Assetco Share Discussion Threads

[tommygriff] 22/6/2023 19:03

In that size as well - nice work

[privileged] 21/6/2023 18:47

How did that director buy at 35p? Did we ever get to that level?

[giardap] 19/6/2023 20:05

What price snapping up some Odey business?

[volsung] 16/6/2023 07:28

Tabhair do lamb

[tabhair] 14/6/2023 12:02

For the last six months they generated £8.3m of revenue but had £15.6m of administrative expenses (this was after exceptional items!).

The company had £15.2m in staff costs for 2022 alone with management and directors getting huge salaries and fees.

As pointed out above, pretty clear that this business is just too sub-scale to provide a return to shareholders.

I had a quick look at Premier Miton as a peer comparison. It's twice as expensive as Assetco on enterprise value but has 5x the revenue and is hugely cash flow generative.

[fastbuck] 14/6/2023 11:56

I'm waiting for the broker note from Zeus, hopefully it will give us more insight into FY next years forecast

[tommygriff] 14/6/2023 11:53

Yes not the best but the market cap is still way below the sum of parts & cash! Maybe some Director buys and a small buy back would help the share price while they try and sort the business out

[topvest] 14/6/2023 11:17

Truly awful results, however they spin it!

[tommygriff] 14/6/2023 10:10

A few Director purchases wouldn't hurt

[jurgenklopp] 14/6/2023 07:12

Hugely disappointing.

[chrisdgb] 14/6/2023 07:09

eeeeeeeeeeeeuuuuuuuugggggggggggghhhhhhhh

[topvest] 06/3/2023 12:27

Another eclectic unrelated deal today. I can't see this to be a winning formula. It's like Aberdeen in the early days, but without decent targets. They seem to be buying sub-scale managers at a premium.

[slatto1971] 16/2/2023 08:31

Quite right. It’s a steaming pile of sun-scale units. No cohesion and no real quality. Dressed up to look like it has a plan and is all meant to be.

[topvest] 16/2/2023 08:18

Results ugly as expected. I'm not sure that Martin Gilbert's plan is working - he has done a few deals and ended up with a few sub-scale asset management businesses with excessive costs and enormous losses.

He was supposed to be creating an asset management business without the legacy issues of abrdn. Quite the opposite has happened - he has a £3bn AUM business with even more legacy issues to deal with. Abrdn looks good in comparison.

Then the report adds in Parmenion AUM of £10bn which is misleading as they don't control this business...and it doesn't actually make much money either!

The only positive is the large cash pile.

[tommygriff] 17/1/2023 20:02

Undervalued

[privileged] 17/1/2023 14:12

What's behind today's rise ?

[tommygriff] 23/12/2022 10:37

Divi received and reinvested

[jurgenklopp] 06/12/2022 13:04

Steaming along nicely this week.
First proper turbulence should be around the 100p level.
😉

[microscope] 30/11/2022 21:29

Hello, interesting activity here all of a sudden..,

[jurgenklopp] 30/11/2022 09:03

1.3p goes xd on Friday for payment on 23 December.

A very bright start this morning too !!

[tommygriff] 26/11/2022 18:55

Divi announced for December! Well undervalued by the market this

[privileged] 10/11/2022 23:44

This has been missed with the market rise recently. Their funds must be performing this month and their fees as a result plus the possible parmenion deal and all the buying of shares. Want to see this at £1 by year end !

[tommygriff] 27/10/2022 13:36

Maybe something to do with conflicting interest like the belowhttps://www.ftadviser.com/investments/2022/10/10/martin-gilbert-asked-to-step-down-from-abrdn-fund-boards/

[tommygriff] 27/10/2022 13:35

Strange one with Martin Gilbert being chairman both here and there