M&g Share Discussion Threads

[jubberjim] 29/11/2023 18:12

I would be more confident if all 4 of the companies I use in my convoluted algos moved in line with each other but still too much disparity to make any informed investmen decision

In this instance I am still seeing better value elsewhere so happy to remain a bearish observer

Hope it goes well for you bulls

[skinny] 29/11/2023 16:47

Looking positive :-



free stock charts from uk.advfn.com

[helen troy] 29/11/2023 14:39

There's your 210 again tufty. Dow is up so I think it will hold for today.

[adejuk] 29/11/2023 13:29

can ne1 tell me real nav?
thx

[skinny] 29/11/2023 12:52

9 month high @210.60

[helen troy] 29/11/2023 12:44

It took us a long time to break through and hold the 202 barrier tufty. I envisage a similar battle with 210 but wdik? Baby has at least got her new shoes :-)

[tuftymatt] 29/11/2023 09:26

Can we break into the 210's and hold it???

Would be great if we could as in my opinion that would help us push on towards the high we set before the pre SVB issue which whacked all financials.

Good luck all 👍🏻

[muscletrade] 29/11/2023 08:58

Duetsche also out with note this morning with Buy and 250 target.

[bluemango] 29/11/2023 08:32

"Hey JJ,
Think that post of 4154 needs some explanation please"

----

JJ has clearly started wiping his bottom using potato skins.

And is very pleased with the results, and what he will save rather than using Cushelle.

[helen troy] 29/11/2023 08:11

Goldman Sachs starts MNG with a 'buy' and a price target of 240

[scobak] 27/11/2023 20:17

Hey JJ,
Think that post of 4154 needs some explanation please.

[cfro] 27/11/2023 16:02

I see the chief strategy officer at it again and buying 20k shares..

He's buying all the time..

[skinny] 27/11/2023 10:17

FWIW :- Barclays raises M&G price target to 205 (200) pence - 'underweight'

[jubberjim] 25/11/2023 19:22

Spud

What an aresewipe

[rongetsrich] 25/11/2023 16:44

What a waste of electrons.

[helen troy] 24/11/2023 09:06

Edging up despite ftse fall. Baby needs new shoes. Go mng, go. :-)

[yossarian1975] 21/11/2023 08:35

I don't think a large part is private mkts. There's one private / illiquid debt fund I'm aware of that is closed ended and raises capital every 2 or 3 years (about £2bn in each vintage) and they have a long lease property fund that is monthly or quarterly liquidity but I think the rest is almost all daily dealt actively managed equity / bond / multi asset. The core property fund is closing and being wound down as demand for those funds has gone. Even given institutional AUM challenges in the years to come, hence the strategy to expand into private wealth via acquisitions, I think the business is significantly undervalued. However LGEN and PHNX even cheaper imo

[yossarian1975] 21/11/2023 08:25

I don't think a large part is private mkts. There's one private / illiquid debt fund I'm aware of that is closed ended and raises capital every 2 or 3 years (about £2bn in each vintage) and they have a long lease property fund that is monthly or quarterly liquidity but I think the rest is almost all daily dealt actively managed equity / bond / multi asset. The core property fund is closing and being wound down as demand for those funds has gone. Even given institutional AUM challenges in the years to come, hence the strategy to expand into private wealth via acquisitions, I think the business is significantly undervalued. However LGEN and PHNX even cheaper imo

[cjac39] 21/11/2023 06:56

the qn was what if they lose their in house supplier not their mkt aum. its correct half is external but a large % of external is private mkts not daily dealing and as it happens they are also quite good. i think you are incorrect its mainly bond funds and bpa clients but they did suffer from the ldi debacle causing outflows.

[yossarian1975] 21/11/2023 00:05

Cjac they don’t own the AUM, they manage them. On behalf of, mainly, institutional investors, most of which are UK DB pension schemes, and mainly in bond funds. A lot of these assets will end up with Insurers via BPA deals over the next 3 to 5 years, so good to see MNG back in this market. But that AUM isn’t as sticky as it might appear. Most of it is in daily dealt funds, so theoretically the owners could sell their units tomorrow

[pete160] 20/11/2023 21:31

Yeah, what he said!
Thanks cjac

[cjac39] 20/11/2023 20:51

1jat youll note i left out the bond portfolio thats surplus to sh annuities. as you no doubt know they basically defeased the subdebt with a bond portfolio and need only circa 50% of annuity cashflows to unwind the negative carry from one to other. so no, i didnt ignore that.

its entirely within their gift to return it to CI 65% but more importantly a synergy player buying these cashflows could make easily 50% cost saveson aum.

how does half the aum walk out the door when you own it? but btw thats a massive conflict the pra hates and is a catalyst for breakup

[1jat] 20/11/2023 20:08

Cjac…are you going to deduct the £3bn debt…..then your numbers are more like £6bn rather than £9bn.
Not sure M&G the asset manager is worth £3bn… profit has been falling consistently and what happens if it loses its in house supplier…half the assets (at a low margin) could walk out the door……buyer might have to pay £3…or £6.6bn..this is unlikely in my opinion…..Pru could not sell it and opted to float and there has been plenty of opportunity in the last 4 years…..
Still we can hope

[cjac39] 17/11/2023 20:01

Sadly spud I doubt that will happen. It’s just too cheap

[spud] 17/11/2023 19:54

I'm happy for it to remain below the radar personally. The yield is killer and the low valuation allows for an uninterrupted ability to add ad-infinitum. One of many in this sector of which I'm grateful. spud