Phoenix Share Discussion Threads

[rcturner2] 13/7/2017 14:38

When my son was about 3 I used to let him answer the phone to practice his talking, some of the conversations were actually golden. The best one was when the caller said "is that Claire Turner?" and he said "yes this is Claire Turner"!

[my retirement fund] 13/7/2017 14:35

I dont have any friends at all so when my phone rings I know its a spam call and so I dont need to answer it.That said it is nice to answer some of these calls just ti talk to someone now and then.

[alter ego] 13/7/2017 13:55

finkwort, you can stop these nuisance calls. I just bought a BT 8610 phone. Only numbers in your contact list get straight through. Others have to say who they are and you hear this before you decide to accept or ignore the call. Most cold callers don't even bother. Any automated recorded call fails at the first hurdle because it can't speak its name. Might be worth a look. Since I've had this phone, it has blocked every nuisance call.

[lauders] 01/7/2017 01:58

Good to see that things continue to plan:

Phoenix Life confirms rebranding of AXA Wealth to Phoenix Wealth

[lauders] 17/6/2017 01:32

Webcast available now:

Investor relations say transcript early next week.

[lauders] 16/6/2017 09:57

The presentation slides will be available on the Company's website www.thephoenixgroup.com at the same time as the presentation. A replay and transcript of the event will be available on the website after the event.

What has happened to the bold part?

[jonwig] 14/6/2017 11:47

The Investor Day presentation, today:

[lauders] 12/6/2017 12:09

TMF articles are not exactly the best to take seriously I agree. However they are out there and people do take notice of them. While all the details may not be factually correct, not good as you state Hyden when being paid to produce them, I don't dismiss them entirely either as they may provide guidance on sentiment or mention something I was not aware of before. Take the good with the bad and apply the filters. Long term I think they are correct about the patience and Gary seems to agree too. Appreciate your input too edmundshaw.

[edmundshaw] 11/6/2017 20:10

How management generate cash from the closed funds is actually quite interesting and varied. The last presentation gives a good view of it, but it is not just synergies and risk reduction (though those are important contributors). One way, for example, is to inform people how they can cash in investments where it is appropriate, so PHNX then do not have to hold so much cash/investments against future liabilities and can reduce the buffer (so cash is freed up for distribution).

[jonwig] 11/6/2017 18:23

Hyden - I never read the Fool articles, they've always been very shallow and - at best - written for beginners. The discussion boards were generally excellent, but have been discontinued because, I assume, they were unprofitable.

[hyden] 11/6/2017 18:03

A very poor article in my opinion Lauders, clearly written by someone who has no understanding of the business. PHNX absolutely does not 'decommission' closed life funds, it actively manages them for the benefit of policyholders and shareholders. Synergies come through economies of scale and a pooling of risks.

And it is the capital released (and anticipated to be released) from the recent acquisitions that have allowed for the one-off increase in dividends.

There's no excuse for sloppy journalism. If they get paid for it then at least they should put in the effort to research the stock and sector properly. I am glad I don't subscribe and I certainly have no intention of doing so with sloppy journalism such as that.

[garycook] 11/6/2017 04:07

Launder,s I have held PHNX,since Nov 2013.Purchased at 649.90p,and was lucky to purchase some more on the 28/03/2014 at 564.46p,because on that day PHNX dropped with other Life Insurers that day,the reason I cannot remember.Maybe Solvency ratios,not sure.Also I took up my rights in full at 5.08p.Now PHNX are a lot stronger and wealthier company at present due to recent acquistions.You have made a sound investment in PHNX,and locked in a yield of 6.63% at 757p, with the proposed 50.2p annual dividend.Try getting that return with other Life Insurers atm,besides HSD,but they are reducing there divided payment by half to yield 5% next year.This a a rock solid company with good management.That is why you decided to invest in it.Motley Fool are only good for information,and one man,s opinion.But not a fair summary by MF..I will talk with you again when PHNX reach £9.AIMHO

[lauders] 11/6/2017 02:24

RCT = Some people prefer others to manage their money and do not have the time to follow boards like us or don't have any interest. Guess they follow a name and let's face it Mark Slater is a big name in the financial world. Hence they trust his funds and will pay for it. Plenty do, so it would appear, so I doubt they are too worried about the charges.

