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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mercia Asset Management Plc | MERC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.20 | -0.59% | 33.50 | 16:05:51 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 33.70 | 33.50 | 33.70 | 33.50 | 33.70 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 28/11/2023 | Interim | GBP | 0.0035 | 07/12/2023 | 08/12/2023 | 10/01/2024 |
| 04/07/2023 | Final | GBP | 0.0053 | 28/09/2023 | 29/09/2023 | 27/10/2023 |
| 06/12/2022 | Interim | GBP | 0.0033 | 15/12/2022 | 16/12/2022 | 04/01/2023 |
| 05/07/2022 | Final | GBP | 0.005 | 22/09/2022 | 23/09/2022 | 11/10/2022 |
| 07/12/2021 | Interim | GBP | 0.003 | 16/12/2021 | 17/12/2021 | 31/12/2021 |
| 06/07/2021 | Final | GBP | 0.003 | 23/09/2021 | 24/09/2021 | 12/10/2021 |
| 01/12/2020 | Interim | GBP | 0.001 | 10/12/2020 | 11/12/2020 | 30/12/2020 |
| Top Posts |
|---|
Posted at 10/4/2024 08:13 by robsy2 Thanks Rimau, very efficient!This deserves to re-rate to a more normal valuation.Nothing generous.How about NAV -35% to give us 42p, with a cash covered and growing dividend of around 2% and scope for capital gains on successful exits. |
Posted at 21/3/2024 18:53 by robsy2 Yep. This is really perking up now and none of this is to do with exits.It pays a pretty reasonable dividend as well. |
Posted at 21/3/2024 07:20 by rimau1 2 new mandates won with BBB and importantly they disclose that the NIM on the awards with BBB are 110bps which is good to know, 4m incremental revenue on ytd awards of 360m. Merc is flying! |
Posted at 13/3/2024 07:52 by rimau1 Good spot Robsy2, announced this morning. Merc really do appear to be flying and i have no bear case to counter my bullishness here. Even in an election year Merc will benefit from a potential change in government. Any thoughts to burst my bubble? |
Posted at 29/2/2024 20:07 by rimau1 BBB will (and should) get a lower margin for sheer size of assets flowing in. Merc are in the growing scale phase and FUM attracts more FUM. Remember this is all annuity re-occuring multi-year income. Its excellent news and Merc are carving out a nice niche whilst remaining under the radar. |
Posted at 29/2/2024 13:59 by spectoacc Only reservation is their description of the process being "..Very competitive..", it implies minimal profit to me.But MERC looks underrated even without today's - and possible impending - wins. At the very least, it's reputational and adds to AUM. |
Posted at 29/2/2024 08:06 by rimau1 Worth an extra £4m of asset management income pa - I assume a blended 200bps on FUM from previous results so that is a decent proxy. This is good news as we should exceed FY24 inflow and FUM targets now. Surprised it was labelled a highly competitive process as i thought Merc were the default choice for BBB but excellent news. Expecting outperformance across all metrics this year and £2m of extra interest income to help our profitability. |
Posted at 10/1/2024 13:59 by spectoacc Mixed views on buybacks too, but if the discount is (genuinely) wide enough, can be the best/most accretive use for cash.Finally looks a keener market in MERC today. |
Posted at 20/11/2023 09:55 by robsy2 Glad I topped up now , though I am still well under water here.conclusion form Cannacord thsi morning; Valuation and recommendation We shall review our forecasts and valuation more fully at the time of the interims (28 November 2023) but note the resilience of Mercia's FUM, relative to other asset managers experiencing outflows currently. We also note that Mercia is trading at a c.52% discount to NAV. Importantly, it has only ever been at this level of discount once before, in March 2020. This was no doubt in anticipation of the fair value write-downs referenced above for that year. Subsequently, the shares gained 170% over the following 20 months. Given that we do not expect to see a repeat of those fair value write-downs, and that the business is arguably in better shape than it ever has been, due to: i) its proven ability to deliver strong realised gains; ii) better quality of earnings, due to a rapidly growing and profitable asset management business; and iii) a lot of dry powder to support existing investments, we retain our conviction BUY on the stock. In addition, the dividend yield is just over 4%. Our target price of 61p implies 177% upside. |
Posted at 13/7/2023 11:06 by robsy2 I have added a few more this morning. I blow hot and cold with MERC but still see it as a broadly bullish story especially at this low level.What do we know? MERC is profitable , pays a 3.3% dividend and has a lot of irons in the fire. The share price has been lousy but the business is performing pretty well . The hybrid model of Balance Sheet investment, cherry picking opportunities,combin They are delivering and see a lot of opportunity to deliver more. They have added extra funds and capacity at good prices.They seem to be good at what they do, the VCT's perform well and continue to gather more and more capital. The network of regional offices and 140 staff means they are good at deal origination. They see the business as being quite scaleable which is good news . The British Business Bank (BBB) is a useful partner, in fact MERC manages around 25% of all the money they invest and they are adding more. One thing I asked them at the last presentation meeting was about how they feel they might benefit from some of the potential changes designed to get more investment money flowing towards small caps , venture capital etc especially from pension funds, the so called Mansion House reforms- they didn't really address the question, however these reforms are in the making and coming soon. My feeling is that MERC might be well placed to get their hands on more of the fund flows into Venture capital and in time this could be quite significant.Pension funds don't have any expertise in this area of investment and MERC do, so why not award them some mandates? |
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