Share Name Share Symbol Market Type Share ISIN Share Description
Premier Asset LSE:PAM London Ordinary Share GB00BZB2KR63 ORD 0.02P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 275.00p 272.00p 278.00p 276.00p 272.00p 276.00p 36,544 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 46.0 11.5 8.5 32.2 290.95

Premier Asset Share Discussion Threads

Showing 51 to 73 of 75 messages
Chat Pages: 3  2  1
DateSubjectAuthorDiscuss
20/7/2018
16:07
PAM fund factsheets (excl listed ITs) have been updated to end June. Sum of fund AuM as at 30 Jun is £6,442.9m as compared to £6,417.2m as at 31 May which is +£25.7m or +0.4%. AuM increased at 13 of 23 funds with Defensive Growth (-£14.6m) the largest decliner. Multi-asset series was +£13.4m or 0.4% and +£698.9m or 24.2% YoY. YoY retail fund AuM is +17.5%. The above excludes listed investment trusts and discretionary mandates. Fund level AuM doesn't distinguish between market performance and net inflows. As at 30 Jun, UK retail funds (excl listed ITs) were 95.1% of the £6,772.9m of corporate AuM.
gsbmba99
11/7/2018
18:33
Yes, doing exceptionally well.
topvest
10/7/2018
07:33
Trading statement out this morning. I get quarterly sales of £585.2m, redemptions of £383.2m with net sales of £202m. Market performance in the quarter was +£205.6m. YoY AuM growth was a healthy 15.9%.
gsbmba99
27/6/2018
09:46
Does anyone understand why PAM has become so volatile? The bid price seems to fall through the floor on pretty minute volumes. It just dropped 14p. Is this now on an order driven system instead of quote driven? Seem to be alot more "algo" trades now. This all seems a very recent phenomenon.
gsbmba99
21/6/2018
15:01
PAM fund factsheets (excl listed ITs) have been updated to end May. Sum of fund AuM as at 31 May is £6,417.2m as compared to £6,275.2m as at 30 Apr which is +£142.0m or +2.26%. AuM increased at 19 of 23 funds with Defensive Growth (-£17.1m), Income (-£5.2m) and UK Money Market declining. Multi-asset series was +£116.7m (of which Multi-asset Distribution +£69.9m). Financial year to date, AuM is +£667.2m or +11.6%. YoY retail fund AuM is +16.8%. The above excludes listed investment trusts and discretionary mandates. Fund level AuM doesn't distinguish between market performance and net inflows. As at 31 Mar, UK retail funds (excl listed ITs) were 94.8% of the £6,365.3m of corporate AuM.
gsbmba99
09/6/2018
18:05
Http://www.morningstar.co.uk/uk/news/168072/3-aim-stock-picks-asset-managers.aspx From IPX thread since the 3 picks are IPX, MGR and PAM. An excerpt: Nickols says it’s seen as a “pretty lean, well-managed business”, which should keep costs to a minimum and help with cash generation. “The key attraction here is that you’ve got an in-house multi-asset proposition, which seems to be delivering consistent performance and certainly is gathering assets consistently as well,” he adds.[end] Nickols is Dan Nickols of Old Mutual Smaller Companies.
gsbmba99
18/5/2018
17:39
Yes I think there will be an increasing demand for all in one investment solutions given the demise of defined benefit schemes and annuities, so PAM look well placed to capture that. Miton also has a multi asset range although I think only around a quarter of their AUM. I switched out of Liontrust to Miton a few weeks ago, as I slightly prefer the funds and was also a lot cheaper, although has rallied quite a bit recently so probably less of a gap now. The other one I was keeping an eye on was Impax - huge inflows driven by the intense interest in responsible investing - my only concern here is whether they can actually invest those inflows in what is quite a niche asset class (I've seen many times where fund managers basically can't cope with inflows and performance suffers).