One PHNX related link:

From the ashes

FTSE 250-listed Phoenix Group (LSE: PHNX) is a niche operator in the financial services industry, as the UK’s largest consolidator of closed life funds. That means it specialises in acquiring and managing closed life and pension funds and it’s a big business, with 6.1m policyholders and £76bn of assets. Recent acquisitions include big names such as Abbey Life, AXA Wealth and distribution business SunLife.

Phoenix makes its money from decommissioning closed life funds, including with-profits funds, which may sound like a dying business but closed funds will be an issue for decades to come, and policyholders need Phoenix to secure their interests, and their money.
Cash cow

Investors in Phoenix, which has a market cap of £2.95bn, have done well over five years, doubling their money. However, the last 12 months have been patchy, with the share price going nowhere. Yet at the same time the yield has surged to 6.22%. One reason is that Phoenix throws off growing sums of cash, generating £486m in 2016, double its 2015 total of £225m.

That allowed management to fund a 5% dividend hike for 2016, as its £373m acquisition of AXA Wealth’s pensions and protection business and £933m purchase of the Abbey Life business have generated synergies and boosted cashflow. The company’s strengthened Solvency II surplus, shareholder capital coverage ratio and rise in group operating profit from £324m t0 £351m in 2016 also impress.

Management has upgraded its long-term targets for cash generation from £2bn to £2.8bn for 2016-2020, which should improve its non-existent dividend cover, currently -0.7%. However, growth prospects look patchy with earnings per share (EPS) expected to be flat in 2017, then to fall 2% next year. A forecast valuation of 16.9 times earnings hardly excites, given these challenges. Phoenix will rise again, but you may have to be patient.

I can be patient with this one.

[rcturner2] 10/6/2017 11:45

I cannot believe that anyone would invest in that fund with these charges:

Charges
Initial: 5.25%
Annual Management Charge: 1.5%
(deducted from capital)
Ongoing Charges 1.55%

Unreal.

[garycook] 10/6/2017 04:30

Launders,Also holding ITV,along with CNA,GSK,LGEN,and RDSB..

[lauders] 10/6/2017 04:25

That all sounds good to be Gary! I am in no hurry and will enjoy the yield while I hold.

You are correct about it being MS's largest holding:

I also hold ITV from the top ten holdings.

[garycook] 10/6/2017 03:52

Lauders,From memory I believe that PHNX are Mark Slater,s top holding now.I also purchased some PHNX for my son,s ISA,a few weeks ago at 741p.and I strongly believe PHNX is a great core holding,and will eventually rise back to the £9 level,and later £10. AIMHO.

[lauders] 09/6/2017 12:09

After an initial dip it is good to see some strength here today.

[garycook] 08/6/2017 16:14

stun12,Park it in HSD 90p,for a 10% yield atm,But will be halved next year.Crystal Amber I have just noticed have taken a 3% holding of the CRS funds in HSD.Could be around a 25% growth has well to 120p Risk/Reward.Just a thought and only trying to help.DYOR

[stun12] 08/6/2017 10:37

Indeed, Lauders. I'm quite conflicted as to whether I want the share price to rise or not, as a substantial increase would suggest that I should take some profit whereas I'm really here for the yield. Then I would have to find somewhere else to park my SIPP funds.

[lauders] 08/6/2017 10:14

I now own some PHNX bought at 757p per share plus costs. We shall see what happens after the election results and whether it was a good decision or not. Long term I am not too worried and I bought for the dividend as one of my main reasons anyway.

[garycook] 05/6/2017 07:42

RCT2,Sounds good.I believe you have the correct focus atm,but nice to have some dry powder available,if there is a retrace.

[rcturner2] 05/6/2017 07:33

My SIPP is fully invested (small caps and PE funds mainly). My ISAs are 25% cash at the moment.