Member Info for Jatw

A CT tax rise to 25%.....in two years time.....should be enough time to relocate to HK.

Odd to put a 200p valuation on Jackson when Pru only valued it at $5bn when it sold 11% last year which is more like 125p for the remaining stake.

Today’s budget should contain some green funding measures that can only help companies like SMS......waiting to hear what RS does.

Deal looks a good one.....you have to expect much of the revenue will fall straight through to the bottom line. If they get 50% margin, that s about 5x earnings.
Good to see they do still win meter work...they play at the smaller end of the market where there have been quite a few failures..

I have looked up the ADS price which is 30% off the 2017 peak of 55USD.
As Pru is now a dollar denominated stock, this is perhaps more relevant to the market view of Pru
...Pru needs $ investors, most likely through the HK$ peg or other Asian $ investors.

Apologies to those who have their trades to hand to prove me wrong....I was relying on HL and Yahoo Finance charts. I did not appreciate they had adjusted historic values for the MNG split.

Anyway.....results day tomorrow. Maybe they have worked out how to find the $3bn they think they need without issuing new discounted equity.

MNG needs to show growth beyond market movement.
UK purchase of ascentric starts to build abetter wealth management presence in UK.
But asset management fees are under pressure so NCCF will be important and cost controls.
Global asset management and prufund to Europe were growth strategies.....let’s see how they are doing with those objectives.

Whatever the analyst targets are, we should note that the SP is close to an all time high.

It was briefly around 1700, but that included MNG and as that floated around 220, it is arguably at new highs already.

Hoping for good news tomorrow and further rises to come.
If the chancellor raises corporation tax tomorrow, the end is nigh for Pru and StandardChrtered as UK entities.....Pru should move to HK domicile

The dividend depends on capital generation....perhaps more than profits in the short term (3 yrs).
The annuity book and WP transfers will pay the debt down and dividends while the asset management business is reshaped for lower fees.
I have no doubt they can pay dividends at this level, unless there is a severe correction. So I am expecting the SP to rise and yield fall from here.
In terms of share price recovery from last years precipitous drops, wealth managers have done best (now slightly up), followed by insurers (still 10% down) and asset managers bring up the rear 20-30% down. It seems clear the market is valuing WM earnings higher than AM earnings, because they are stickier and higher margin, with AM fees under pressure.

The 3m chart is one of the best I can remember.
The force of momentum is with this now......good news on the capital front will see this continue to move up. IMO 150 is achievable.....we are likely to only see 200 in the next couple of years with a bid.
Happy to hold and see them grow in value.

One thing is for sure....10% is not a sustainable yield and is something of an anomaly

Either the dividend can be maintained in which case the SP should rise and the reliable income yield reduce to more normal levels

Or the dividend is not safe and there will be a correction in the SP while the market readjusts..

Either way a 6% yield in the medium to long term is more realistic.

Hope it will be the former option......and a 300p share price.

Nothing specific but this is sensitive to interest rates which are rising and deflate liabilities, house prices because of LTM NNEG capital requirements. So a likely extension of the stamp duty concession that would help to sustain house prices in the short term is a positive.
Could be many other things.....look at the sensitivities published in their accounts to understand what effect different financial events have.

SLA fits the bill for me. or buy some operations in PE hands which may be easier without a public bid and all that entails.

The sales seem to be done at decent prices which should mean the sum of the parts is greater than the recent mcap.
The questions is what todo with the cash....I would rather it were invested and used to raise the annual dividend than paid to shareholders as a one off dividend - once capital is gone from the business it can’t come back easily without hurt..
Future earnings are now reduced although capital position may be materially enhanced. Time to buy UK bolt ons while prices are still low. Aviva investors is in need of a revamp please buy a decent asset manager and a wealth management platform, eg INteractive investor.

DT22 just lucky on that occasion. I don’t usually comment with numbers as that is a hostage to fortune, but in current markets where there is an impulse to mark down the price it is often overdone.
I have a lot of dollar earners and they are generally down as the exchange rate has moved against them......Pru has not experienced that in the same way, so it would appear the market is moving Pru up in quite a significant headwind.....as a long term holder and believer in the Asian middle class growth story I will be invested for some time...

The headlines were known at the trading update....the more detailed text is quite balanced but contains a number of cautious / concerning statements that counter what appears to be generally good news
Eg price cuts, competitor products, soft comparators, delays to mirataz in Europe.
These imply these may be better than expected but t don’t expect them to continue.
Also £ strengthening is worsening the £ results as there is a relatively small UK business compared to growth in global operations. However currencies rise and fall, the business is growing well at constant exchange rates.

IMO this represents a buying opportunity- which seems to be coming through the trades today with 2xbuy over sells at 9am

Thinker, keep reinvesting dividends and the returns will soon go positive.....compound interest will do a lot of work for your son.
Barring a revolution you can put this one away and rest easy.

Today’s announcement about Lynparza exceeded superior performance bound is why we are investing here.
Great new products bringing huge patient benefits.

The news about lynparza exceeding outperformance criteria early is great news for AZ and MErck.

It is part of the reason why we should be excited about the future prospects of AZ. Creating great products that benefit patients......and then reward staff, shareholders and the tax man.

Should have been more bullish.....nearly achieved 1400p
What was the fuss about Jackson?