riverman77
18/5/2018
15:58
Thanks for these very useful updates. Inspired by your example have been carrying out similar exercise for Miton, the small cap specialist, and have been seeing some extremely encouraging inflows and strong performance across the range, also a bit cheaper than PAM especially on a market cap to AUM measure, not sure if this name was on your radar?
riverman77
18/5/2018
15:48
PAM fund factsheets (excl listed ITs) have been updated to end April. Sum of fund AuM as at 30 Apr is £6,275.2m as compared to £6,035.4m as at 31 Mar which is +£239.8m or +3.97%. AuM increased at 21 of 23 funds with Multi-asset Distribution flat and Corporate Bond Monthly Income AuM down 0.4%. Diversified and Diversified Income both had >10% gains in AuM and Optimum Income (which targets a 7% distribution) gained nearly 10% in AuM. Financial year to date, AuM is +£525m or +9.1%. The above excludes listed investment trusts and discretionary mandates. Fund level AuM doesn't distinguish between market performance and net inflows. As at 31 Mar, UK retail funds (excl listed ITs) were 94.8% of the £6,365.3m of corporate AuM.
gsbmba99
17/4/2018
13:46
PAM fund factsheets (excl listed ITs) have been updated to end March. Sum of fund AuM as at 31 Mar is £6,035.4m as compared to £6,110.1m as at 28 Feb which is -£74.7m or -1.22%. AuM increased at 8 of 23 funds. The above excludes listed investment trusts and discretionary mandates. Fund level AuM doesn't distinguish between market performance and net inflows. As at 31 Mar, UK retail funds (excl listed ITs) were 94.8% of the £6,365.3m of corporate AuM.
gsbmba99
10/4/2018
07:24
Trading statement out this morning. A bit naughty as they've rolled up the March quarter into a 6 month period as opposed to dislosing it discretely. I get sales of £564m, redemptions of £389m with net sales of £175m. Market performance in the quarter was -£255.9m and outweighed net sales to result in a small decline in AuM for the quarter. Trailing 12 month market performance is -£12m. YoY AuM growth was still a healthy 15.1% but is the lowest in my spreadsheet which dates back to calendar Q413 (second lowest 16.9% in calendar Q216). Net sales encouragingly strong in an otherwise pretty terrible quarter.
gsbmba99
14/3/2018
16:43
PAM fund factsheets (excl listed ITs) have been updated to end February. Sum of fund AuM as at 28 Feb is £6,110.1m as compared to £6,141.7m as at 31 Jan which is -£31.6m or -0.51%. AuM increased at 10 of 23 funds. The multi-asset series gained AuM in aggregate with (maybe unsurprisingly) absolute return proving popular (AuM +8.4%) and each of the Liberation funds also gained (none meaningfully). Not sure what a good benchmark is but MSCI UK was -4.75% in Feb and is -5.31% YTD through Feb. PAM.L is essentially flat AuM through the first two calendar months which strikes me as very good relatively speaking. The above excludes listed investment trusts and discretionary mandates. Fund level AuM doesn't distinguish between market performance and net inflows. As at 31 Dec, UK retail funds (excl listed ITs) were 94.7% of corporate AuM.
gsbmba99
15/2/2018
18:21
PAM fund factsheets (excl listed ITs) have been updated to end January. Sum of fund AuM as at 31 Jan is £6,141.7m as compared to £6,104.5m as at 31 Dec which is +£37.2m or +0.61%. AuM increased at 16 of 23 funds. All six funds in the multi-asset series gained AuM. Looks good in the circumstances but Feb perhaps more revealing. The above excludes listed investment trusts and discretionary mandates. Fund level AuM doesn't distinguish between market performance and net inflows.
