F&c Asset Management Share Discussion Threads

[salpara111] 21/7/2010 11:51

Well, now we are in the 40s, just glad I resisted the temptation to add some more at 50p which I was sure was the bottom!
I dont expect them to be able to hold the divi and I would rather they cut it back to 6% and leave themselves enough liquidity going forward.
I am heavily invested here but could potentially add a touch more but only when it is absolutely clear that we are climbing again.

[toffeman1] 21/7/2010 11:51

Your right, Masurenguy. There was no such statement. The dividend was maintained at the last set of results and no mention was made of a cut in same !

[masurenguy] 21/7/2010 11:13

Can you post a link to the relevant part of last years statement which indicated that this years dividend will be cut. It would be most unusual for a company to announce such a move in advance of the following years results. I have looked at the statement and I can't see any reference to this.

[barkjon23] 21/7/2010 11:05

The divi will be cut, there was a statement to this effect in the 2009 annual report

I bought some more yesterday at a touch under 48p - they aere great value under 50p

[the jackel] 20/7/2010 21:46

Keep the faith Salpara111 I'm in adsactly the same postion as you and bought in at 67p and have seen it slip ever since. But like Lab305 says recent director buying shows there is nothing ill toward with this share so hold tight. In fact its a classic value share so no matter if it goes up and down it will find its true value! In fact you bought in at 74p and 60p which is well under the net asset value of FCAM so what may appear to be a sluggish share could well be a winner in the next six months for you. Good trading everyone!

[lab305] 20/7/2010 11:09

Salpara I am with your sentiment exactly. The only grain of comfort is that 2 directors bought recently. Now we are in the closed period. Results around 26 August. I am heavily invested in this and cannot understand the selling patterns going on at present. It looks like automated trades to me but I might be wrong. Surely this is a bid target now.

[the jackel] 11/7/2010 13:13

This share is a slow burner give it time and it will come good. Great dividend and a good chance of capital gains by the end of the year. Its just off the city radar at the moment and trading at a tasty discount compared to peers such as Schroders and Aberdeen asset management. Sometimes the market doesn't make any sense and it pays to be a contrarian and this is one of them times, heavy director buying confirms that.

[lab305] 08/7/2010 16:29

Pathetic performance today especially since it was an asset management company's prospects that started the rally in the US yesterday. These should have been up 3p at least . Results in less than a month . I cannot understand the mentality of those selling.

[lionheart79] 08/7/2010 16:11

Just bought in at 52.75p. I'm not expecting big things from the share price in the near-term, looking to hold for a few years.

[enami] 02/7/2010 12:24

More director buying explains the strong finish on Wednesday.

Mr Charlie Porter, the Chief Executive of the Thames River Capital Group (TRC) acquired 500,500 Ordinary 0.1pence shares in the Company at a price of 50.706 pence on 30th June 2010

[simon gordon] 01/7/2010 09:23

Bit of broker commentary on Resolution's purchase of AXA:

"The AXA UK Life business will have long-term investment management arrangements in place with the AXA Group for a period of up to 10 years from the acquisition completion date on the same fee and discount arrangements as currently in place. These can be terminated and funds withdrawn during the term of the arrangement upon payment of compensation to the AXA Group. These compensation fees are 100% of the NPV of fees referable to the withdrawn funds for the unexpired term for the first 5 years and 40-50% of the funds withdrawn for the period post the first five years. In case of with-profits funds, the fees would be 10%."

=====

Based on the above, the threat of funds moving to AXA looks negligible.

Maybe Resolution are not interested in fund management and will leave their funds with FCAM as long as they perform.

[lab305] 01/7/2010 08:58

Here come all the sellers. Their flag should be a white cross on a white background!

[enami] 30/6/2010 16:14

Strongly off the bottom here.

[masurenguy] 29/6/2010 16:04

True - but he sold 650,000 @61p on June 2nd and bought back 500,000 @51.3 today. Nice £50K profit in 4 weeks from trading the 500,000 !

[cwa1] 29/6/2010 15:46

Useful money where mouth is purchase:-

F&C ASSET MANAGEMENT PLC
Director/PDMR Shareholding


The Company has been informed that Alain Grisay, the Company's Chief Executive
Officer, has today purchased 500,000 Ordinary 0.1p shares in the Company at a
price of 51.34 pence per share.

[masurenguy] 29/6/2010 08:36

Why has the share price dropped by around 12.5% since the placing 2 months ago ?

[lab305] 28/6/2010 16:28

Salpara I agree with you but not about the dividend. The ridiculous level is not the dividend but the share price. Nothing bad has happened and the only official information that we have is quite the reverse. Is it any wonder though that this morning with only 1 person[me] recommending buy ,few people are interested in this stock. I really hope that they maintain the dividend and that may wake a few people up!

[betman] 28/6/2010 15:41

long suffering holders will hope that 50p is the bottom of the recent fall and that the only way is up. If the markets in genral can start to turn around from recent lows then these could start to perform as well, as asset values increase and generate more fees

[salpara111] 28/6/2010 14:49

I am well underwater on this one.
I am unclear how an asset manager with over £100 bn of aum can be valued at less than £250M given that after a 50% fall in the value of Gartmore since it floated it still has a substantially higher market cap but only about one third of the aum.
The divi is clearly going to be cut given that it stands at a ridiculous level but even if they cut it in half it would still be about 5.7% which is substantially more than the market average.
Having averaged down at 60 I now feel pretty silly. There cannot be anything material lurking in the background or they would be forced to issue an RNS saying so.
I appreciate that the mandate for quite a chunk of their aum (around 25 bn)is uncertain in the next couple of years but given that FCAM investment performance is actually pretty good across the board I feel that the market is pricing in a worst case scenario.
On that basis I am going to hang on until the next results which arent that far away.

[colonel a] 28/6/2010 14:35

Which recent director sells are you referring to?
The only ones I spotted were those where half of an award was sold to pay the tax liability.

[nick rubens] 28/6/2010 14:08

Anyone bullish? Looks good value but my gut instinct with the large recent director selling says stand back.

[simon gordon] 21/6/2010 20:36

Just remembered that Resolution are in the process of buying Axa's UK life division, does it not seem probable that they'll take their funds from FCAM and put them with Axa? Certainly is one big cloud of uncertainty.

[betman] 21/6/2010 12:06

Looks like removal from FTSE 250 has been positive with presumably some buying from All share funds ?? How about a return to 60p or even 70p ??