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Yielding over 9% with a well covered dividend. That's not a bad return for a dog.
yes I did. cheers.
I think jegward has misinterpretedfridays RNS showing MNG has reduced its holding inGeorgia capital plc.
MNG has a Diverse set of shareholders and they will come and go with RNS when needed.
Read the management presentation….then look at the future growth promises and weigh the structural issues the sector faces……then decide whether the value rating is justified…..it does seem too cheap to me.
Dividend is one
surplus is two
The growing self-generating target of 2.6 billion is three
A stable company is four.
Which major holding is selling?
Someone give me a reason to buy in here apart from the PE, given a major holder is selling.
Quite a lot of buys today if the figures are to be believed. Wonder if it'll rise Monday?
funny reflection ... I bought TEP and MNG on the same day at the beginning of Sept........The idea was to rely on the dividend and be happy if I double bonused with SP growth......... TEP is up 20% on the month and MNG is down 1% on the month..... I suppose it means that when I top up on both again at the beginning of October I will get the same [ish] number of MNGF shares but 20% less TEP shares..... swings and round abouts really as I have not reached my destination yet. [retirement]......B
Thanks, Jatw it is the current plan of action to take the dividends with the bonus of a possible share price rise in time.
In the meantime take the dividends and read the results for future prospects.
Karv
I think it is all about growth prospects. SDR has a large venture with LLoyds which should convert a lot of cash accounts into investments with predictable fees for managing the customer and also managing the funds. There s cost pressure but think 1% for advice +1% fund fee of a large value.
MNG generates little in the scope of the first 1% and currently depends on the second 1%.
Fund managers come in and out of fashion, it looks like MNG is addressing its performance issues which should drive money into their funds and are using ESG to try to differentiate in the market.
MNG has also acquired ascentric last year and sandringham financial planners this year to help drive up the advice and assets under administration. They will need to make further deals to increase market share.
There is also the promise to take PruFunds to Europe but this is still to be delivered.
These initiatives may bring growth in the future. The market wants to see the growth coming through before marking the sp up.
SDR deserves a premium over MNG for its established path for growth in fee income.
If MNG can get on a similar path, then the gap can narrow…..it is quite a big if.
Thanks, Jatw So I guess it depends on how much was short-term fluctuations and how much were derivatives hedging, out of that loss, I try to google the information, every time I think I understand something it leads to 2 more questions.
On Schroders half year 304m after tax x 2 would only equal a 6% return if they paid out everything, it looks like they pay out 50% for a 3% dividend 10 billion value sounds expensive. I am guessing long-term shareholders must be after SP growth.
Schroders does not have the same capital requirements to meet as MNG because it does not have to provide guarantees unlike MNG to its insured book.
The IFRS results for MNG will be more volatile because the assets making up the capital are marked to market prices. There is a risk that MNG might need to raise capital if the markets crash, hence it buys some protection in the form of hedges…these will smooth the results out by offsetting market movements with hedging movements.
The market likes wealth managers for their large margins and sticky customers…..MNG is seeking to build up its wealth offering. Schroders has a large wealth element to its business as does SJP.
Hence SHDR and SJP appear much more highly valued than MNG…..but the market expects more from them.
When you compare the likes of SCHRODERS with a very basic look
Schroders Total Equity 4.08b profits 6 months pre-tax 400m valued at 10b
Mng Total Equity 5.5B profits 6 months pre-tax 320m, IFRS loss after-tax, of £248m if you are able to look past this then should we only be valued at 5.2b compared with Schroders 10b
IFRS loss after tax of GBP248 million; impacted by short-term fluctuations in the fair value of the surplus assets in our annuity portfolio and derivatives used to hedge the Solvency II balance sheet caused by increasing yields and rising equity markets.
A question beyond my knowledge a 500m drop to a loss from 327m to-230m can go 2 ways?
Can the short-term fluctuation get back that 500million and even go by more to where we could see a technical profit of 500m+ profit in the final 6 months with some imagination? + another normal 327m profit?
or am I living in a fantasy land of not understanding?
not sure about trading it karv...... not much swing in this one....... its stayed in a very narrow range for the month... 198 - 206..... however apr to aug was much more erratic 200-250....... so I wonder if it wakes up in October.... B
MNG's trade volume does seem to be way above it peers it seems many people like to trade it.
I think the fear factor has a big role, due to its short time on the stock market.
The lemming affects 1 jump of the rest follow thinking that the one in front knows something.
Anyone that holds this long-term is likely to be laughing all the way to the bank.
with the FTSE having a good day, seems a shame that MNG is having an underwhelming one......thought 208 would have gone today....B
Ah OK ta. Tbh I wasn't aware you even got divis with spreadbets! Cheers.
No not spreadbets. All bought and paid for. I gave up spread betting after consistently losing. Why does my story not sound right?
morning..... I am buying monthly and my first purchase [sept] was 205...... been underwater almost for the complete month.....lets see what my October purchase looks like as 200 looks to be a solid floor ...... but will keep adding until retirement, looks like a 203/204 on the cards........B
Hi, falk I added 28k shares at 203.60 to 204.10, not the best price so far today but I calculated differently because I am mainly 96% in 1 share person stupid though this may be, I just calculate my highs in cash or losses from those highs. I guess when you are in many shares you have to be far more on the ball with averages for profits and losses.
Yes seems solid and £2 a definite floor imo. I'm on £350pp here at average a little higher than you though. Waiting for my divi. Iweb always seem a bit slow.
Oh well div’s tomorrow, will help to cover my -6% down. Happy to hold and add.
Could be worse Falky at least you don't hold GOG -25%
From what I can see 19m are off-book trades in 4 lots of 4m trades and some semi-big trades. I wonder if we get a notification today about a change in % from someone.
The volume of shares at the moment is crazy high and has been over the last few days 20m by 2 pm odd stuff going on
compared with LGEN 1.7M
AV 2.5 m
phnx 300k
DLG 1.3m
We are even beating the banks when on volume/price