New Star Asset Management Share Discussion Threads

[sprattyken] 01/12/2008 21:34

No, that's a fair enough way of looking at it.

Charges levied on customers of up to 2% per annum depending on the fund. Once the mandates are large enough to cover your fixed overheads the actual running costs are pretty low. That's how they derive profits.

Outflows are bad news, along with falling asset prices. If they can't keep going as they are, and they have reduced staff etc, then it will get taken over.

[hamsterape] 01/12/2008 18:56

pame100 - 25 Nov'08 - 17:55 - 236 of 268

Actually I think I got the noughts mixed up, now get a figure of 2p for every £1 under management. But still, times are tough, and a competitor may not want to pay that for what he may be able to pick up cheaper shortly.

Any better evaluations welcome. I multiplied the 16p share price by the no of shares of 269m, then added the debt of £236m. Then divided all that into the assets under management of £14.3b. That means that you buy £51 of assets for every £1, or, £1 of assets for 2p

Are you insane?

The assets are "under management" not "owned". The investors in the fund(s)
are the ultimate owners of the assets. NASM just derive a fee for managing them,
hence their name.

[mryesyes] 01/12/2008 18:56

Does anyone hold enough stock to care if it ever returns?
If so identify yourself so we can all have a laugh at you

[westcoastrich] 01/12/2008 18:03

Among fund managers, New Star Asset Management dropped 6.01p to 7.99p as it tried and failed to have its shares suspended while it discussed a debt for equity swap with its bankers.



230m of debt ---------------> toilet

[sprattyken] 01/12/2008 17:38

Nothing. I only have 15000.

Let's hope meeting with their bankers go better than the rest of us!

[asmodeus] 01/12/2008 16:40

And then what happened?

[sprattyken] 01/12/2008 15:21

I was thinking about closing my small punt.....

[robizm] 01/12/2008 14:09

10% of shares turned over already- not ramping but a lot of buys going through. Maybe a small punt.

[undertaker] 01/12/2008 13:53

Bit of an over-reaction down to 5p i think.

[robizm] 01/12/2008 13:32

It is moving back up slowly, I would love to know a little inside info on this.6% of the company traded.

[sprattyken] 01/12/2008 12:53

Or to put it another way - share price has fallen 90% and then fallen another 90%.

[sprattyken] 01/12/2008 12:29

I must admit it's quite impressive for an asset management company to fall 99% in 18 months.

Duffield has a certain reputation.......

[ihavenoclue] 01/12/2008 12:29

£5 to 5p in 16 months ... impressive

[sabre1_98] 01/12/2008 11:40

death star asset management lol

[robizm] 01/12/2008 11:02

Doubt if that would happen Sprattyken, company can trade out of trouble with the help of its banks or it is finished as it owes 236 million.

[sprattyken] 01/12/2008 10:59

Talk of debt for equity swap to allow a takeover.

[knitcraft] 01/12/2008 10:42

This company is finished IMHO and shares are worthless.Time will tell

[sprattyken] 01/12/2008 09:49

Just got some more.

[mercier et camier] 01/12/2008 09:34

Seems like a great buying opportunity to me.

[sprattyken] 01/12/2008 09:28

Don't remember seeing this before.

Will Duffield take it private at these levels? Or will the other asset managers just watch it fail and pick up mandates from the administrators......

[patricktrfc] 01/12/2008 09:23

"Further to the earlier announcement today, the UKLA has denied New Star's request for a suspension of trading in its ordinary shares. "


Never seen that happen before, has anyone else?

P

[sprattyken] 01/12/2008 09:17

Whoops

Who's going to come in for them?

And at what price?

Brave to top up from here.....

[happygolucky] 01/12/2008 09:00

Can only guess that it's a screw up by either the co or LSE - there isn't an official list RNS re suspension, so it looks like either the co have forgotten to contact LSE to request suspension, or the LSE have forgotten to action it..

Either way, the price is falling as everybody rushes for the exits....