Share Name Share Symbol Market Type Share ISIN Share Description
New Star Asset Management Group LSE:NSAM London Ordinary Share GB00B1VJF742 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.90p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unknown - - - - 5.54

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Date Time Title Posts
08/4/200909:44New Star Asset Management1,244
04/12/200819:09New Star with Charts & News1

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DateSubject
24/9/2016
09:20
New Star Asset Management Daily Update: New Star Asset Management Group is listed in the Unknown sector of the London Stock Exchange with ticker NSAM. The last closing price for New Star Asset Management was 1.90p.
New Star Asset Management Group has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 291,396,230 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of New Star Asset Management Group is £5,536,528.37.
22/1/2009
10:49
jamie62: i don't get it. more buys than sells. Henderson article souding positive and a re-statement of the de-listing process. As a result, share price collapses. i too feel unconfortable with this, but doesn't look much point in selling (i said the same about wlw - so what do i know !)
15/1/2009
10:30
treacle28: Found this out on Share Crazy this morning Knowing....good luck mate. Fallen Star Every now and then the market throws up what I usually boringly call a Debt for Equity shorting opportunity. (My esteemed mentor Evil would, in less temperate terms, no doubt term it as a screaming copper bottomed no-brainer.) It happened with Marconi, Telewest, Jarvis and several other former high flyers and in my opinion is now happening with New Star Asset Management. To profit on these situations the following ingredients are needed: 1. A willingness to short a share that has fallen at least 90% already. 2. A grasp of O level Maths. 3. A little common sense. New Star Asset Management is a fallen star: A. Mainly because it borrowed £300 million that it did not have right at the top of the market (06/07) to pay a special dividend it had not earned of £364mn (yes borrowed money to pay a dividend: these things were normal in June 2007.) When I asked at the time how this could happen I was told that it was for tax reasons It was " a scheme of arrangement to return £364 million to shareholders" Well silly me. If its esteemed bankers lent NSAM £300 million for to pay it straight out in unearned "returns" to shareholders for tax reasons it must be OK. Oh and I forgot to mention that company directors and staff sold £210 million worth of stock in March 07 at 455p per share. Good timing. B. Because it lost money on the funds it was managing. Even more than its competition. Here are some factors to consider about NSAMs present share price value (4.15p) Aberdeen Asset Management recently set a marker for the current value of funds under management by paying 0.625 % for £40 billion of funds of other peoples' money formerly "managed" by Credit Suisse. (That's 0.625 not 6.25: it paid £250mn and in paper not cash) NSAM had £23 billion and now has £12 billion and falling of funds under management owing to market losses and withdrawals. To avoid oblivion NSAM has offered 95% of its enlarged equity to its bankers to forgive its net debt of £230 million NSAM has recently announced that bidders have emerged for the equity of the company, conditional on the announced D4E being effective The suggested price that bidders may be interested in NSAM is £100 million "conditional on the restructuring taking place." That is £100 million for the whole company of which the current shares make up 5% (This would make sense as being roughly a generous 1% of FUM) Here is the O Level Maths When the Restructuring takes place NSAMs current Market cap (at 4.15p) of £11.5 million effectively represents 5% of the company's equity Therefore the company is now effectively valued at £230mn Conclusion It is at least two times overvalued for a tarnished franchise (see Aberdeen deal mentioned earlier) and will be shown to be as soon as the bids emerge. These opportunities don't come around that often and in my view should be grasped. Sell at 4.15p with a sub 2p target (at 2p its a generous £115mn market cap for the company) Lucian Miers – an infamous short seller – is the Bard of the Boleyn
13/1/2009
16:05
gazzastrip: Thanks Knowing, but it doesnt really answer the questions i have raised. Is it just me or is this one trading on a very unknown, but key issue and thus really a very speculative punt? On the one hand there are those that say the share price is now way too high suggesting the current offers are after the bank debt consolidation. Whereas there are others who claim it will be/should be anywhere between 8p and 20p, which i assume is on the basis the bank restructure does not go ahead and the whole company shares, asseets and debts are sold?
12/1/2009
12:41
llaird: what do others make of this statement in the RNS. Seems quite explicit and possibly beyond what they had to say? "There can be no assurance that any offer for the Company's ordinary shares, if forthcoming, would be at or above the level of the Company's current share price".
