F&c Asset Management Share Discussion Threads

[pirgatto] 30/4/2010 08:31

This is getting better then I hoped.Come on guys,what`s Up ?
Clearly the market likes it.
P

[pirgatto] 30/4/2010 08:16

Aviva increased it`s holding in FCAM to 5.56% yesterday.
P

[lab305] 30/4/2010 00:58

topvest maybe the true value of TRC is more than twice what F&C have paid. Certainly all the reports I have seen consider F&C got it cheap. If nothing else it shows that F&C are not cowed by the share price and are still proactive. The deal is a good one with a great incentive built in for TRC to perform well.

[topvest] 29/4/2010 18:47

Not that impressed with this deal as F&C should not be placing shares at 59p or about 1/2 the real value of F&C shares. Means they effectively paid 2 * £34m for TRC! F&C should have the ability to generate these businesses internally.

[simon gordon] 29/4/2010 12:42

Daily Mail - 29/4/10:

Cut-price Thames grabbed by F&C

A hedge fund that was valued at £500m two years ago was sold yesterday for just £33.6m.

Thames River Capital was snapped up by F&C Asset Management, highlighting how the hedge fund industry has been devastated by the downturn.

F&C is seeking to accelerate its push into higher-margin business and draw a line under a turbulent period that has been marked by fund outflows and underperformance.

F&C could pay an additional £20m based on the operating profit performance of Thames River, which was founded in 1998.

[martincc] 29/4/2010 12:26

Great for the institutions, placing completed at 59p, nothing for the PIs as usual

A total of 24,807,145 new ordinary shares in the Company (the "Placing Shares")
have been placed by Citigroup Global Markets U.K. Equity Limited ("Citi"), HSBC
Bank plc ("HSBC") and J.P. Morgan Securities Ltd, which conducts its UK
investment banking activities as J.P. Morgan Cazenove, ("J.P. Morgan Cazenove"
or "JPMC") with institutions at a price of 59 pence per Placing Share (the
"Placing Price").

[pirgatto] 28/4/2010 13:38

Thanks for that Lab305
Well I must admit that the placing worried me this morning.
It seems however that the market are probably in favour of the aquisition,considering the share price has been moving back up again ,after the initial slump?

p

[enami] 28/4/2010 08:59

So IMS looks OK and the acquisition/placing knocking us back. Looks like about 5% extra shares to be issued so that much dilution is not too bad.

Hopefully the market will take it as overall positive and we can move up from here.

[lab305] 26/4/2010 09:02

So had I pirgatto and bought more as you ,but when FP separated the register balooned and has come back now to I think about 100k......" 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. "

[pirgatto] 26/4/2010 08:36

Well I had free shares.I haven`t sold ,in fact I bought a lot more.
I am waiting till at least 75p then might consider a bit of top slicing?
P

[topvest] 25/4/2010 11:38

Bad news for F&C for their management of FCPT; looks like they are going to lose control of their no. 1 property trust to Ignis and Phoenix. Given they have over 50% support already it looks a done deal.

[lab305] 23/4/2010 18:27

Thanks evox although at 8.8% I think this is still ahead.

[evox] 23/4/2010 15:26

lab for high yields IRV,ECM,SFR,MARS and all going well at the moment. NAI.

[lab305] 23/4/2010 10:50

Still loads of FP shareholders selling their "free shares". This massive stock overhang although severely reduced from a few months ago will continue to dog the stock for some time yet. On the bright side it is the reason many of us managed to acquire them cheaply. The lack of activity on this thread also indicates a stock which is unfashionable at present and stuck in the doldrums with a 70p ceiling. I will hold long term and would like to ask any sellers where they are putting their money for a better return?

[evox] 21/4/2010 21:25

tommy - you are not alone! very happy with progress having entered at 60p pre xd although sold half at 67 a couple of weeks ago. just my ISA holding left and doing nicely. Based on other asset managers, business seems good. GLA.

[the jackel] 21/4/2010 18:50

Soon to break 70p then it may fly a bit!

[tommy51] 21/4/2010 17:29

Well good 'ole FCAM is not letting me down today , unlike GMG, HMV - go on 70 p , you know you can breach it tomorrow .
Note to me : must stop talking to myself ;-)

[tommy51] 09/4/2010 12:52

Mentioned in this weeks Shares Mag as Canaccord Adams have switched from Hold to Buy . Price target is 79 , not sure if that is CA or Shares target.

[enami] 08/4/2010 15:51

Doing well here, I expect that many investors putting new ISA money in this week will have bought the highest yielding stocks - 8.8% here at the moment I think.

[the jackel] 08/4/2010 14:50

Evox.

Your right there is much more to go on this one its still under priced at the moment and trading at a huge discount to Net Asset Value. And what with the recent shareholder opposition to M&A activity in favour of a stonger share price it can only help us PIs.

[evox] 07/4/2010 19:28

betman : I told you it would be less than 30 days to get the div back. But I have decided to hold as there is further to go. GLA.

[2banker] 07/4/2010 11:16

Thanks Enami!

[enami] 07/4/2010 09:53

2banker click the "Financials" tab in the header for dividend info.

Yes 4p dividend paid on 7 May and she can sell now and still get the dividend.

Dividend FAQs

[lab305] 07/4/2010 09:52

2banker . Yes and yes to your first 2 questions, and no to your third one,{she does not have to hold them} although I think it would be very foolish to sell.

[topvest] 07/4/2010 09:48

I think FCAM are also a little heavily exposed to Friends Provident. Given their change of ownership, I'm not sure how secure this is. However, I don't think Resolution have their own asset manager, so probably securer than some. At a 50% discount to NAV this is all in the price. Good upside.