Phoenix Investors - PHNX

Phoenix Investors - PHNX

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Stock Name Stock Symbol Market Stock Type
Phoenix Group Holdings Plc PHNX London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
9.00 1.32% 691.80 16:35:06
Open Price Low Price High Price Close Price Previous Close
686.20 685.60 692.00 691.80 682.80
more quote information »
Industry Sector

Top Investor Posts

rcturner2: I'm sure there is a massive crossover with investors who have holdings in PHNX, LGEN and AV.
ptolemy: A problem for the technical investors will be the multiple H&S pattern formations. Each suggests a lower price if further support is broken. I hold PHNX.
krowelet: If the uk market was run like the aussie market these would have been suspended some days ago pending the announcement which has now come,a bit of transparency is the only fair way to treat investors imo.
laurence llewelyn binliner: The book runners built that sale in a matter of hours, no shortage of investors II or PI happy with a 7% return.. I see I am far from the only 1 that recognised the opportunity to add at 08:01 .. :o)
jonwig: It depends (of course!) - the 2020 Annual Report has lots about sensitivities (eg p222), and of course inflation calculations ar connected with interest rate assumptions. You can download it here;
masurenguy: A 6.7% rise over the past 2 weeks. Yielding 6.2% to new investors at yesterdays close but over 7% to longer term investors. 😊
bluemango: Agree with jonwig. Search ability over a long period trumps the thread name. And if potential investors were so easily put off by the thread title, I'd question whether they should be looking here at all.
energeticbacker: Investor's Champion comments: We've admired this business for some time and remain confident in the outlook for the shares. But we would be remiss to point out that for outside investors, this business is something of a black box. Asset valuations and estimates of future cash flows are difficult - if not impossible - to verify independently. Phoenix features in Investor's Champion's update on their Income Boosters portfolio.
speedsgh: Think stamp duty has been payable since the holding company became tax resident in the UK... "The current Group holding company structure was formed at the time of the Group's restructuring in 2009. Under the current structure, Old Phoenix is a Cayman Islands-incorporated company which, with effect from 31 January 2018, is tax resident in the United Kingdom (having previously been tax resident in Jersey). This structure is complex for the Group's shareholders, debt investors and regulators and imposes additional burdens on the Group's internal governance processes. On 25 August 2016 Old Phoenix announced that, as part of an ongoing group simplification process, it intended to put in place a new UK-registered holding company for the Group. This Scheme is now the final step in the Group's onshoring journey which has delivered a streamlined and cost-efficient internal governance structure and will result in a clearer structure for the Group's shareholders, debt investors and regulators."
skinny: Yes pretty good - "strong" and "exceeding" are mentioned several times! Capital Markets Day, strong trading update exceeding 2020 cash generation target, and setting net-zero carbon targets Phoenix Group ("Phoenix"), the UK's largest long-term savings and retirement business, is today hosting a Capital Markets Day for investors and analysts, which will include presentations by Phoenix's management team. The purpose of the event is to provide greater insight into Phoenix's strategy and financial framework. The presentations will also include a series of deep dives into how its businesses are being managed to deliver sustainable cash, resilience and growth for investors. Alongside this, Phoenix today announces a strong trading update with 2020 cash generation ahead of target. Commenting on the results, Group CEO, Andy Briggs said: "Phoenix has continued to perform strongly with full year cash generation of GBP1.7 billion now complete, exceeding the top end of our target range. Our balance sheet remains resilient, underpinned by our high-quality portfolio of assets and unique approach to risk management, and our shareholder capital coverage ratio of 159% remains robust. As we execute successfully against our strategy, I am confident that we will continue to deliver cash, resilience and growth, and therefore sustainable cash generation for investors. We also recognise that Phoenix has an important role to play in society and today we are announcing our commitment for our operations to become net-zero carbon by 2025 and for our investment portfolio to do so by 2050. Sustainability is at the core of our purpose and reducing our environmental impact will be integral to delivering long-term value for all of our stakeholders." Financial Highlights - Phoenix continues to deliver cash, resilience and growth Strong cash generation -- GBP1,713 million of cash generation(1) in 2020 (2019: GBP707 million) exceeding the upper end of the 2020 cash generation target range of GBP1.5 billion - GBP1.6 billion. Resilient Solvency II balance sheet with increased surplus -- Solvency II surplus increased by GBP0.6 billion to GBP5.0 billion(2) as at 30 September 2020 from GBP4.4 billion(3) at 30 June 2020 on a pro-forma basis, driven in part by the successful delivery of management actions. -- Shareholder Capital Coverage Ratio(4) of 159% as at 30 September 2020 (150% as at 30 June 2020 on a pro-forma basis), at the midpoint of the Group's target range of 140% - 180%. Robust, high-quality credit portfolio -- 98% of GBP35 billion shareholder debt portfolio is investment grade; 21% is rated as BBB with only 2% of the portfolio rated as BBB- as at 30 September 2020. -- Limited downgrade experience to date with only GBP1.6 billion (4.5%) of bonds in the GBP35 billion shareholder debt portfolio subject to a downgrade which changed the letter rating, and GBP148 million of bonds (0.4%) being downgraded to sub-investment grade. -- 99.3% of all contractual cashflows paid on the GBP9.3 billion illiquid asset portfolio. Growth through Open business -- GBP472 million incremental long-term cash generation from new business in the 9 months ended 30 September 2020 (FY 2019: GBP483 million(5) ) including: - GBP300 million from BPA (FY 2019: GBP235 million); - GBP94 million from Workplace (FY 2019: GBP155 million); and - GBP42 million from Customer Savings and Investments (includes Wrap and Retail business) (FY 2019: GBP59 million). Further financial disclosures are provided in the appendix to this announcement and all financial results are available in the financial supplement which can be accessed through the following link: Phoenix has committed to becoming net-zero carbon by 2050 Phoenix recognises its responsibility in driving forward its commitment to sustainability, and in particular the importance of reducing greenhouse gas ("GHG") emissions and accelerating the transition to a low carbon economy. As such, today we are setting net-zero carbon targets in two phases: -- Phase 1: Operations: we are committing to ensuring the Scope 1 and 2 emissions of our occupied premises and the Scope 3 emissions from business travel are net-zero carbon by 2025. -- Phase 2: Investment portfolio: setting a net-zero by 2050 target for our investment portfolio. We will take into account the best available scientific knowledge in this process. Therefore, in relation to our operations, we will set and pursue a 1.5degC aligned science-based emissions reduction target, with any remaining hard-to-decarbonise emissions compensated using certified GHG removal projects. In relation to our investment portfolios, where we have the ability to influence the investment strategy or investment solution, we will aim to reduce the emission intensity to net-zero GHG emissions by 2050. This is also consistent with the objective of limiting the temperature rise to no more than 1.5degC above pre-industrial temperatures and is in line with the Paris Agreement and the commitment of the UK Government. We will do this by: -- Increasing our investment in assets that support the transition to a low carbon economy; and -- Using our position as a significant asset owner to engage with investee companies and promote alignment to the Paris Agreement. We will reduce or ultimately eliminate our exposure from companies that show little progress following sustained engagement. Presentation We will be hosting our live virtual Capital Markets Day for analysts and investors today at 2.00 pm (GMT). A link to the live webcast of the presentation, with the facility to raise questions, and a copy of the presentation will be available at You can register for the live webcast at the link below: A video replay of the presentation will be available through the Phoenix Group website post-event.
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