12/1/2009
08:11
dell314: Didn't you read this bit: .....Given the Company's current and proposed capital structure (following the completion of the Restructuring), it is not certain that any such transaction will lead to a significant return, if any, to current shareholders. There can be no assurance that any offer for the Company's ordinary shares, if forthcoming, would be at or above the level of the Company's current share price. They are talking about the possibility of zero return to current shareholders. May as well go down the casino, IMHO.. Rgds dell
05/1/2009
20:52
treacle28: Wasn't aware of this but Aberdeen were prepared to pay a substantial premium back in March 2008...if as quoted there are more than 10 bidders for New Star now, Abderdeen may snuff them out by going much higher again than the quoted bid figure of 8p. Contributed by: Martinas B. Date: 19 Mar, 2008 It was supposed to be the AIM-traded company. Nevertheless, today our attention has New Star Asset Management, which is actually traded on FTSE. Let's see what we've got here... Three days ago funds firm New Star Asset Management has rejected a takeover bid from money manager Aberdeen Asset Management. According to the Mail on Sunday newspaper's report, Aberdeen offered 200p per share for New Star, valuing the fund manager at around 470 million pounds. That's a substantial premium to the closing share price of today's trading price - 85.00p. Other groups thought to be interested in New Star include private equity groups Candover, JC Flowers and Hellman & Friedman, which already owns rival investment group Gartmore and could achieve cost savings from merging the two, the paper said. http://uk.hotstocked.com/article/0563/is-new-star-asset-management-nsam-l-still-shining.html
05/1/2009
07:35
treacle28: 'Even on most conservative basis, the think the minimum current value of New Star is around 20p per share but more realistically between 40-50p – plus it has the ability to shed costs.' In case New Star is sold to a rival, Murray says the overlap will create cost saving opportunities. 'If somebody like Jupiter or Gartmore acquire New Star, they won't need two head offices, two boards of directors or even two fund managers...The cost saving will be enormous which means that the possibility for profit from the operating costs of £102 million will have a pre-tax margin of around 70-80%. Murray also reckons New Star may de-list. He argues the five banks which paid off the company's debt for preference shares at a rate far higher than New Star's current share price, are unlikely to sell at a loss. 'If they de-list and get their house in order, and then re-list again or sell themselves when the market has picked up in 12-24 months, they will come back with much higher levels than the current share price. We think it will come back to minimum of 50 pence within a year.'
11/12/2008
14:19
crosswire: http://www.citywire.co.uk/professional/-/news/fund-news/content.aspx?ID=323598 Blue Planet backs New Star, taking 6.7% stake By Drazen Jorgic | 00:01:00 | 11 December 2008 Blue Planet Financials Income & Growth investment trust has purchased 6.7% of New Star's shares to take advantage of what it describes as a 'once in a decade' opportunity. On Friday, the trust bought 18 million New Star shares for approximately £2.8 million, at 1.6p per share. It will make the beleaguered asset manager the the trust's second largest weighting after BP Global Financials (15.5%). Blue Planet's founder Kenneth Murray says New Star's shares have been disproportionately undervalued. He said: 'We think it's a stunning opportunity. These sorts of things come once every 10 years. We are also talking about a company that's debt-free. 'Even on most conservative basis, the think the minimum current value of New Star is around 20p per share but more realistically between 40-50p – plus it has the ability to shed costs.' In case New Star is sold to a rival, Murray says the overlap will create cost saving opportunities. 'If somebody like Jupiter or Gartmore acquire New Star, they won't need two head offices, two boards of directors or even two fund managers...The cost saving will be enormous which means that the possibility for profit from the operating costs of £102 million will have a pre-tax margin of around 70-80%. Murray also reckons New Star may de-list. He argues the five banks which paid off the company's debt for preference shares at a rate far higher than New Star's current share price, are unlikely to sell at a loss. 'If they de-list and get their house in order, and then re-list again or sell themselves when the market has picked up in 12-24 months, they will come back with much higher levels than the current share price. We think it will come back to minimum of 50 pence within a year.' Besides taking a punt on New Star's future recovery, Murray is also betting the markets have seen their trough point. 'We think we've just had the nadir of the market and we think the market will rise from here.' If the market does rise, Murray is reasoning that New Star's assets under management will increase and so will their earnings. 'In that case, your profits rise sharper than your costs', he points out. Murray also believes New Star's founder, John Duffield (pictured above), will leave his position at the company. 'It's been said enough times to make you believe there's an element in truth in it', he concluded. Murray's decision will be met with astonishment in some quarters. While his claim that the company is free of debt is technically correct the firm looks set to be forced to issue its creditors with £100 million of highly costly preference shares under the debt for equity swap proposed shortly before Murray made this investment.
