F&c Asset Management Share Discussion Threads

[pirgatto] 26/2/2010 08:09

is this the UP turning point???
P

[badtime] 25/2/2010 20:26

Might take a nibble for my sipp tomorrow ..but resrve some firepower

[simon gordon] 25/2/2010 11:00

Must be something brewing in the background as its really breaking down. 48p on the chart looks possible. Looks good value, if the results reassure could soon be over 60p.

[pirgatto] 25/2/2010 08:21

Well, I will probably regret again !? but I have bought some more.My 3d buy.
I also think that this must be the very bottom and surely,considering the analists valuatios of around 80p and 90p per share,somebody will be interested in buying this out???
We shall see
P

[topvest] 24/2/2010 21:22

Surely, these are going to end up being taken over, if this goes on too long. I'm sure someone would be keen to get their hands on managing £100bn of assets!!

[topvest] 24/2/2010 20:30

No idea, but bought some more today. Valuation is ridiculous given the assets it manages. The Austrian target also looks ok. May / may not be a dividend cut, but with nearly £100bn under management and a massive discount to NAV there is a bit of a margin for error.

[badtime] 23/2/2010 22:24

let me know what the bottom is?..lol

[topvest] 23/2/2010 19:48

Seems to be a very low valuation for a company with c£100bn under management. May look to add a few more myself.

[salpara111] 23/2/2010 13:48

have to say that I am a little confused.
I bought in at 74 last year on the basis that FCAM traded at a discount to its peers.
Now it trades nowhere near its peers!
Without any information to go on I will continue to hold and look to add as/when we hit a bottom.

[speedsgh] 23/2/2010 12:34

are there serious concerns out there about them maintaining the current div? it's proving difficult to break this downtrend.

[its the oxman] 23/2/2010 09:21

may be may be not - need to see some consistent growth in gaining assets under management

[mcfctrader] 20/2/2010 13:28

I believe FCAM will be announcing a divi of between 1.5p and 2.0p, payable in April. That will kick start this struggler on its journey back to 80p and beyond.

[simon gordon] 15/2/2010 18:09

Numis - 11/2/10

Why shares down 21% YTD 2010. Investors may still have concerns around the
Friends Provident assets being removed (these represent c£24bn (25%) of group AuM) although F&C does have an agreement whereby Friends Provident would need to compensate F&C for loss of assets and the weakness in the Euro vs. GBP (-1% YTD) is directionally unhelpful for AuM. We believe however these risk are now factored into the share price. In addition, the sector has been weak not helped by the lukewarm response to the recent Gartmore IPO, with the shares of peers such as Aberdeen -12% YTD, Gartmore -12% YTD and Schroders -13% YTD. We do not believe F&C's underperformance is warranted especially given the current valuation.

No new news: In terms of fundamentals there has been no real new information since the AuM update. The results are due on the 10 March and we believe that earnings will come in-line with market expectations, limiting downside risk.

Shareholder sales: There has been no significant shareholder sales since the start of 2010 with the largest single shareholder sale representing only 0.3% of outstanding shares.

[simon gordon] 15/2/2010 18:00

Excellent summary from the IC on FCAM - 4/2/10:



Noble says...

Positive. F&C should start to see a net inflow of funds towards the end of this year as investors regain confidence. The group is also enjoying a consistent improvement in its investment performance, outperforming respective benchmarks in most asset classes. And investment consultants no longer feel hampered now that the group's future is clear. At 69p, the shares are trading at a discount of around 31 per cent to peers such as Schroders and Aberdeen Asset Management, and our valuation equates to a share price of around 89p. Expect 2010 pre-tax profits of £52.3m and EPS of 7p.

Singer Capital Markets says...

Buy. We remain confident of F&C Asset Management's ability to win new mandates as the year progresses, and given our estimate of 25 per cent earnings growth, the shares look to be very good value at current levels, while shareholders are already being rewarded with a hefty 8.5 per cent yield. For now, the shares have a low rating because of the prevailing level of uncertainty about future fund flows, and we are currently forecasting net outflows of £1.5bn this year, with closing funds under management of £102.2bn. At 69p the shares look cheap when compared with our price target of 95p.

[bogg1e] 15/2/2010 09:35

pirgatto, i think it has more to do with greece and the eurozone. That spooked the market and so even though a lot of shares are trading on ridiculous lows, such as fcam, adn, qq. etc, the market is being cautious. Like you ive bought into fcam as the share price is so low, and at this price its a bargain (historically anyway) but will take some time to recover im afraid.

[pirgatto] 12/2/2010 10:55

Considering that the shares dived from 78p - 80p to this levels when they announced there intentions to take over C Quadrat,I really thought that after the announcement of not having done so,the shares would have shot UP !I was so convinced, that I bought some more.Am I going to regret it??
What is the general feeling ,here as to the Div payout which, am I right in saying will be announced on 10 of March??
Many thanks
P

[speedsgh] 11/2/2010 15:18

badtime, from IMS RNS 5/8/09...

"Despite the reduction in underlying earnings, the Board has declared an unchanged interim dividend of 2 pence per share. The final dividend will be determined by reference to a combination of our financial results for H2 2009, and the business and economic outlook for 2010 and beyond. At the time of writing, equity markets are trading at higher levels than during the first half but some market forecasters are predicting a further downturn during the remainder of the year. The Board will continue to balance the importance of income returns to shareholders with maintaining a prudent funding and capital position."

[enami] 11/2/2010 10:56

Aye, seems very much oversold at the moment. I have bought back in at 61.5 which was the support level last July.

[badtime] 11/2/2010 10:39

Ta enami..b interesting to c wher this one settles

[enami] 11/2/2010 10:18

FCAM Forecasts (From Digital Look) Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield 31-Dec-09 226.54 36.97 5.53p 10.9 n/a -29% 5.89p 9.4% 31-Dec-10 244.29 49.13 7.22p 8.3 0.3 +31% 6.05p 9.7% 31-Dec-11 265.82 58.10 8.70p 6.9 0.3 +20% 6.38p 10.2%

[badtime] 11/2/2010 09:27

The yield on this must b quite high now..unless theyve indicated a cut

[mcfctrader] 01/2/2010 13:36

Why are these being hammered today?