Aberdeen Asset Management Share Discussion Threads

[kingfast] 01/5/2007 11:32

Rabbrooks, excuse my ignorance, what £50 mil payment was that?

[maiseymouse] 01/5/2007 10:14

some support from abn

[rabbrooks] 01/5/2007 10:04

No mention of the £50 million payment which would seem to be a bit of a disaster in thew above announcements. The company's cash position is not all that healthy as a result. Amazing that this small detail is of no consequence to the commentators.

[piedro] 01/5/2007 08:57

Hectorp,

The market was expecting pretax profits of £45.1m ie., an increase of 22%.

[hectorp] 01/5/2007 08:51

ADN down 4% at the moment but results look excellent. I'll hold.

[hectorp] 01/5/2007 08:50

Adds detail, background, CEO quote)

LONDON (Thomson Financial) - UK investment manager Aberdeen Asset Management PLC reported an 18.5 pct increase in first-half profit, buoyed by strong inflows of new client money and a robust investment performance.

Aberdeen said pretax profit before one-off items for the six months to March 31, 2007 came in at 43.6 mln stg, up from 36.8 mln stg in the same period a year earlier.

The improvement was driven mainly by net new business of 7.6 bln stg, up sharply from 3.6 bln stg a year earlier, and a new record for any six-month period. That helped lift total assets under management to 80.4 bln stg as of March 31, a 9.8 pct increase compared with the end of December.

Aberdeen said it has now finished integrating the UK operations of Deutsche Asset Management, which it acquired two years ago for 265 mln stg. It added that it expects its 61 mln stg purchase of DeAM's Australian fixed income businesses, announced in March, to complete by July 1.

'Aberdeen is increasingly diverse in terms of its geography, products and its highly talented staff. Looking ahead, this greater breadth and scale gives us considerable confidence in the future, whatever may occur in global financial markets,' chief executive Martin Gilbert said in a statement.

Aberdeen's first-half profits increase comes despite a sharp sell-off that hit global equity markets in late February.

The company is paying an interim dividend of 2.6 pence per share, up from 2 pence per share a year earlier.

Aberdeen shares closed at 220 pence yesterday, giving the group a market value of about 1.4 bln stg.

[piedro] 30/4/2007 10:37

26/04/07 - AEGON UK increased their holdings by 1,000,000 to 32,256,880, (5.13%), ahead of Tuesday's interim results.

[hectorp] 25/4/2007 22:53

Morgan Stanley eh ! look foward to the extra 30p per share!

[piedro] 25/4/2007 13:30

Morgan Stanley (NYSE: MS - news) has upgraded Clipper Windpower (LSE: CWP.L - news) to overweight from equal-weight (raising the price target to 920p from 650p) and reiterates overweight on Aberdeen Asset Management (LSE: ADN.L - news) (raising the price target to 255p from 225p).

[hectorp] 24/4/2007 19:38

ADN has never had such a good long consolidation spell as 3-4 weeks and is ready to move on up. But of course a retracement is still possible and if so would be dependent on a falling world stockmaret situation of a few percent. Now is this a sell in May year yet again.. well it may be but that is sooo predicable.

[saucepan] 10/4/2007 12:48

Continuing to look very strong, and still not yet overbought on RSI or MACD.

[hectorp] 06/4/2007 18:27

Thank you Iroll, very interesting to learn the background to the company. I for one have been impressed by the management which is one of a few reasons I bought in last October. Now if the markets simply trundle along puting on 6-7% a year, we will do very well. ADN weould considerably outperform that. But if world markets go into reverse, well we are all in another boat. SO far China etc etc are keeping us afloat though not very comfortable this year.

[saucepan] 05/4/2007 12:02

Piedro and Iroll, thanks for the very interesting and informative replies.

On the basis of these, the historical chart should perhaps not be completely discounted. I'd certainly settle for a recovery to previous highs.

[iroll] 05/4/2007 10:19

I have been in since 1984 (yes 1984!) via Hill Woolgar & Co. - which became Fredericks Place - acquired by Aberdeen Trust around 1989 - and renamed Aberdeen Asset Management in 1997.

I have been impressed with the strength of management and particularly with Martin Gilbert - Chief Executive and a founding director. He has masterminded some very good value enhancing deals over the years and his steering of the Group from the 2001/02 low point to its current position is nothing short of amazing.

The asset management sector was particularly hard hit during the stock market recession and this, combined with the split caps episode, could well have finished off the company. The ill thought out split caps concept was, of course, also used by other investment companies but ADN were the biggest player and consequently attracted the bulk of the criticism. Needless to say heads rolled within ADN and imo the Group is stronger for that learning experience.

As you infer, however, Piedro, ADN has a much greater chance of success in a rising market.

[piedro] 05/4/2007 09:06

I've only been in ADN since July 03. It has survived the split-capital scandal, settled with the Financial Services Authority, restructured and then taken over the Deutshe Asset Management business giving shareholders a gift Rights Issue at 63p - I am biased and for me the sky is the limit........whilst the markets hold up.

[saucepan] 05/4/2007 07:24

Hectorp: ditto - I have only been following ADN recently. I'd genuinely be interested in further backround info on why ADN "now" might not be the same beast as five years ago. What makes the chart comparison invalid?

Over to longer followers . . .

[hectorp] 04/4/2007 18:27

was about to say that , ie is it the same company and investment profile as 2000-2001. Maybe , I dont know as IO only came in to the share some months ago.
Current price, well if it falls to say 208p I'll be adding again. RSI is near 70, but equally it might side track for a week so the RSI falls to 55/60 and then no need to retrace. we will see.

[admarky2] 04/4/2007 10:30

don't think you can compare the ADN then and now, nice thought though.
in saying that some of their current funds are performing rather well and good results bring new business awards.

[saucepan] 03/4/2007 19:48

The ten-year chart seems to suggest that there could be a lot more to come from ADN in fairly short shrift:



Having said that, if indicators become too overbought in the short-term, I may step aside for a while.

[piedro] 03/4/2007 14:31

I have a support marked in at 208.50p

Barring serious market corrections, the share price of ADN has been in a 58% p.a. rising price channel since Jun 03 - I have 280p marked for August and cannot see anyother reason why not.

As a short term trade, those bounces can be quite difficult to predict but if one is missed there will shortly be another - AIMHO

[hectorp] 03/4/2007 13:31

Next couple of days should confirm that we are staying up in the new territory or not... Looks supportive, but RSI is 70, so room for a drop too.

[hectorp] 30/3/2007 16:52

MAy not be too late. I see too that the share has, or is about to? break out into new territory. Bacause its a fund, I dont expect too much too soon, but I am confident we will hold above 200p barring any serious market worries ( well there could always be those).

[admarky2] 30/3/2007 14:13

chart looking good, well done holders, knew this was good one just gutted i was stopped out last year.

[hectorp] 28/3/2007 17:39

In fact.. ! Dow down 50-60 tonight, ADN closed up 4%. Doesn't often go against FTSE and Dow sentiment . THat is also bullish. Added a couple of K yesterday, but sadly I am a bit cash strapped now.

[hectorp] 28/3/2007 11:33

I suspect the share price will not fall back soon but rally to above old highs.
Todays news suggests confidence will be placed in the company to continue its good work.