Firering Strategic Minerals: From explorer to producer. Watch the video here.
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The website is the place to start... Also read the posts that Lego girl posted this week ... Spot on! Incidentally... You won't be impressed by the website. That is the one thing that suffered at the hands of LLOY. It was basically a posher version of the intelligent finance website ... And as I've already said, LLOY didn't care much what happened to that (brand was being sold as part of Europrat dictat) ... And so it got no investment. It's very tired and needs a big refresh... But you'll get an idea of the product etc. Know what you mean about waiting for some AIM stocks to pull weight... I'll be topping up here again over the course of the year... miss G IMHO, DYOR... :-)))
Depends Mr TO on your definition of long term. It's done very well in the past year for instance and I am setting a target of 25 -30% for this year. It is long term for me though... I can fully imagine this (and LLOY) providing the "financial" balance to my star portfolio for some years to come. Everyone needs a bit of stability to counter the joys of AIM. It's a great business with a very loyal and increasing (wealthy) customer base.... Miss G AIMHO, did all my research, cat ate my homework .... :-)))
Agree with you Mr Hurricane... Though in reality LLOY never had any input to the STJ strategy ... They didn't know what to do with it as it was purely a white label for The Intelligent Finance brand and their offset mortgage proposition ... Which frankly neither LLOY or HBoS before them understood (or could make profitable via the predominant IFA channel). Interestingly, LLOY wanted to offload some years ago... 2009 I recall... But it was David Bellamy that was concerned about the impact / instability if SP.... Miss G :-)))
I am pleased I was able to be the first to announce the official news of STJ may be joining the FTSE100 before general release. Free from Lloyds and in the FTSE100 will enable this company to fulfill its potential and achieve rapid growth over the coming years
LONDON, March 5 (Reuters) - Wealth manager St. James's Place and housebuilder Barratt Developments will be promoted to the blue-chip index of top British companies from the FTSE 250 index later this month, the FTSE Group said on Wednesday. The two firms, whose market capitalisation has surged after a sharp share rally in the past months, will replace food ingredients company Tate & Lyle and engineering firm Amec in the FTSE 100 index. The changes will be effective from March 24, the group said in a statement. A promotion to the top index can fuel further demand for a company's shares from funds that track the FTSE 100 or use it as their benchmark, analysts said. Newly independent St. James's Place, freed from the strategic shackles of majority ownership by Lloyds Banking Group, which sold out in late 2013, has impressed investors with its plans including the first acquisition. That helped shares in the company, which manages money for wealthy individuals and families, rise 73 percent in 2013 and more than 30 percent since the Dec. 13 disposal by Lloyds to a lifetime high of 895.50 pence on Tuesday. Around 9 percent of that performance has come since St. James's said on Feb. 25 that it planned to buy Asia-focused Henley Group, an advisory business with around 400 million pounds under management and 4,000 expatriate clients in Hong Kong, Singapore and Shanghai.
Thanks Legogirl... A very interesting read...! Thanks for posting it. miss g :-))
Apparently Im not allowed to post the website link? Its easy enough to search for though.
Information comes from this source.... ***************************/how-do-stocks-join-and-leave-ftse-100-index And heres the relevant bit.... Quarterly reviews This is the most common way for changes to be lagged. The committee that oversees the various FTSE indices meets quarterly on the Wednesday after the first Friday in March, June, September and December. Constituent changes are then implemented on the next trading day following the expiry of the LIFFE futures and options contracts, which normally takes place on the third Friday of the same month. The rankings of constituents by value are calculated using close of business prices on the day before the review, and companies must have a minimum trading record of 20 days at the review. A company is promoted to the FTSE 100 index if it rises to 90th or above when the eligible securities are ranked by market value It is relegated if it falls to 111th or below. Where there are more companies qualify to be inserted in an index than those qualifying to be deleted, the current lowest ranking constituents are relegated to ensure there are always 100 companies in the index. If there are more qualifiers for relegation, the highest ranking companies that are not already in the index will be promoted to match the numbers. The six highest ranking non-constituents of the FTSE 100 Index at the time of the periodic review are known as the reserve list, and are used in the event that one or more constituents are deleted from the FTSE 100 during the period up to the next quarterly review.
Dont quote me on those dates, my memory may be faulty, but as I recall, the review is on the wednesday following the first friday in march, and the transfer is on the 2nd monday after the review or something like that.
