Excellent - in the right place at the right time! |
Nice. Another $125m pops out the hopper. |
Boom.
hxxps://www.institutionalassetmanager.co.uk/2019/10/10/279430/formuepleje-selects-impax-manage-better-world-global-opportunities-fund |
Yes, another nice update. Good to see the US business had positive flows in the final quarter as well. |
Expect the figure of 10 EPS to be wildly too low . Ended last year with 12.5£bn AUM which produced adjusted 12.4p EPS . (Adjustments for the one off acquisition costs and amortisation of acquired intangibles seem very reasonable )Ending the year with 15£bn AUM , seems reasonable to expect a 20 % increase in revenue and at least the same in EPS, possibly with some modest operational gearing . So expecting this to be on a historic PE of |
Some pertinent questions raised - and after today's update of 20% growth in AUM over last year, research note just published by Equity Development covering the potential for further strong revenue growth and benefits of considerable ESG experience.
Click here for free access to note: |
So,AUM is up 20% year on year, good progress but of course the rating is pretty high already. With EPS at around 10p for the year to 30.09.19 we are now on a PER of 25 ish.
I imagine they will need to keep growing assets by 20% plus a year to keep that rating. I am still fairly bullish long term but at the end of the day it is a fund management company and rated more or less twice as highly as REC and CLIG, my two other holdings in the money management space.
For me it's a HOLD at best. I want to invest in the sustainable economy and also am happy about the PAX investment in the women funds etc (I don't know the correct terms but totally believe in gender equality). It's a good place to be long-term and it's been so easy to catch the trends here using IPX and of course it's been mighty good to date, but, maybe the challenge now is the valuation and the dilemma of finding better alternatives to IPX.
Any suggestions welcome. |
Love these to sell off sharply so I can pick em up |
only 212m down on August - pretty good given what a dismal market it was generally - imagine this means there was actually some net inflows on the month. Be nice to end the financial year with going past 15bn at the end of sept. Onwards. |
that is not inflow but thanks anyway. |
They announce AUM on their web-site every month. |
Where did you get July inflow number from please? |
Indeed. The trend is our friend here. Pretty faultless so far.
R2 |
Yes, very positive again. Think 2019 and 2020 will probably see a bit of share price consolidation. Medium term looks very bright though - just think about the profitability when and if AUM get to £30 billion. |
Another 348m AUM announced today for july, taking us to just under 15bn. Pretty impressive and continues momentum from previous month. Imagine August will be a tough month to make any incremental increases given general market conditions, but we shall see.... |
Yes, I’m still more than happy to hold. Prospects look excellent. |
Don't think there are any downgrades - tho' maybe Peel Hunt switched from buy to hold a couple of weeks back. From what i can make out the slight fall in price is down to one big forced (presumably) seller whose been drip feeding a constant stream of algo/automated sales over the last 10 days. Fundamentals remain fantastic (did anyone catch carney on C4 news last night?) and this slight sell-off is just a wonderful buying opportunity. Well that's what im doing anyway. |
Who has downgraded? |
Can anybody explain the broker downgrades while AUM continues to grow rapidly ? |
schroders just bought an impact investing firm as they said it is a mega trend. |
Yes, it’s all looking very positive. When they eventually sort out Pax in the US, the business will be flying. Always at the mercy of the markets, but medium to long term, it’s very well positioned. |
AUM up £900m in a month to 14.53bn. Go IPX |
Thanks for that . This continues to look good. I bought a few more this morning.
R2 |
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