The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
<img alt="ADVFN PLC" src="https://pbs.twimg.com/media/DhktA_KX0AESTXD.jpg" border="0">
hTTps://www.retailgazette.co.uk/blog/2018/07/prettylittlething-suspends-next-day-delivery-due-overwhelming-demand/
13.5p Target Price http://tavistockinvestments.com/wp-content/uploads/2016/03/WHI_Note-April16.pdf
hTTp://www.investegate.co.uk/tavistock-investment--tavi-/rns/acquisition--share-subscription-and-debt-facility/201603210700076363S/ This transaction also signals a significant milestone for Tavistock as we move into healthy profitability at Group level
Tavistock CEO credits 'effective business model' for rapid share growth http://tavistock-investments.one49design.netdna-cdn.com/wp-content/uploads/2015/07/Tavistock-CEO-credits-effective-business-model-for-rapid-growth.pdf Tavistock CEO credits 'effective business model' for rapid share growth Karen Gilchrist Tavistock Investments’ share price increased significantly this month as awareness of its "highly effective business model" continues to grow. Between 2nd and 22nd July, Tavistock's share prices rose from 3.3p to 5.58p. Speaking to thewealthnet, chief executive of the AIM listed firm, Brian Raven, explained that recent organic and acquisitional growth had enabled the firm to offer its "professional investment standards" and "competitive prices" to a wider audience of retail clients. Tavistock's business model focuses on two primary areas, Mr Raven explained: the provision of advice; and, as of October 2014 when Tavistock Wealth was launched, the provision of investment management services. The latter provides what Tavistock has termed a Centralised Investment Proposition (CIP) for the clients of advisers. “The smarts of the model are twofold: firstly, by integrating those two services we can make a proportion of the business more profitable and; secondly, both the advice business and the investment management business are rapidly scalable. The advice business is scalable because all of the advisers are self-employed. So while we do have to have a central body to ensure all our advisers are compliant, it’s not a massive challenge to go from 270 advisers, where we are, to say 500, where we’d like to be. “On the investment management side, because we don’t provide a bespoke service, we’re a discretionary manager, we have a range of model portfolios across six risk ratings – which cover 90 percent of the market in terms of attitude to risk – we can as easily run £2 billion as we can £200 million. Already this year Tavistock has been putting this mantra into practice. In the past couple of months it has confirmed the acquisition of a proportion of assets from Cornerstone Asset Holdings Limited (see thewealthnet 1/04/2015) and the total acquisition of Duchy IFA based in the West Country (see thewealthnet 6/05/2015). In January it undertook its most significant acquisition: Standard Financial Group (see thewealthnet 20/01/2015). This transaction introduced a further 236 advisers to the firm, bringing its total number of advisers to 300 advising on approximately £3 billion worth of assets. This, Mr Raven said, has been the underlying key to Tavistock’s success: “I think the price has gone up because we are talking to an ever-increasing audience, both inside the business and out, and the simple fact of talking to 236 new advisers about what we do and our model means that word spreads and people are becom
Late buy shown up which actually took place @ 14.40:30 Looks like limited free float, hence poor liquidity
hTTp://www.investegate.co.uk/minco-plc--mio-/rns/minco-drilling-at-buchans--newfoundland--canada/201504161000014139K/ "Drilling by Minco in 2014 returned several impressive intersections"
http://www.investegate.co.uk/tavistock-investment--tavi-/rns/change-of-accounting-reference-date/201502170700180349F/ Results are either this week or next....
Big premium to buy 1.5k worth of stock.... hmmm
for 500k of stock.... nice sign :)
Performance fee boom: price target increased to 190p Price target increased 65% to 190p. Strong performance fee generation, accretive acquisitions, low tax rates, ongoing cost control and likely share buybacks prompt a 63% increase to both our 2014 and 2015 EPS forecasts. • We make material increases to our forecasts primarily because of strong AHL performance. The result is to increase our 2014 and 2015 EPS forecasts by over 60% each. Price target increased 65% to 190p as a result of higher forecasts. • Correlation to AHL remains the key risk in our opinion. We continue to believe that a sustained downturn in AHL performance poses the greatest risk to Man’s share price performance. • Maintain Sector Perform. In the near term, we believe that the risk remains to the upside as consensus plays catch-up and Man looks set to report strong results
hTTps://www.man.com/GB/shareholder-summary-performance AHL Diversified Programme1 Estimate 23 Jan 2015 1.5915 UP 1.8 % IN A SINGLE DAY..... WTFFFFF!!! Alpha +1.3% Evolution +1.4% Dimension +0.6% MAN GLG Europe Plus Strategy +1.9% Need i say more....
