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Goldman Sachs cuts Schroders price target to 2,620 (2,680) pence - 'sell'
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Goldman Sachs cuts Abrdn price target to 180 (190) pence - 'neutral'
How can they put a neutral call on Abrdn, an asset manager that's struggling with huge outflows and put a sell call on Schroders, a well run asset manager that's grew AUM from H1'21 £734.1bn to H1'22 £773.4bn (I think part of the growth in AUM was Schroders' 75% stake acquisition of Greencoat Capital.)
I understand in this current market environment, why Schroders isn't a buy as inevitably AUM will be down when they report results next year but why do Goldman Sachs favour Abrdn over Schroders?
from 2.975291% to 3.110990%
It's crazy how Arix Bioscience isn't trading in the range of 130p - 140p, considering Arix has 100p per share in cash alone. You nearly get a free ride on the portfolio.
There's always gonna be a large discount to NAV because of how risky PE and listed biotech companies are, but this wide discount is unjustified.
Financial Highlights
Net Asset Value of £228 million (31 December 2021: £255 million); 176p per share (31 December 2021: 198p)
Net downward portfolio movement of £25.0 million in the period, primarily driven by the reduction in the value of our core public company holdings, which have been affected by the significant decline in the public biotech markets
Gross Portfolio Value of £93.9 million (31 December 2021: £118.2 million)
Healthy cash position at period-end of £131.1 million (31 December 2021: £134.2 million)
"So, tomorrow it is then ...."
And the RNS will be released at the very last minute.
Lloyds just bought Embark Group last year for £400m and are also building their Landlord business, Citra. I don't see them being contenders to purchase Quilter, but who knows? Anything can happen.
My guess:
7p per share + £1bn share buyback
(Probably gonna be nowhere near this :))
26-Jul-22 15:09:09 40.00 303,847 Buy* 39.00 40.00 121.54k O
Nice to see a big buy.
0.79
25-Jul-22 16:02:33 39.75 100,000 Unknown* 39.00 40.00 39.75k O
25-Jul-22 15:44:04 39.75 102,333 Unknown* 39.00 40.00 40.68k O
25-Jul-22 16:38:36 39.50 2,202,200 Unknown* 39.00 40.00 869.87k O
The two 100,000 shares trades are, I assume, buys. Don't know about the 2 million share trade.
https://www.hsbc.com/investors/investing-in-hsbc/financial-calendar
1st August
I see LSE board doesn’t allow emotes.
Hopefully the SP will ?? to the ??
I think commodities only have one way to go and that's UP. Natural Gas (biggest holding in this ETF) is unnaturally low right now considering the continued war in Ukraine.
Second interim dividends is 50p per share.
Overall the results look good. The current macro environment is not suitable for asset managers but Liontrust should see through it. Wonder how the markets are going to react.
Results:
· Adjusted profit before tax of £96.6 million (2021: £59.0 million1), an increase of 64%.
· Adjusted diluted earnings per share of 127.6 pence per share (2021: 80.1 pence per share1), an increase of 59%.
· Profit before tax of £79.3 million (2021: £34.9 million), an increase of 127%, see note 5 below for a reconciliation to Adjusted profit before tax.
· Revenues (Gross Profit) of £231 million (2021: £164 million), an increase of 41%, includes £12.6 million of performance fee revenues (2021: £13.7 million)
Some nice buying activity before closing.
I'm curious to as why Caledonia Investment Trust team has decided to put 7IM up for sale. The trust already has excessive liquidity and will possibly be paying a special dividend to alleviate said problem. Maybe they see a potential acquisition on the horizon and need more funds to get a deal through?
(Alliance News) - Caledonia Investments PLC has appointed investment bank Evercore Partners to oversee the sale of its boutique fund manager 7IM for around GBP400 million, Sky News reported on Thursday.
According to sources, the FTSE 250 listed investment trust is planning to launch an auction of 7IM in the autumn, although there the possibility that it could be delayed if market conditions remain unattractive.
In February, Sky News reported that Caledonia Investments had rejected a GBP300 million offer from asset manager Brooks Macdonald for the business.
Caledonia has owned 7IM for seven years, after acquiring the company in 2015 for GBP100 million.
https://news.sky.com/story/caledonia-prepares-400m-auction-of-investment-manager-7im-12635131
Shares in Caledonia Investments closed 3.9% lower at 3,625.00 pence on Thursday in London.