That was a large part of my reasoning for buying, as well as the companies continued excellent performance. I checked some Market caps a few days ago, STJ was by far the highest in the FTSE250, and has a greater marketcap than approximately 15 companies in the FTSE100. If this situation is still true on the 12th, then STJ will indeed go the FTSE100 (about 2 weeks later as I recall). Thanks for your reply by the way. I kinda figured that was the case. Trust me to buy the day before the drop, heh.
this share may join FTSE100 when the review is made in the next few weeks
market sentiment and profit taking
Is this drop just because of whats happening in Ukraine????
IC VIEW: But that's not so grim given St James's impressive sales growth, backed-up by a its high-quality distribution network. Yet the shares, trading on under 1.3 times Numis Securities' 631p a share estimate of embedded value for 2014 (net asset value, plus the profit stream from life policies) aren't pricey for the sector. That's in line with Prudential's (PRU) share rating and cheap compared to that of Standard Life and Legal & General - their shares trade on about twice 2014's forecast embedded value. With life and investment conditions improving, and given St James's robust growth profile, expect the shares to rerate. Buy.
The company's impressive sales figures certainly support that view. For instance, in 2013 St James's Place saw its new business sales on an annual premium equivalent (APE) basis (a measure of gross sales) rise 20 per cent to £762.9m. In sharp contrast, Prudential's UK APE new business sales in the first nine months of the year slumped 12 per cent compared to 2012's comparative period. Sales of St James's proprietary investment product was especially robust and soared 35 per cent in 2013, although pension new business sales were flat reflecting regulatory changes that cut the lifetime allowance and annual contribution limits for pension tax relief. The asset management arm is growing strongly, too. After a £4.3bn net fund inflow during the year, assets under management rose 27 per cent in the year to £44.3bn. Overall, St James's grew underlying cash profit 67 per cent in 2013 to £139.9m. "The SJP engine is now purring nicely," believes Mr Flanagan. The ownership structure is no longer a worry, either. For years, uncertainty over Lloyds ' (LLOY) strategic attitude towards the group - in the light of the near 60 per cent stake in St James's that it inherited through 2008's acquisition of HBOS - had dragged on sentiment. But Lloyds sold virtually all of its shares through several institutional placings during the course of 2013, which has left St James's with a far more conventional shareholder structure. No single shareholder now owns more than 6 per cent of St James's, for instance, and the top five institutional shareholders own just over a quarter of the company. Still, with a 2014 prospective yield of under 3 per cent, investors will certainly find better income prospects elsewhere in the life assurance sector. For instance, shares in Aviva (AV.) offer a 2014 prospective yield of well over 3 per cent, while those of Legal & General (LGEN) and Standard Life (SL.) yield over 4 per cent based on 2014's forecast payouts.
It's sa good time to be a life assurer. An improving economic backdrop will reduce pressure on consumers and, as rating agency Moody's points out, that will "free up expenditure on discretionary items such as life insurance". Better economic conditions are also likely to drive tighter monetary policy and the prospect of gradually increasing interest rates is good news, too. Specifically, it cuts "the risk of yields falling below the levels of policyholders' guarantees," notes Moody's. And an improving equity market backdrop will help support life assurers' investment portfolios. And St James's Place (STJ) looks especially well-placed to benefit, leaving its shares too modestly rated compared with peers. St James's Place is focused on a wealthier segment of the UK life and pensions market than is usually the case at its life assurance peers - average holdings per customer, for example, stand at £104,000. Moreover, its distribution network - the St James's Place Partnership - is a unique asset within the life sector. The partnership comprises well-qualified but self-employed independent financial advisers (IFAs), and they're able to offer a more personalised service than is usually available from the sales staff of more conventional life assurers. Moreover, partnership numbers have been boosted by 2012's introduction of the Retail Distribution Review (RDR) - which outlawed commission-based product sales. This put plenty of IFAs out of work, many of whom promptly took their talents to St James's - during 2013 partnership numbers rose by 9.5 per cent to 1,958. "SJP [St James Place Capital] has emerged from RDR in great shape, with a compelling proposition for battle-weary advisers and a product offering which appeals to its high-quality customer base," notes analyst Eamonn Flanagan at broker Shore capital. That superior service offering is, according to chief executive David Bellamy, "one of the major contributors to the recent growth of the business".
No... What's that about legogirl? Interesting. Miss G :-))
Did I mention the positive IC review made this last week? Also a divi due on 09/04/14 will rise the sp up till that date at least.
I just love this Bank... We'll be through 900 soon! miss G :-)))
I know... What a wee belter!! Clever us.... :-)))