https://www.moneymarketing.co.uk/news/ems-not-understood-and-undervalued-says-franklin-templeton/ |
Should currently be nearer 200p imo....Once rates do start to ease 300p target within 12 months... |
I have dipped my toe in here again today...looks a decent entry point with yields on the fall and interest rates on the verge of being relaxed steadily |
Don't think so.
The trading statement is backward-looking for the quarter ended June and performance was to have been as expected for that quarter.
I am talking about what is happening now and going forward.
you are behind the curve haha! |
Agreed. But can they sustain the dividend? If they can, then this is a non brainer for income as we wait for the capital value to recover. |
Spoken too soon haha!Something needs to change. Every quarterly update is the same. Investors pulling money. Commentary is still "turnaround is just around the corner..."FWIW the market has already fully priced in further AUM declines. Just look at the muted reaction to today's update. All it'll take is just stable AUM for two quarters, and this share price will increase like 30%+....(I hold in the Boon Fund) |
After being out of Ashmore for several years, have now started accumulating.
Why?
1. Bottom of the market
2. Stunning 9% dividend backed by totally solid dividend history
3. Buoyant outlook and well positioned for interest rate cycle
4. £450 million Cash
5. International investors beginning to return to forlorn UK markets
GLA.
ALL IMO. DYOR.
QP |
I would hazard we're not far off it - at Dec 23 lows at about 1.67. If you have patience, confidence and happy to take the dividend... |
When support going to come here? |
Now paying a >9% dividend. |
Interest rates WILL eventually come down so ASHM is surely a buy at current weak sp
spud |
Given what is going on with global interest rates this weakness no surprise.A small consolation is that to the extent that the us dollar continues to strengthen against the pound, earnings expressed in pounds tends to increase.
I do not see myself selling and may buy on further weakness as I have v little EM exposure and use my ASHM holding as my EM holding. |
City reaction as per FT
David McCann, an analyst at Numis, said he had a “negative stance” towards Ashmore based on “the weak medium to long-term investment performance”, which he said could “weigh on flows for the foreseeable future”
Analysts at Citi said these underlying trends would “remain weak,” noting that “investor bearishness” would continue. “We remain cautious on flow outlook over the near term and would wait for sustained improvement in relative performance before becoming more constructive,” they added.
Rae Maile, analyst at Panmure Gordon, said the reduction in interest rates should “bring about the long-awaited turn in the company’s flows”. He added that investment performance “remains good across a broad range of the company’s strategies”. |
I see that late last week JP Morgan Cazenove were prescient and lowered the target price to 184. |
If I have understood correctly, they will get performance fees of £16m this FY which if true would be great and comfortably the largest in the last few years.Please correct me if I have misread.
That said of course management fees are far more important and even in H1 of the current FY were £84m.H2 figures will probably be lower with today's news.Sobering to think that 2 years ago at 31.3.22 AUM was USD78m. |
I've taken a small initial position here this morning, mainly for the attractive dividend and recovery potential. That said, there are attractive dividends all over the place now ! No wonder the FTSE is attempting to cross the 8000 mark again ... |
UBS cuts Ashmore price target to 190 (200) pence - 'neutral' |
Not a great update but wouldn't be too worried going forward either, looks a decent opportunity to buy at 180p level with interest rates eventually, (hopefully) falling later this year |
AuM update for Ashmore Group is on Monday.... |
I believe the next AuM update is due next week...gl holders... |
Look at POLR today....positive inflows into its funds this year, inc Emerging Markets. Ashmore well placed to benefit too and the shares don't deserve to be where they are imo...300p target in 2024. |
Have bought a good chunk here today....can see loads of upside during 2024 as long term yields (eventually!) fall...gl holders....;-) |
I have been looking at some broker notes after the interims.
UBS is neutral with a 12 month tp of 205p.They comment that H1 24 adjusted EBITDA margin was the lowest ever. They note that the half year's variable compensation was 33pc higher than consensus. They have upped this year's eps to 14.95pc. They see no change in dividends in the years to come.
Numis have raised their target price from 165p to 180p and now have a reduce rather than sell. They see no obvious case to own the shares and that weak medium to long term investment performance will weigh on AUM sales and retention. They foresee a maintained dividend through to FY25/26.
Jefferies has a buy and a tp of 220p.They note the surplus capital. |
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