Just Share Discussion Threads

[edwardt] 06/8/2018 16:54

yep - someone wants out! i guess the issue is not that their product is in demand, it is more if they are able to play with the new regs if they come into play. i suspect some fund managers are simply saying sell now and ask questions later. fwiw i intend to hold as the market needs players like just to keep it competitive....

[topvest] 06/8/2018 16:51

If this is what happens on a positive trading update, I dread to think what happens if they issue negative news. Its an absolute bargain, unless some sort of fundraise is being planned to improve the buffer on regulatory capital. Getting to the point when some form of RNS is required.

[topvest] 06/8/2018 16:32

Going down to the previous support level I feel. Totally ridiculous, but that is what is happening.

[k3ndo] 06/8/2018 15:29

Grim indeed despite buys outnumbering sells according to ADVFN.

[topvest] 31/7/2018 15:50

Yes, interesting tactics if all the lifetime mortgage Providers do something similar to make a point to the regulator.

[edwardt] 31/7/2018 09:46

they have just raised their rates on the lifetime mortgage products. got to love regulation - screws the consumer!

[salpara111] 26/7/2018 15:45

Hmm, clearly I called this one wrong!
I would be upset if it drifted back to the chart support which is around 90p.
I guess we will just have to wait for the PRA to do their thing.

[jane deer] 25/7/2018 20:26

I agree that I can’t see the logic in listing the lifetime mortgage business separately - it hedges a part of the curve of the longevity risk of the annuity business.

The FT was quoting some Numis research stating that that the PRA’s proposals included reserving fora 25-30% fall in prices, which would lead to a £160m hit to the regulatory capital position or 10% points on its solvency ratio - less than the Barclays estimate.

[topvest] 25/7/2018 19:02

Yes, interesting thought. They are very exposed to a bid at this price. Great high quality business at a massive discount to book and a P/E of below 7. The stock market is a funny place. Its a momentum market with growth companies on ridiculous P/E ratios. Value is ignored.
Fevertree is on a P/E of 75 and a price book ratio of 39 times...this says where the market is at!

[edwardt] 25/7/2018 08:58

agreed stock trading at large discount to eev. it is in effect trading in run off already. the increased death rate in the uk is often overlooked - which is structurally good for just. i think the pra risks screwing consumers if not careful as the few players in the market will surely take the easy option of universally raising rates. regulation should be about oversight not interfering with market forces. i will sit this out as suspect a bigger player may want to take this out. i do not see the equity release book being listed seperately at all.

[topvest] 24/7/2018 19:08

Yep, it’s on a massive discount to EEV though, and growing strongly with a good yield. I agree that it’s not clear what the impact is, but they probably can’t say too much until the proposals are finalised. I’d like to see the Directors adding now. Definitely got it wrong today, but looking forward medium term should get back to 150p to 200p given its growth credentials. Separation of the Lifetime Mortgages into a separate listed vehicle might help as this is a very long term cash hungry business, albeit with excellent long term potential.

[scrapheap] 24/7/2018 09:49

The lack of clarity in this statement is disappointing - just the note 2 point referring to the June 18 reg statement on their website which I've read a bit of now and am still not sure on just how big a hit we'd be talking based on the PRA consultation approach....

A regulatory 'overhang' replacing the PE selling overhang...

[topvest] 24/7/2018 09:37

Oops called that wrong! The fixation on regulatory capital for one part of their business seems a bit short sighted. The business is performing very well. Maybe they should Demerge their Lifetime Mortgages business as it sits on its own anyway and might do better on its own?

[topvest] 24/7/2018 08:09

I have doubled up on this update. Only downside is the regulatory capital position. Trading is excellent.

[lovat scout] 12/7/2018 14:50

I suspect investors are concerned about the speculation that there may be a change to the capital requirements for equity release providers and may sit on the sidelines until clarity is provided. In the price already IMHO. DYOR etc

[rmm4] 09/7/2018 16:27

Surprising really that all the positive buy recommendations over the last 6 months and price target reiterations have done little to boost the price but one negative comment hits it. So much for the benefit of the clearance of the overhang :(

[edwardt] 06/7/2018 12:12

jpm downgrade doing the damage - anyone seen their thesis..

[lovat scout] 29/5/2018 10:28

......still no RNS holding declarations. Very odd but not an impossible scenario as posted last week although I still think unlikely. It could be the declarations are sitting on someone’s desk.

If the placing was botched and Barclays/Numis still hold the shares it’s not the end of the world as we may be able to buy some cheap ones!

Interestingly, the Result of Bookbuild RNS didn’t have the usual fanfare saying that the shares had been successfully placed with a wide range of institutions etc.

[lovat scout] 25/5/2018 12:49

Something doesn't add up here. Seller has declared as has one buyer but no one else. I don't believe all the other buyers are lax with paperwork or don't have to make a declaration. In an information vacuum people will only assume the worst.....

[18bt] 25/5/2018 08:37

Lovat - agreed, very odd. Anyway, dividend payment to reinvest.

[lovat scout] 25/5/2018 07:50

I’m surprised there haven’t been more shareholder RNS announcements. As it was a book building exercise, surely the placing hasn’t been left with Numis and Barclays? Maybe all taken up by new >3% shareholders or existing not crossing a threshold (apart from Kames)? Unlikely!

[18bt] 24/5/2018 09:10

Just launches TVAS service
By Hope William-Smith 24th May 2018 8:52 am

Technology-Tablet-Tech-Computer-500x320.jpgRetirement product provider Just Group has launched a digital platform that will offer transfer value analysis services.

Just Group is starting the wholly-owned HUB Pension Solutions to provide support services for trustees and scheme sponsors.

The launch of the new services comes two months after the FCA’s policy statement on defined benefit transfers in March.

In the statement, the FCA says advisers accepting free TVAS software could be seen to be in breach of inducement rules brought in this year under MIFID II.

A Money Marketing poll conducted last month shows 63 per cent of respondents believe advisers should run their own TVAS reports.
IFAs fear cost of transfers will increase after TVAS services cut

However, HUB companies chief executive David Cooper says the group’s real-time platform is a positive move for the defined benefits transfer market.

He says: “The FCA want to ensure this market is safer for consumers and our new service delivers help direct to members before advice is even considered.”

He adds: “HUB Pension Solutions uses digital technology to radically disrupt the way scheme specific information can be interrogated and delivered to pension scheme members and financial advisers.”

[typo56] 22/5/2018 16:38

11.3m uncrossed at close (about 1.2% of the company). That's the FTSE effect.