||EPS - Basic
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Mam Funds Share Discussion Threads
Showing 26 to 50 of 50 messages
|Diverse Income Trust raised an impressive £31m. They seem to be getting some momentum going.|
|I've bought a few here. They seem to be making good steady progress and have a very strong new management team. The Diverse Income Trust is well on the way to becoming a £100m investment trust as a starter, which is pretty good in these conditions. I can see another investment trust launch on the way - either a US or Small Company Fund. Profitability could do very well here if they can continue to grow FUM. I should have bought a few months ago below 20p, but even at 21-23p its massively below what the new management team paid of 33p.|
|THANK GOODNESS FOR A FLICKER OF INTEREST!|
|Poor website...no AGM statement.....come on MMF you are a quoted company!|
|That's better......resolution of management situation?|
|Pretty grim website......thes guys need to sharpen up their act!|
|What do the share declarations mean......bought by in house funds. Surely not?|
|A leveraged play on a rising (or falling) market?!|
|looks like this will go up in the short term, results out next month|
post it note
|Wow George Soros dives in for a few!
I have listed his other known holdings in post 1 of the Hedge Fund Tracking thread.
RNS for Soro's MMF stake.
|Not a particularly informative BB, but the recent news and share price movement indicate that this is a stock of some interest. All the signs seem to be positive and the fact that today's move puts the proposed rights issue at a discount rather than at a premium inspires some confidence.
Anyone out there with an investment opinion on this stock?|
|MAM Funds has doubled its adjusted profit before tax from continuing operations, according to its interim results to June 30.
"The company divested its wealth management and international fund management businesses in the period, and at the general meeting, on July 28, shareholders approved our capital restructuring and name change to MAM Funds plc," he said.
"The group is now firmly focused on UK multi-asset fund management, with strength and a good depth of experience in the investment team, positioning it as one of the UK's leading specialists."
Of the group's overall performance, Mr Rutherford said each fund had performed well and assets under management (AUM) had risen to £1.57bn at August 31, from £1.41bn in 2009.
"In the preceding 12 months, Midas Balanced Growth reported top-quartile performance, with 10.3 per cent growth," he said.
"Miton Special Situations and Strategic funds reported performance of 6.4 per cent and 6.7 per cent growth, respectively, and maintained their top-decile return since launch.
"We are pleased to report Special Situations has now gone through £500m AUM and the group had net creations of £40m in the period, before allowing for market increases."
Mr Rutherford said the group's aim was to deliver enhanced performance and spoke about the outlook for the business after its reorganisation.
He said: "Having completed our divestment programme and the capital restructuring and rebranding, we are now positioned for organic growth and to build value for shareholders while on the lookout for complementary talent and opportunities that might accelerate our proposition."|
|MAM Fund is worth around 40-50p given a similar rating to other fund management companies. If it stays at the current levels will be a strong takeover target.|
|Will be interesting to see the coverage the company gets after the strong results. There will be other fund management companies who are keeping a close eye on MAM Funds at would make a great acquisition especially given it's current value and potential growth.|
|REPAYMENT OF PREFERENCE SHARES
MAM Funds plc ('MMF'), the AIM quoted fund management company, announces that it
has today repaid GBP5,527,405 of cumulative redeemable preference shares
("Preference Shares") held by Bank of Scotland plc. Following the repayment
there remain GBP6,834,769 of Preference Shares and associated accrued interest.
The repayment has been made from cash resources generated by the sale of the
iimia Wealth Management division on 25 January 2010.|
|Results are better than broker expectations (currently only covered by Arbuthnot, who have a strong buy recommendation and 40p target).|
|NTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2010
MAM Funds plc, the AIM quoted fund management group, announces its interim
results for the six months ended 30 June 2010.
Colin Rutherford, Chairman and Chief Executive Officer says:
"It is pleasing to be able to report for the period a doubling of adjusted
profit before tax from continuing operations at GBP2.0 million.
The name change and capital restructure opens a fresh chapter for the Group and
the focus is now firmly on the fund management business.
With strength and depth of experience in the investment team, MAM Funds is one
of the UK's leading multi-asset fund management specialists. Our aim is to
deliver enhanced performance for investors and shareholders alike and we are now
better placed for organic growth and to explore complementary value enhancing
fund management opportunities."|
|I think the target price of 40p issued by Arbuthnot is conservative and could easily trade in the 50-60p mark based on a peer valuation.
The forward PE is forecast at 6.3 in 2011 and EV/EVITDA forecast of just 3.2 in 2011.
plenty of upside on this one, so looking forward to some positive news flow.|
|Results out next week, possibly thursday.|
|Hope this gets some publicity after the results as there is little discussion about the company.|
|Should get an update soon......................
Next interim announcement - 30 September 2010 (Provisional)|
|Arbuthnot has now issued a research report with a Strong Buy recommendation and a price target of 40p.
"On valuation metrics, MAM Funds looks good value in our opinion and our 40p target price equates to an enterprise value of 2.2% of FUN. In our view, with the good performance record of the four main funds and net debt under control, MAM Funds share price should recover, hence our Strong Buy recommendation".|
|Any thoughts on MAM Funds Plc?|
Fund management company Midas Capital's executive chairman Colin Rutherford and director Martin Gray have increased their stakes in Midas, Rutherford by 350,000 shares bringing his stake in the company up to 1.8% and Gray by 257,000 bringing his holding to 2.8%.
Rutherford is presently executive chairman of the board and took over as chief executive in March last year when CF Midas Balanced Growth manager Simon Edwards stepped down to concentrate on fund management.
Rutherford said: "The recent share purchase is hopefully a precursor to further activity in the stock. I believe Midas has now turned the corner and despite these markets, as a focused fund management operation, we are in a good position to exploit this volatility."
Gray was appointed a director of the company in mid-May and runs a raft of funds including the CF Miton Strategic and CF Miton Special Situations portfolios.|
MAM Funds plc (MAMF) is the ultimate parent company of a fund management group trading under the MAM, MAM Funds, Midas Capital Partners and Miton Asset Management fund brands.|