Jupiter Fund Management Share Discussion Threads

[hugepants] 23/8/2022 15:14

bidm, Just google "chrysalis debacle". It's quite a well known debacle.

[qantas] 23/8/2022 14:23

Asset managers curb pay amid rising cost pressures

Please do your onw research as always.

[bldm] 23/8/2022 09:26

At this point, I would say it is inevitable this goes below 100. I'd hold off buying until it dips below. BTW, can someone share a link to the "Chrysalis debacle"? I'm not familiar with this one but I just started looking at this beaten share.

[rcturner2] 22/8/2022 16:45

Dangerous though, this is a geared play, weak company, weak market.

[strutt12] 22/8/2022 14:52

REVB
THG
ASCL -43.8%
CARD
CHRY -66.51%
FUTR -57.45%
GAMA -50.64%

Looks like they bought high and are now selling low!!
Well done boys

[rcturner2] 20/8/2022 06:29

A new CEO will highly likely clear the decks and throw all the bad news into the first set of results. The only question is how big will the dividend cut be?

[hooley] 19/8/2022 23:58

If this share is able to sustain a dividend yield of 5% then it's worth holding for recovery. Despite the maintained interim, the inference is nothing for the final. The odds are against that happening. A bid is possible, though it would probably be above the present share price I've bought on that basis, with no timescale for the recovery.

[trident5] 19/8/2022 16:07

Wunderbar:


Pity he didn't spend his time at Jupiter on the beach instead of at his desk.

[wunderbar] 19/8/2022 15:40

HamHam, I think you're being extremely optimistic with a price target of 300p in 24 months. I'd dearly love that to be the case but doubt very much it will materialise in such a short timeframe. Perhaps 3-5 years is more realistic, if at all! Incidentally, 300p was my price target when I started buying into JUP back in February c.223p. However, a lot has changed in that time, namely Putin rolling his tanks into Ukraine and by doing so changing the worldwide economic landscape. Add to that JUP's gung-ho investment in Chrysalis, as well as their repeated failure to stem outflows, and what you’re left with is a share price caught in a dangerous tailspin. We seem to be hitting new all-time lows almost every week. At what point does this trend stop - are we not already in bargain territory @ 111p? Jupiter’s market cap is now just £616m (YTD share price down 58%) – how low does it have to go to before turning the corner, or ignite a takeover bid? At present my investment is down c.40% so I’ve no choice but to sit tight through this period of turmoil and wait for a recovery of sorts, ideally offloading into a rising share price. Given the poor sentiment in this sector I'd settle for 130-150p come end of year. In the short term I can't see it climbing above said levels unless instigated by a takeover rumour/bid, and should one materialise I’d hedge my bets on an offer price in the region of 170-190p.

As for the dividend, I don’t think anyone should be fooled by the perceived current yield of 15%. Whilst the company intends paying out a full interim divi of 7.9p I reckon future payouts will be substantially cut, anything between 30-60%, which would still leave a healthy divi for investors at current price, but a hammer blow for investors who bought in much higher.

On a final note I think it’s absolutely disgraceful that Andrew Formica is still CEO (albeit until 1 October when he steps down). In my opinion he should’ve been shown the door following the Chrysalis debacle. His 3½ year tenure has been an abject failure. He has only succeeded in destroying shareholder capital during his reign, somewhat ironic given this is a wealth management company. Naturally, he has been handsomely rewarded for his failure, drawing an annual salary of c.£450k (excluding bonuses etc). In his first year alone he walked away with £1.3m. And to rub salt into shareholders wounds he will remain within the company until the middle of next year to ensure a smooth transition with his successor. Surely shareholders should have a say in this matter. This is the man who has overseen the biggest capital destruction in the company’s history. Under his leadership JUP’s share price has fallen 69% wiping almost £1.4bn off the market cap. He should go now.

[jubberjim] 18/8/2022 11:41

Until I see an improvement in the chrysalis investment vehicle run by Jupiter thinks this remains as one to watch but avoid for time being

[jubberjim] 18/8/2022 11:20

Who s Warren Buffet ?

[acsatix] 18/8/2022 07:42

@jubberjim. Now if u were warren buffet or the likes I would care about what you do… but…

[jubberjim] 17/8/2022 15:33

Well hit that 114 target
Was tempted but have held back for time being but remains on radar watch

[2wild] 12/8/2022 12:52

The recent results look even more dire with MMG reporting net inflows and increasing interim dividend yesterday. At 220p MNG have a very secure 8.3% dividend yield. Generating so much cash they are buying back 10% of their own shares.

[linton5] 12/8/2022 10:53

They are bailing out on a few investments I see slowly selling

[squintyflinty1] 12/8/2022 10:32

They simply cannot afford to carry on with this level of dividend especially as the company is underperforming and the outlook is bleak.

[qantas] 11/8/2022 16:26

Analysts at Canaccord Genuity downgraded fund manager Jupiter Fund Management from 'hold' to 'sell' on Thursday, stating there was downside risk to its already below-consensus forecasts.

Canaccord Genuity said Jupiter's new chief executive, who takes over on 1 October, must set about stabilising the shrinking the group's assets under management base while simultaneously cutting costs.

"Maintaining the dividend is unsustainable if the capital surplus is to be protected, so the question is not if, but by how much future dividends are cut," said Canaccord, which also halved its target price on the stock to 114.0p.

The Canadian bank said its new underlying earnings per share forecasts were 8%, 22%, and 26% below consensus estimates over the next three years and stated it believes consensus takes "a more optimistic view" than it does on market levels and net flows.

"We forecast net outflows of £2.0bn in H2 2022, a reduction versus the £3.6bn net outflows experienced in H1 2022. We forecast a return to marginal inflows of £200.0m in FY23E. We believe the risk to our net flow forecasts is skewed to the downside. It is worth noting that between 2018 and H1 2022, Jupiter has suffered a cumulative £20.5bn of net outflows," said the analysts.

Canaccord added that its forecasts reflected management guidance on costs for H2 but said "significant cuts" may or may not materialise.



Reporting by Iain Gilbert at Sharecast.com

Please do your own research as follows.

[hamhamham1] 11/8/2022 10:33

Just bought a few here today at 121p.
Inflows will pile in once market turns and profits will follow, 300p target for me in 24 months.

[zxie] 11/8/2022 08:25

INSP shares jump imminent

[cwa1] 11/8/2022 08:07

So, ex a hulking great 7.9p dividend this morning, payable 31/8-so not long to wait. Sp down at 120'ish pence as expected