Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Now I know that this is probably a bit misplaced but I'm starting to get really bullish about Man now (the company lol), if we can get into performance fees and keep adding to our AUM then I don't see any reason why we can't start scaling the heights towards £2. Admittedly it'll take some to get there but given that AHL has ridden out a plane crash with a US v Russia subplot pretty well then I'm quite confident for the future!
This is your best performer??? I'd change where I got my info if I were you!! I'm hoping for a good H1 update though too in a couple of weeks, I reckon we could see a nice gentle rise over the next few weeks / months, my god we deserve it!!
Hugely although once AHL is officially "fixed" I think will be time. That said we are a bit of a people business - if a good fund manager leaves so do a big chunk of his funds, just look at Woodford and Investco. Therefore we won't get as high multiples as other businesses...
What percentage of Man's AUM is AHL now? I know before it was huge which is why it affected the price so much but since then lots of people have pulled their money and the board have been diversifying so it would be interesting to find out how much it is now...
If only!! I think we are largely in the midst of some profit taking, we've got to shake out all those who bought in at 6x/7x/8xp who are looking at some cracking profit now before we can go anywhere. I'm still going to bleat on about getting an upgrade from the analysts too!
Sometimes though the market's aren't rational and there may be bigger factors at play. The general theme was that everything dropped a bit this afternoon after the Germans released some fairly poor numbers, maybe we got caught in that? remember a lot of people will see / use Man as almost a leveraged proxy on the rest of the market...
In my opinion we will fail to break out of this 95p-117p band until the analysts start upgrading us. They famously set quite ambitious targets which are very rarely met so whilst we are sitting at the top of that most investors are lazy, look at the broker consensus, see we are at the top and shy away so we won't have the momentum to break out. That said, AHL hitting it's HWM, Numeric onboard and the GLG funds doing well producing performance fees we could very quickly rocket. Are the board still planning on distributing most performance fees back to us still??