hTTp://www.standard.co.uk/business/markets/jim-armitage-the-hedge-funds-who-made-a-killing-betting-against-oil-9995827.html?origin=internalSearch Hedge-fund tycoons aren’t known for their shy, retiring manner. So it was that, when Zach Schreiber told investors eight months ago that the oil price was about to collapse, he declared: “If you are long, I’m sorry for you,” before slapping a slide up on his PowerPoint showing a car full of clowns. Being “long” on oil — in other words, having a bet that the price would rise — has proved the most disastrous bet since sub-prime mortgages. Schreiber’s hunch that he should bet on a fall in crude prices made his fund $1 billion (£659.7 million) and counting. The names of other big winners are now starting to emerge. Word in Mayfair is that the chaps at Man Group’s AHL Diversified fund have been quietly making out like bandits on the collapsing price of crude. Sandy Rattray, who took a double-first from Cambridge, has overseen a strategy there that’s pulled in hundreds of millions of dollars for the fund, largely due to the oil-price plunge. The ski fanatic (ex-Goldman Sachs, of course) would defer credit to the genius of AHL’s “black box” — a secret algorithm that triggers automatic trades according to trends in the markets. But these black boxes are still run by humans, albeit the highly intelligent type you find in the kitchen at parties. The AHL black box took a short position on oil after spotting price patterns in the markets last summer. By October, the move had started making a real killing. The Diversified fund, which benefited from a bunch of other market positions too, gained 34% last year and is already up another 5% in 2015. Similar trend-spotting funds down Mayfair’s hedge-fund alley have been hitting paydirt, too. Last night, within hours of each other, the boss of Opec, Abdalla El-Badri, told Davos oil prices would begin recovering within a month, while BP head Bob Dudley predicted that they’d stay low for three years. My bet’s with the lanky American. But what I’d give to know exactly what Rattray’s black box reckons. The human factor While the black-box funds are brilliant at spotting patterns, they can be pretty hopeless when homo sapiens intervene. So it was that many took a bath when the Swiss National Bank whipped away the franc’s cap on the euro last week. Thursday's action by the European Central Bank could see some hedge-fund algorithms lose the plot. For, as one hedgie explains, algorithms are great at spotting what should happen, but when it comes to predicting politics, humans win every time.
http://www.mincoplc.com/fileadmin/user_upload/minco_news/2014/q3mda.pdf At September 30, 2014, Minco held mineral properties with a book value of $13,855,000.
Man Group PLC (EMG:LSE): Last: 121.30, up 2 (+1.68%), High: 124.00, Low: 120.40, Volume: 4.56m BE Good rally yesterday, same again today. BE Reason's sort-of dull though. BE BE That's the NAV on AHL's Bermuda, Guernsey and Dublin lines, now above high water mark. PM ok... BE Panmure upgrades in response. BE  AHL funds are returning much better investment performances this year than has been the case for several years which have been distorted by quantitative easing. Assuming that markets are gradually normalising we anticipate higher performance fees. AHL funds are delivering double digit returns and are exceeding their high water marks. Man has also acquired another $15.7bn (pro-forma) AUM, principally in Numeric (completed in September), which is a significant addition to its quant offering. BE  We estimate performance fees for FY14 of $240m, implying $140m in the second half on top of the £101m in H1, versus $180m previously. Consensus currently is around $200m. On the back of this, we have revised our earnings estimates as follows: FY14 EPS 15.2c (from 14.0c) +9%, FY15 17.0c (from 14.5c) +17%, and FY16 18.0c (from 15c) +20%. We are now above the consensus EPS of 12c for FY14 and 15c for FY15. BE  The shares are trading on 10.9x FY15 December revised EPS and yield 4.6%.  We have lifted our price target to 145p from 125p previously to reflect the higher earnings and improved outlook for AHL. We have upgraded our recommendation to a Buy from Hold. They are due to report Q3 IMS on 16th October.
http://europe.aviatelive.com/man-group-stay-long/ For self-help and limited macro exposures vs. the broader market, we note Man Group has posted reasonable results in AHL of late, no doubt helped by strong currency trends and the convergence of yields in the fixed income markets.
http://www.aviatelive.com/trader-watch-man-group-the-worst-performing-short-2/ Trader watch: Man Group, the worst performing short… The all important AHL fund rose another 1.3% last week taking its YTD performance to 12.7%. That’s quite impressive, especially in the face of the jump in Vol after the Ukraine issue. http://www.analystratings.net/stocks/LON/EMG/ RBC - Sector Perform - Price raised from GBX 105 -> GBX 120
https://www.man.com/GB/Download?guid=7fe61c06-a026-499b-a474-2f7677f28085&culture=en-GB Upto $1.2417 (+0.8%) from yesterday - that's why it's flying
Up another 0.1%. Today should also be a great day for their fund :) https://www.man.com/GB/Download?guid=7fe61c06-a026-499b-a474-2f7677f28085&culture=en-GB