Liontrust Asset Management Share Discussion Threads

[foolishboy2000] 20/1/2005 12:34

Mark down of nearly 6% does seem a little harsh, it appears to be ticking along nicely. Today is slightly dissapointing as the performance fees would have meant more divis, but not too much as I always see them as bunse.

Am tempted to dip in again, may just wait a couple of days as you never know they may go sub £3

[swalker] 20/1/2005 08:19

I see the trading statement was out this morning and the market hasnt reacted well to it, even if it was in line with expectations. That is, I suppose, if you can call a sole trade of 3000 shares as being adverse. The MMs have backed the price down. Now may be an interesting time to see if the decline brings about any new buyers.

[foolishboy2000] 19/1/2005 22:25

I researched the share before buying and took the potential MBO as all upside, I agree I looks pretty cheap/good value compared to other shares in the sector.
So lets hope it does come back


Bit of a share price fall today and the sell to buy balance was not too bad.

[swalker] 19/1/2005 09:50

Morning Foolishboy2000

FWIW I stil feel that an MBO will return, as I have mentioned above. There has been some sizeable buys and some of the more shrewd fund managers have bought in for the same reason.

We know the LIO guys from the time they started out and indeed we were lucky enough to get stock in the float. The price following the "collapse" of the bid talks was too cheap relative to the other fund management players and looked good as a GARP play with the, IMO very likely, potential for an MBO.

LIO is not a stock that attacts much in the way of retail interest and the buys over the last few days look to me like fund manager adding.

Darron

[foolishboy2000] 18/1/2005 21:38

whats going on ?????

Not sure what to think, was lucky enough to buy in on 31/12 and it seems to have took off since then

[swalker] 11/1/2005 15:30

Hmmm - Interesting to see the recent price moves in LIO.

The overhang appears to have been cleared and there appears to be a solid buyer today who has pushed up the price. There seems to be little stock around but the buyer is in good size.

Could there be another offer in the offing?

FWIW - I dont think that the offer was dead. The phrase used in the RNS was interesting and didnt seem to imply that an offer was dead:

It has not proved possible within a reasonable timetable to agree the terms of an acceptable proposal to be put to shareholders. Discussions have therefore been terminated."

Plus I see Rathbone have said that their appointment of Hawkpoint as financial advisers is about a search for acquistions rather than putting itself up for sale.

Now I dont see Rathbone as bidding given the management team at LIO and their interest in doing an MBO previously but still..... Something looks to be in the offing.

[green sand] 09/12/2004 09:27

Thanks SW, I had sort of gathered as much but its nice to get clarification.

Regards

GS

[swalker] 08/12/2004 20:46

Hi GS

Sorry for the late reply.

GARP stands for Growth At a Reasonable Price.

Its just another classification such as Growth or Value or Crisis Play. Baiscally it is just about buying a company with solid growth at a reasonable price. Sorry if that sounds preachy.

BTW I should declare that we have a position in Liontrust having bought when the deal fell through.

[green sand] 04/12/2004 11:22

SWalker, forgive my ignorance, but what is a GARP?

Kind Regards

GS

[swalker] 30/11/2004 13:54

Liontrust Asset Management PLC
30 November 2004





Liontrust Asset Management PLC


On 5 November 2004 the Company announced that a tentative, management initiated,
approach had been received, which may or may not lead to an offer for the
Company.


It has not proved possible within a reasonable timetable to agree the terms of
an acceptable proposal to be put to shareholders. Discussions have therefore
been terminated.


The Directors confirm that expectations for profits before tax for the year to
31 March 2005 remain in line with market forecasts.


The senior management of the Company remain committed to the business and its
customers.

Still, the fall today takes it back to March 2003 levels and that looks very good value for a GARP at 12x earnings.

[oscardodd] 08/11/2004 15:57

Combo83 - 500p+ would be nice, but I think your price may be a little high!

[combo83] 05/11/2004 13:25

Potential bid could come at 500p+ right?

[terry topper] 12/7/2003 13:03

Liontrust reminds me in some ways of Perpetual in the early 1990s.Good investment performance and excellent marketing led to massive inflows of new money in a rising market.The result was that earnings rocketed and the share price followed, rising from less than £1 to over £40 within a few years.
Liontrust is winning money in both the institutional and retail markets and has a good performance record.The shares,although not cheap,should therefore continue to do well especially if markets continue to recover.I have tucked these away as a long term hold although it is worth keeping an eye on the performance figures. Perpetual eventually got so big (in terms of funds under management) that its investment performance began to suffer.This was a clear sell indicator long before the share price began to fall.
TT

[gardenboy] 07/2/2003 13:51

and same again please

[picaroon] 25/9/2002 00:07

quite agree - short also

[charlie] 24/9/2002 11:38

Trailing p/e now 24

Forward p/e 19

Yield 1.1%

This is a fund management business

Should be 1/3 the current price?

[charlie] 05/8/2002 11:29

Seems to be some selling today.

[charlie] 24/7/2002 14:28

Thanks for the chart. Charts usually don't do much for me, I'm all fundamentals. But one thing which the chart does do for me in this case is that it shows the stock is still 30% above last autumn's low. Meanwhile the market is about 20% down on last Autumn lows. And Liontrust is a fund manager.
Most of its income related to market levels.

This cannot be right!!

[adamh] 19/7/2002 23:37

lets have a look at the chart then

[charlie] 19/7/2002 22:21

Starting to slip away but still wildly overpriced.

[charlie] 16/7/2002 21:49

Difficult to see what was going on with today's trades. 23,786 and 25,000 back-to-back, twice. Murky.

[charlie] 16/7/2002 10:16

I like Liontrust. A quality fund management operation run by a bright bunch of guys and with superior historical performance.

But please, in the current market, where does a trailing p/e of 27 come from? Forward p/e of 21? For a long-only fund manager?

Surely shome mishtake.

One third of the present price would seem about right.

[calleva] 08/7/2002 11:06

RNS Number:3013Y
Liontrust Asset Management PLC
8 July 2002


Monday 8th July 2002

Stock Exchange Announcement


Liontrust Asset Management PLC 2002 Annual General Meeting.

Chairman's Statement and Trading Update

The following is the Statement by Chairman Ellen Winser at the 2002 Annual
General Meeting, held at The Savoy, London WC2 at 11am on Monday 8th July 2002:

"As I said in my statement in the Company's Annual Report and Accounts, I am
delighted to be able to report good results for our third year running as a
public company. We attribute these results to the excellent performance of our
investment processes and the simplicity, efficiency and focus of our business
model.

Competition in all areas of our business remains intense and the stock market
environment difficult, but we remain confident that the differentiation and the
superior performance of our investment processes and our increasing distribution
capabilities will enable us to make further progress. Our results for the
current financial year to date are encouraging.

Indeed, since our year end, we have won an additional £190.5 million in new
institutional pension fund mandates and net sales of our proprietory unit trusts
have been £92 million. Despite the 15% fall in the FTSE 100 index since our year
end, funds under management on Thursday 4th July stood at £1.916 billion, with a
further £379.5 million in transition. We continue to be invited to pitch for
substantial new business.

I would like to thank our staff for another successful year and reiterate that
we look forward to the challenges that lie ahead. We continue to see a bright
future for Liontrust and all those associated with our Company."

[morose] 06/3/2001 13:18

BRNF
Have you any thoughts about where it will go from here?
Up slightly today.

[brnf] 06/3/2001 11:51

Look at the announcements and you will find your answer. A pre-warning of a forthcoming placing of secondary stock, the market bidding the stock down against the seller and now settling the traditional 5% above the placing price.