees are 0.8 to 1.0% with almost no dealing changes. Compare this to the outrageous dealing charges levied by St James Place and Brewin Dolphin on their clients. Usually over 1.25%.
All of these 2%'s below the benchmark, plus another 1+% dealing fees, make an enormous difference to long term performance of your savings over 20 years and, imo, investors in much greater numbers are finally realising this. There are far too many offerors of OEICS investments and wealth management services who aren't worth the fees we pay them.
Outflows. But exepected. Performance has been good i think, maybe that's a positive indicator for flows in the future
Should be information and opinion out tomorrow with trading announcement
I bought this stock together with Jupiter after the Jupiter profit warning. My view being that the multiples are very low and so are the expectations. And this is a kind of geared play on recovery in UK markets which have underperformed so much... Would grateful for any colour from anyone. Bullish or bearish.
"Is this a library, is this a library?" is what football fans would probably chant when visiting this moribund share chat.
I've got back into this stock in recent weeks. I like the £0.72 dividend (assuming it's maintained) and the consequent double-digit dividend yield. The LIO share price has declined 75% over 2 years and this seems like overreaction/overselling.
Granted AUMA has declined a tad in recent months but if sentiment turns (has this happened already?) and inflows return then the share price could be in £7-£8 territory rather soon. The forward PE ratio and EV:EBITDA are low compared to the likes of Foresight, though granted there are differences between FSG & LIO.
Intangibles have been written down significantly in recent accounts but this doesn't impact cash. I applaud management for doing this. Best to be honest and realistic re the balance sheet.
Thoughts?
What's caused this price increase from 13th.Dec.?
Rofert, I agree. The Board and senior executive team need to outline a credible strategy to build the business in the context of the failed acquisition, the continuing outflows and the built-in weakness from their bias towards equities which are out of favour at this time.
And now we have a rise to make up for yesterday's drop (almost). I wish the Board would explain a bit more and show that they have a good strategy to address the decline.