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Agreed, the market is marking asset managers as a generic group with the same brush. PMI managed to steer itself well through the last decade as quality prevailed within a talented team. Last year was a tough one but Q4 22 seemed to indicate that the tide was turning post Covid. It's a difficult call given the current rise in inflation and cost of living constraints but PMI has a strong reputation and prudent management so should be one of the leaders as conditions improve. A firm hand on the tiller and a straight course are the key drivers. Hopefully there won't have been a dash for cash last quarter and AuM should be on the climb again.
Sisyphus
I agree with you but sadly Mr Market appears to disagree, which is often an ominous sign.
I would have thought the divi is safe, if so the shares look a steal at present.
First quarter AUM should be up and inflows could surprise given the nature of clients and revamp of quality teams. Solid.
yes why not , we are heading that way
Having risen and consolidated at this level it's time for a new push to break the previous £1.30 up to the £1.38/40 level for the next consolidation phase. Prospects look good for first quarter AuM given previous outlook.
Solid share thats correctingly nicely from a hugely oversold position. Assets under management will have risen nicely given market gains and the corresponding stimulus for inflows into well managed portfolios should see PMI bounce back to the high £1.80's in the next six months. Solid.
I read some report that claimed funds saw big outflows in January in anticipation of recession but I always had the feeling markets had too much time to prepare while energy prices falling will give people more cash to buy back higher so up and away … bought more low 120s today.
In a time where high yields are still associated with higher risk it's good to see an incentivised seasoned set of professional fund managers steering a steady course post Covid. Solid and well worth getting on board in the troughs between the escalating waves imo.
AUM must be increasing significantly over the last quarter from Dec 31st level plus cash inflows should be comfortably rising. Solid. Topped up at this level for the next step on this upward staircase after this small consolidation.
Am doing well with this one and bt at the moment
price dropped back a little, so took the opportunity to buy a few at 128.8
Yup …. Took 136 looking for high 120s
This is performing nicely
Today's AGM should provide welcome insight into current progress, strategy and outlook here at PMI. Solid.
This should now comfortably head swiftly towards £1.50 before reconsolidating and revisiting £2.00 as market conditions favour the broad PMI exposure to risk.
Buying pressure is increasing nicely in anticipation of more positive news at the investor presentation on Feb 1st. The market and outlook is now clearly playing into the strengths of PMI management skills. It should see an escalating level of AuM as investors chase return on capital versus inflation.
Looks like start of big reversal from lows as investors seek broad-based products and look to asset managers with good growth platforms. Solid.
Goes ex div tomorrow; "Final proposed dividend of 6.3 pence per share.."
https://www.londonstockexchange.com/news-article/PMI/full-year-results/15740991
Didnt know about the tip, sliced a few at 116, as I thought it was getting away from itself.
Expected it to drop 6p after ex div, but it might not now. Still happy, was in originally at the year low 89p (traded that for profit and rebought at 93p). PMI done great for me, all since November.
you never know we could see £2 here again this year
Ex div date is friday for 6.3p. I am glad to have held here and see the sp recovering. investors money is moving back into Funds in general so we should see an improvement in FUM in Q1
The Telegraph,
Our tip of the year is ‘very cheap, very unloved and highly profitable’
Questor share tip: this fund management company is ideally placed for a bounce back when markets recover
I think you'll find PMI has been tipped today as Telegraph's share tip of the year for 2023!
A good plug in the Telegraph's Questor column probably helped.
I wonder if some of these investors are after the nice divi due on Friday (ex divi date). Certainly been a lot of trades.
This looks like a company going places IMHO.