Anyone got a view on whether that 781k trade at 10.51am was a buy or a sell? Could really do with some decent news very soon. share price looks pretty undervalued given all the news to date but we seem to have been saying that for months now. |
As long as the Revenue-per-Share keeps rising exponentially, "am I bovvered"? |
You can sell 'quite a few' automatically with AJB this morning at 9.75p.
Fundraise at 10p within the next 2-3 weeks? |
O/T
Hi DTB :)
Many thanks - both books on my bedside and partially read. The German economic miracle is on the wane as is much of the Europe but makes for fascinating reading. The dangers of living in the past and hoping that legacy national strengths and economic models will survive in a rapidly changing world is wishful thinking. The pressures of increased defence spending in Europe and resultant debt that countries will have to take on will cause inflation to spike again. This is all before Iran mines/sinks a VLCC in the Straits of Hormuz or China decides to encircle Taiwan in an embrace. Trump is likely to spend more time plotting retribution to his opponents than bothering about what happens here or for that matter anywhere else in the world.
Investing is about thinking ahead and positioning for the future....better to be approximately right than be absolutely wrong ! |
Morning Multi. Kaput was reviewed last weekend in the FT. Not a subject you would even have considered twenty years ago when German industry was in its pomp. There is also an interview out there between Neil Oliver and Nick Ward which was very interesting. |
O/T
Good morning TF :)
A couple of good books to read if you are interested....and would make a welcome change from broken biscuits....
Kaput - Wolfgang Munchau
Broken money - Lyn Alden
Many are totally oblivious and worryingly clueless to how the world order and economies are changing..... |
Reason for pricing pressure is their executives are probably payed third world salaries, whereas Cyan seem to think paying first world salaries and still trying compete doesn't add up..crux of the problem. |
Yes, but there is price competition from Cellular systems, that has been tightening for years. We might note rate them, but they are there, and effective in plenty of territories. .Indians seem very focussed on first-cost/price; whole-life-cost decisions requires a different strategic mindset. However, the cumulative SLA performance/cost difference must surely be very significant. |
They need to start pricing their modules taking into account all cost plus a profit margin, its not rocket science just good business practice.
If this was private concern they would gone bust years ago... |
 (Sharecast News) - Premier Miton Group reported a 9% increase in assets under management for the financial year ended 30 September on Friday, reaching £10.7bn, up from £9.8bn a year earlier.
Despite the annual growth, the AIM-traded fund management group said it experienced net outflows of £133m during the fourth quarter.
It noted that investor interest was gradually returning, with more positive market signs emerging.
"It was pleasing to see that net flows into our funds and segregated mandates were positive during June, July and August," said chief executive officer Mike O'Shea.
"Significant uncertainty ahead of the budget in the UK later this month appears to have dented investor sentiment more recently.
"As a result, the improving environment for sales that we saw over the summer has reversed."
Net flows for September were negative, with O'Shea reporting a "meaningful redemption" from one of the UK-focussed investment trusts the company manages, bringing the total outflow for the quarter to £133m.
"This is disappointing after the stronger inflows seen over the summer.
"It is to be hoped that once the full impact of the budget, particularly on capital gains and pensions, is known, then investor confidence will return.
"Encouragingly, though, we continued to see positive flow into the Tellworth funds following their successful integration into the Premier Miton business."
Mike O'Shea said investment performance also continued to be good in many of the firm's key areas.
"Our UK equity teams have delivered strong returns over the last year as have our multi-asset teams.
"It has also been pleasing to see improving short term numbers for some of our international equity strategies as equity markets have broadened out in recent months.
"Both our fixed income and absolute return teams have continued to build on their impressive longer-term numbers - all of which stands us in good stead for when the flow environment improves."
At 1108 BST, shares in Premier Miton Group were up 2.57% at 60p.