09/11/2008
11:26
slj: Will Gilbert catch falling New Star? Jeff Prestridge, Mail on Sunday 8 November 2008, 7:32pm They are the heavyweights of the fund management market. But while New Star Asset Management boss John Duffield often chats with Martin Gilbert, head of Aberdeen Asset Management, over lunch in central London celebrity haunt Signor Sassi, the two may become even closer. Or so said gossips among their rivals at the industry's glittering get-together in Park Lane last week. Six years ago, Gilbert, who now talks of 'carnage' in the sector, was at the centre of what became known as the split capital investment trust scandal, with MPs lambasting his lieutenant Chris Fishwick as the 'unacceptable face of the City' for his part in wiping out the investment portfolios of thousands of savers. It was Gilbert's nadir. He was forced to bring Aberdeen to heel and pull the investment house out of retail fund management. Some said Aberdeen was doomed to fail and that Gilbert would go back to his beloved Scotland for good. Meanwhile, the overweeningly confident Duffield and his recently formed investment house New Star was growing rapidly on the cult of the 'star' fund manager and was ready to benefit from Aberdeen's near-demise. In early 2003, New Star doubledits assets under management to £3.8bn after buying six key Aberdeen funds. Later that year Duffield bought another £840m of assets under management from Gilbert. It was the trigger that would ultimately see New Star floated on the London stock market, making millionaires of many of its staff, from fund managers to secretaries and receptionist Zoe Shaw, then aged 31. Yet today, while Aberdeen's star is again in the ascendant - with yacht-loving Gilbert, 53, having spent the past week in Japan talking over a potentially lucrative tieup with Mitsubishi - New Star's is all but extinguished. The talk in fund management circles - and a theme of dinner table chatter at the Investment Management Association's lavish annual bash on Wednesday at the Grosvenor House Hotel in Park Lane - is whether Gilbert will have the last laugh by making an audacious bid for 69-year-old Duffield's battered and bruised New Star. Just how battered and bruised New Star is, and therefore how vulnerable to a bid approach, will be revealed this week when it issues its latest trading statement. On Friday, financial giant Citi predicted that assets under management will have fallen 14% in the last quarter to just over £17bn. It rates New Star 'high risk', though it says 'the share price is now up with events'. Its share price has dived from just over £1 to 30p in two months. Its market capitalisation of just over £80m compares with Aberdeen's £674m. Unlike other retail investment houses, such as Jupiter, New Star has been hit hard by fund redemptions on the back of dreadful performance by flagship funds. New Star UK Growth - managed by Stephen Whittaker, who has more than 25 years' experience - has more than halved in value over the space of a year, while its Higher Income fund has fared little better. New Star has also lost key business, most notably the £1.4bn mandate to manage the assets of friendly society Family Assurance. New Star was also one of the biggest proponents of commercial property as an investment for small savers, extravagantly promoting its UK property fund on the back of fabulous gains made by the sector from 2004 to 2006. When the commercial property market peaked in mid-2007, New Star's UK fund was worth more than £2bn. Now it is worth half. New Star is also saddled with £236m of debt. It is rumoured that stock market falls mean it has had to renegotiate the terms of its loan agreements with HBOS. For Duffield a solution might be a rights issue or a part sale of New Star's business - its institutional or hedge fund operations, for example. But a sale to a rival such as Aberdeen could prove more tempting. Last week Duffield was tightlipped, other than to say business was 'very difficult' as investors continued to flee equities, property and bonds (New Star's bread and butter) to go into cash. Gilbert refused to confirm his interest in New Star but said he believed Duffield was 'keen to sell'. If a deal is done, it would mark a remarkable return to retail fund management for Gilbert. As for Duffield, as one rival chief executive told Financial Mail, it would merely act as a catalyst for him to set up a New Star mark two. 'Fund management and Duffield are intrinsically linked,' he said. 'Until death do them part.' http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=456779&in_page_id=3&in_a_source=&position=moretopstories
29/8/2008
13:47
callumross: "Today's results were below expectations and analysts remain downbeat, expecting further price declines for the asset manager. By mid January New Star shares appeared to have bottomed-out. Although its share price has ranged between 144p and 79p, today's 103p price is still 75% below the 420p peak reached at the end of November 2007. Analysts at Citigroup remain negative, retaining a "Sell" recommendation and a 70p target price. Short-sellers appear to have the same view and have maintained a short position despite share price rallies."
New Star Asset Management share price data is direct from the London Stock Exchange
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