Asset Management Investment Share Discussion Threads

[tiltonboy] 14/12/2006 13:04

oniabasta,

The figures will be out in the second week in January. Blame the delay on IFRS17.

tiltonboy

[oniabsta] 14/12/2006 12:41

Aren't the finals due about now? They were announced on the 7th Dec last year.

[badtime] 13/12/2006 20:17

City of London had a write up in the Sat Indie..the Derek Pain 'No pain no gain' section...was fairly positive as i recall

[davebowler] 13/12/2006 14:08

CLIG up again today,

on RNS re. substantially increased FUM.

[tiltonboy] 17/11/2006 12:00

ram,

That's a very interesting article and I believe re-inforces the FX valuation, not that it was in any doubt.

Tidying my desk yesterday, I came across the IC article from earlier in the year. As far as I can see, they never retracted any of the many inaccuracies(neither did the Sunday Times), and I bet they won't say what a sparkling performer it has been.

I know a number of people were unnerved by the articles. I just hope it didn't sway too many of them.

tiltonboy

[rambutan2] 17/11/2006 11:47

Fri, 17 Nov 2006

New York-based currency manager FX Concepts this week launched its newest fund, seeded by a pension fund operated by UK local authority Bedfordshire County Council.

The new Concepts Multi-Strategy Institutional Fund - GBP Shares, is designed for UK local authorities (UKLA) looking to currency as a source of uncorrelated alpha for their portfolios. It is based on the firm's existing USD-based Multi-Strategy Program, which has a 5-year track record and over USD 2.6 billion in assets. The Multi-Strategy Program provides style diversification through allocations to FX Concepts' two flagship programs, the G10-only Developed Markets Currency Program and the 34-currency Global Currency Program.

Geoff Reader, Bedfordshire's Head of Pensions and Treasury Management said: 'We are looking to diversify our portfolio by adding new sources of non-correlated alpha. FX Concepts offers a top-flight systematic investment process combined with an investment vehicle that corresponds to our needs'.

The new GBP shares will target risk of 15-16% - in line with average FTSE volatility - and a Sharpe ratio in excess of 1.0. This is in line with investor preferences, said Daniel Szor, Managing Director of FX Concepts' new London office. 'Our market research shows a preference by many UKLAs for fully funded investment in limited liability vehicles with an 'equity-like' risk profile, targeting 15-20% returns' he says.

The fund, which has a minimum investment of GBP 10 million, features monthly liquidity and a Luxembourg listing.

The establishment of FX Concepts' new UK subsidiary, FX Concepts (UK) Ltd, authorized and regulated by the Financial Services Authority (FSA) will allow the company to substantially increase its activities in the UK market as well as in Europe.

Through the European Investment Services Directive, FX Concepts (UK) Ltd. is able to conduct its activities on a cross-border basis into all European countries. In the US the firm has been registered as an investment advisor with the SEC since 1986.

Background Note: FX Concepts is a global investment management and research firm specializing in foreign exchange and interest rate risk management. The company has USD 12 billion under management in currency overlay and absolute return programs for institutional clients worldwide.

FX Concepts has extensive experience trading currencies and derivatives in both the developed and the emerging markets. Established in 1981 by its current Chairman John R. Taylor, FX Concepts is headquartered in New York with offices in London, Singapore and Sydney and representatives in Tokyo.

[glynnef] 09/11/2006 09:27

CLIG - City of London up sharply today - string of buys this week. Good for AMN.

I think the 15p rise in CLIG adds quite a lot of NAV to AMN.
According to AMN's website, AMN owns 9.45% of CLIG's 26.9m shares = 2.54m shares, each rising by 15p = about £380,000. 21.3m AMN shares = around 1.78p NAV increase per share.
GF.

[tiltonboy] 07/11/2006 22:22

Nice to see the company buying back it's own shares. In itself, the buyback adds 0.3p to the NAV.

tiltonboy

[rambutan2] 01/11/2006 12:01

re new substantial holder...

[davebowler] 30/10/2006 16:28

LONDON (AFX) - City of London Investment Group PLC said pretax profits for the first five months of its financial year rose to 2.6 mln stg from 1.6 mln, with the company adding that it is confident of meeting or exceeding market forecasts.

Funds under management totalled 2.9 bln usd, in line with forecasts,

'despite the falls in the market earlier in the year,' it said.

'City of London remains confident of meeting or exceeding the market expectations for year end for both pretax profit (6.4 mln stg) and funds under management (3.0 bln stg), subject to there being no significant market movements.

[e-mail]

[oniabsta] 11/10/2006 08:38

Jim Many thanks, have just reread the announcement, initially i thought it also meant ord's as well

[jimbox1] 11/10/2006 08:32

Nothing to worry about. The suspension is of the ZDP's and it is as expected. See the RNS of 18/9/06, which said:
"The Court Hearing of the petition for the reduction and cancellation of the
remaining ZDP Shares which were not tendered is due to take place on Wednesday,
11 October 2006 and it is expected that the listing of the ZDP Shares will be
suspended at 7.30 am on that day. The Effective Date for such cancellation is
expected to be Friday, 13 October 2006, and the record date thereof will be the
close of business on that date. Payment for ZDP Shares so cancelled, also at
199.9 pence per share, would then be made to ZDP shareholders on the register on
the record date would then be made on or around Monday, 16 October 2006."

[oniabsta] 11/10/2006 08:23

Anyone make an educated guess on the reasons for the suspension? It is not usually good news.

[glynnef] 05/10/2006 13:53

IAM is up 6% at 126p today, and AMN has a substantial holding. And it is one of the few quoted investments.

I see rambutan2 was recommending it on the IAM thread back last summer 2005 when it was around 60p . . . . . from which pointed it drifted down, then has rocketed up.

regards,
GF.

[ntv] 28/9/2006 18:30

nice tick up today ;-))

[tiltonboy] 28/9/2006 12:16

I think you will find that the IFDC holding is still very conservatively valued.

Well happy.

tiltonboy

[oniabsta] 28/9/2006 12:12

the 10k reported sell @ 87p was in fact a buy, mine! What fantastic news!!

[ursus] 28/9/2006 12:09

your heading has particular meaning today, ntv! will we end the day in low-mid 90's?

[glynnef] 28/9/2006 12:08

just beat me to it Tilton. Share price must follow by up to 10p methinks ??

GF.

[glynnef] 28/9/2006 12:01

see this one fly after the NAV statement today - 121p !

GF.

[tiltonboy] 28/9/2006 12:00

Huge uplift in NAV following revaluation of IFDC holding.

tiltonboy

[ntv] 14/9/2006 23:19

other than i guess we see bigger fluctuations in nav

[ntv] 14/9/2006 23:19

tb
does the repurchase of zeros have any affect on nav?

[tiltonboy] 14/9/2006 11:53

Glynne,

The company have received income from their investments in the last week or so, which has put the NAV up. It just shows how strong the revenue account is and augurs well for future dividends.

The Sp at IAM has also done well recently, which hasn't done any harm.

I'm hoping the company will use it's buy-back powers as soon as it is able.

I bought a few last week at 80p, and will consider buying more if the NAV stays up at these levels.

tiltonboy

[glynnef] 14/9/2006 11:43

AMN NAV today is the highest it has been for a while - 107.29p v mid price of 80p.

It does not seem to be the result of a month end revaluation, so something must be up, but I don't know what. Bought some more for my investment club earlier this week.

regards,
GF.