Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. 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.
Total funds under management rose 13.4 per cent and a final dividend of 30p was proposed for the year to December 31st, preliminary results issued by Rathbone Brothers have disclosed. The company stated that the board proposed a dividend of 30p, up from 29p a year earlier, resulting in a full year dividend of 47p - a 1.0p increase compared to in 2011. The proposed dividend would be covered 1.4 times by basic earnings and 1.7 times by underlying earnings. Funds under management were up to £17.98bn from £15.85bn. The total net annual growth rate of funds under management for Rathbone Investment Management was 6.0%, down from 8.0% in the previous year. This comprised £0.48bn of acquired inflows from new investment teams, the private client acquisitions of R.M. Walkden & Co. and AIB Jersey as well as £0.44bn of net organic growth.
Rathbose Brothers: Numis upgrades to hold with a target price of 1200p.
Shares in wealth management outfit Rathbone Brothers have been placed at 1,235p a pop with institutional investors, allowing the firm to top up its war-chest. The company raised £24.7m (gross) through the issue of 2m shares, half a million more than it was targeting when it announced the share placing first thing on Wednesday morning. The group is hitting the acquisition trail again and so it needs the money. Its first purchase is the UK private client investment management business of Taylor Young Investment Management (TYIM). TYIM's management team will soon be wearing Rathbone colours after the latter agreed to pay up to £10m in cash for the business, although the consideration could rise to £15m by November 2014 depending on the performance of funds currently being managed by TYIM. Rathbones expects the transaction to be earnings neutral in 2013 prior to amortisation, and should start contributing to earnings from 2014 onwards. As at November 2nd, TYIM had £337m of funds under management (FUM), and Rathbones has calculated that adding those funds to its own pot would increase FUM by 2.0% to £17.69bn. Andy Pomfret, Chief Executive of Rathbone Brothers, said management expects to see more acquisition opportunities in the private client industry in the next few years.
Wealth manager Rathbone Brothers has provided a solid quarterly trading update on Wednesday with funds under management (FuM) slightly up on the same period in the prior year. Total FuM for the nine months to September 30th were £17.35bn (2011: £15.05bn), with net operating income increasing to £116m (2011: £108.7m) for the period. Underlying net operating income of £109.4m in Rathbone Investment Management for the nine months ended September 30th was 7.9% higher than 2011. Net interest income of £7.6m in the first nine months of 2012 was in line with the same period in 2011. The company commented: "Pressure on interest margins is expected to continue into 2013". "We expect markets to remain challenging for the remainder of 2012 reflecting a weak outlook for global growth and continuing nervousness over the future of the eurozone," said Chief Executive Officer Andy Pomfret. "Despite this, we will continue to invest and grow as a leading provider of high-quality personalised discretionary investment management services in the post RDR world."
Investment firm Rathbone Brothers has acquired just under one-fifth of both Vision Independent Financial Planning and its sister company, Castle Investment Solutions. Rathbone Brothers has paid £2m in cash for a 19.9% stake in the pair. The stakes have been purchased from the founders of Vision and Castle, namely Roger Edwards and Paul Sweaton, and their spouses. Rathbone Brothers has the option to take total ownership of the two businesses in 2015 for a mixture of cash and Rathbone shares, with a further potential deferred element payable at the start of 2018. If Rathbone chooses not to exercise this option, the founders of the acquired businesses have the right to buy back the stakes they sold to Rathbones for £2m. Vision is an independent specialist financial advice network focusing on high net worth private clients. Rathbone Investment Management already has an existing discretionary fund management panel relationship with Vision. As for Castle, it operates as a sister company to Vision, providing it with certain administrative services.
Rathbone Brothers Sell 02-Aug-12 £64,500.00 Richard Loader 5,000 @ 1,290.00p
Richard Smeeton, the Director of Rathbone Brothers' investment management business in London and Jersey, traded in 10,000 shares on the same day the firm posted decline in profits in the first half of the year. Smeeton, who also manages a large number of client portfolios, pocketed £130,900 from the transaction, having sold the shares at 1,309.00p each. He now holds 130,653 shares in the company, equal to just under 0.3% of the issued share capital. Rathbone, which described the performance in the half year as "resilient", reported a 3.4% decline in pre-tax profit to £19.9m compared to £20.6m in 2011. Underlying profit before tax decreased 4.1% from £24.2m to £23.2m.
Probably drunk all the pubs dry
Outlook Rathbones is cautiously optimistic about the prospects for 2012 with the UK equity market ending 2011 on a more positive note. There is no doubt that the uncertainties over Europe persist but this is balanced by indications that the economic environment is showing small signs of improvement, particularly in the USA. Rathbones will continue investing to consolidate its position as a leading provider of high-quality, personalised discretionary investment management services. Notice of Results Rathbones will issue its preliminary statement of annual results for the year ended 31 December 2011 on Tuesday 21 February 2012. Results are anticipated to be in line with expectations.
Trading Update Rathbone Brothers Plc ("Rathbones"), a leading provider of discretionary fund management and wealth management services for private investors, charities and trustees, announces that: Total funds under management as at 31 December 2011 were £15.85 billion, up 1.4% from £15.63 billion as at 31 December 2010. Funds managed by Rathbone Investment Management Limited were £14.76 billion as at 31 December 2011, up 1.2% from £14.59 billion as at 31 December 2010. This compares to a 5.6% decrease in the FTSE 100 Index and a 2.8% decrease in the FTSE APCIMS Balanced Index over the same period. The underlying annualised rate of net organic growth in funds under management in Rathbone Investment Management Limited was 5.4% in the year ended 31 December 2011 (2010: 5.3%). Acquired inflows of funds under management into Rathbone Investment Management Limited totalled £0.31 billion in the year (2010: £0.60 billion) which when added to net organic growth represents a net annual growth rate of 7.5% (2010: 10.2%). The FTSE 100 Index ended 2011 at 5572 (2010: 5900) making the average index 5663 on quarter end billing dates in 2011 (2010: 5528). Cash held in client portfolios was £0.9 billion as at 31 December 2011 (2010: £0.8 billion). Funds managed by Rathbone Unit Trust Management Limited rose to £1.09 billion as at 31 December 2011 from £1.04 billion as at 31 December 2010, an increase of 4.8%. Total net fund inflows were positive each month in 2011, totalling £35 million in the fourth quarter of 2011 and £97 million for the full year.
http://www.investegate.co.uk/Article.aspx?id=20120110070017H6149
RBS reiterates hold on Rathbone Brothers, target price cut from 1200p to 1117p
HER BE PARTYING TONIGHT