TLDR - Net outflows for the fourth quarter £133m against AUM £10.7bn. Forced redemptions necessitating the selling down of their stake in CYAN? I'm not buying it. The sale of CYAN wouldn't have made a dent against £133m which they could have managed with money market instruments. Heed the warning signs. Even the bucket fund managers are beginning to smell the coffee. |
Hi MB, staying closer to the Equity/Fund plot, Miton MINI is down 59% in the last 3.5 years....... I was thinking some people may have wanted to capitulate, and liquidate their losses within a CGT clean-up - and then reinvest within an ISA wrapper. But it's a personal/portfolio choice..I have never seriously contemplated BTL - too much hassle and too illiquid for my liking..The IHT, AIM, BPR arena is a big topic and O/T in my view - RR has handed me real issues here from 4/2027 so I need some good independent thought fodder! I suspect IFA's are busy feathering their nests?! .From yesterday's RR preview I doubt any direct assistance will be offered later today (and myself and my wife have never worked in the public sector). However, there is the remote possibility of a pension-driven AIM tailwind..Good luck, we need it! tightfist |
Hi TF :)
I think CGT on its own is tolerable on a country level as many people with disposable income have been in BTL traditionally. BLT CGT is 24%, though SDLT has now gone up from 3% to 5% for "second homes" from what I recall.
For larger scale investors it is the IHT element that may cause longer term flight from the AIM market, unless possible changes to Pension Fund Investments could be announced in the Mansion House Speech by RR, which could mitigate to a degree.
ISA allowances being frozen at £20k till 2030 creates another fiscal drag, so the economic growth agenda RR is supposedly touting is facing a grim outlook. Not forgetting a raft of other business unfriendly measures.
I think it has been good for CYAN to open a base in a low tax/no tax jurisdiction like UAE but not sure how these multinational operations work for a UK based company and how revenue will be recognised ?
IHT and Wealth Advisors will be getting their head around Budget implications and clarifying matters with HMRC interpretations and their own Barristers before starting to offer their revised IHT planning solutions. So a few months before we start noticing their longer term shifts. More than the taxation point of view, it is the appalling healthcare that the NHS offers is what worries me as we get older.
I know quite a few HNIs are looking at their options including dual citizenships and deciding on domicile....
Good luck all ! |
Regarding forced fund redemptions, I wonder what the impact of CGT changes has been? CGT is thankfully off my radar screen (now 99% in ISA) but the impact on funds (also B&ISA, passive ETF's) could be substantial? |
Yes, thanks for your efforts nilli. The 26th August article I referred to was technical but also quite interesting and had stuff in it I hadn't seen before.
As for yesterday's action, given the demand for the stock at the recent placing, you would imagine that participants in that who didn't get their full whack would be happy to get their hands on stock at a similar price.
What we need now is for an RNS to deliver the game-changing, positive news we are all waiting for. |
Surely it was simply cut and pasted.
Any thoughts on the timing of the next fundraise?
Our Mr Williams (TU) was just on Radio 6 Music news putting in his pennies worth re the governments pension shake up. |
Good morning nilli and all :)
Many thanks for taking the time, effort and perseverance to type out the whole article for the benefit of posters here. I am sure everyone on here appreciates and thanks you for your kind generosity and altruistic spirit.
Premier Miton and other fund managers facing redemptions is something I have been saying for a long time and is no surprise given our country's economic backdrop and pressure on family finances and day to day living costs. We are the blessed and fortunate few who have the luxury of having investments and savings.
The share price has held up remarkably well, as it would have been a carefully calibrated sell down and I won't be surprised if one of our newer large investors has been the counterparty ? MMs are unlikely to hold/absorb such large positions unless they are suitably rewarded and risk proofed.....in the sense they are confident of being able offload in the near future (I speculate and you make of it, what you will !!) |
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Hi Nilli. Are you referring to the article of 26th August 2024? If so it is easily accessed by googling EPR magazine. All about Omnimesh solution and 'split meters'. Bit technical for me. From your description though, I suspect there may be a more recent article. Was the linked tweeted by Cyan? Afraid I don't do X. |
Gleach; Gervais Williams is presenting at Mello next Tuesday, so maybe we will learn more then - I well remember the 40% redemption application figure, I was stunned. There should be some bargains out there now..... |
Hi nilli, a pity you cannot post the link. The topics sound interesting, particularly regarding Connectivity and Renewables. |
Not able to post the link though. |
Hi SBP...I had mentioned this on post 8897 after having read an article by Mark Simpson on Stockopedia in which he said Miton UK Microcap Trust had received redemption requests from shareholders amounting to 40% of the fund. He also advised that the fund held 3% in CYAN. I'm not sure how this squares with the RNS today advising Miton have reduced to 9.53% but perhaps they also hold CYAN in other funds. If so, hopefully these other funds will not have been subject to such redemption requests. |
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