gsbmba99
08/2/2018
17:57
The Investment Association published their Dec and 2017 figures today ( Https://www.theinvestmentassociation.org/assets/components/ima_filesecurity/secure.php?f=press/2017/stats/stats1217-12.pdf ). Some interesting items of info based on a casual flip through. Total funds under management exceed £1.2tn. Mixed asset about 16.3% of FuM at £222bn (p.3). Retail net sales had a staggeringly good year at nearly £47bn (p.4) (some of which probably a bounce from a very low 2016). Mixed asset about 25-30% of net retail sales for 2017 (p.6). Mixed investment (20-60% shares), mixed investment (40-85% shares) and targeted absolute return each are in top 7 sectors for net retail sales for 17 (along with strategic bond and corporate bond) (p.8). The best selling sector in the last 10 years - mixed investment (20-60% shares) 4x, corporate bond 2x, targeted absolute return 2x, strategic bond 1x, equity income 1x (p.10). Worst selling sector in 7 of last 8 years - UK all companies. There seems a quite heavy focus on income producing assets amongst chart-topping sectors.
gsbmba99
19/1/2018
20:34
Picked up another 1k shares just before the close. I had a little bit of spare cash in my SIPP so thought I'd put it to some use. Happy to ride the up trend for a while as part of this incredible bull run
villarich
10/1/2018
15:10
FWIW, I don't have access to the full-text of the report but I got a notification from Research Tree of a Liberum note with the headline "Strong Q1'18 trading update in line with our forecasts"
gsbmba99
10/1/2018
13:06
Hypothetically speaking, if one applied the 32% first quarter dividend YoY growth to last year's total dividend of 8p one would arrive at 10.56p which would be, I believe, very consistent with consensus.
gsbmba99
10/1/2018
10:14
Happy to incite :-) Just looking through spreadsheet again. Net management fee margin was 73.9bps for 9/17. Using average AuM for Q1FY18, net revenue should be about £11.6m. Using full year 9/17 "clean" operating profit margin (operating profit (excl trail commission and amort of acquired intangible assets) divided by management fee less trail commission ie net mangement fee) of 35%, "clean" operating profit should have been in the region of £4.05m.
gsbmba99
10/1/2018
09:03
gsbmba99 - Very helpful. I appreciate your incite. I am happy to hold.
martinthebrave
10/1/2018
08:36
I'm not entirely sure what to make of the divi. It is, after all, +32% on last year which should be encouraging. The divi policy is for three quarterly divis representing approx half and a final representing approx half. So, on a strict interpretation, that leads to 1.65p * 6 = 9.9p. However, last year the strict interpretation led you to project 7.5p and it turned out to be 8p because the final was 4.25p instead of 1.25p*3=3.75p. I'm still encouraged by the divi growth even if it doesn't quite align with broker forecast at the moment. I haven't met the management team but my sense, from reading relatively cautious outlook comments in the middle of this market is that they are being conservative. The AuM growth is good and it should lead, assuming it continues, to good financial performance.
gsbmba99
10/1/2018
08:27
Martin, drawing conclusions on Rev, PBT, EPS is really difficult for PAM on the basis of an AuM update. If you look through the accounts, you'll notice that PAM statutory revenue is inflated by the collection of trail commissions on pre-RDR share class holdings. It's about £5m/year. The trail commissions then get paid out to the brokers as a cost. As a result, there's about £5m coming in and going out that distort the comparisons. Rev growth looks flatter than net revenue growth because trail commissions are reducing over time. Cost growth looks flatter than costs excl trail commissions because trail commissions are reducing. I would tend to focus on YoY growth in AuM (23.8%) as this should drive net revenue growth of 23.8% (assuming no erosion of net revenue margin). With a bit of margin expansion (revenue growth > cost growth), PBT can grow faster than net revenue. Net revenue margin actually increased by a couple of bps in 9/17. For what it's worth, net revenue for Q1FY18 should be about £11.75m using 75bps and average AuM for the period.
gsbmba99
10/1/2018
07:58
gsbmba99 - The performance seems strong but I find this update pretty difficult to compare to forecast Rev, PBT, EPS etc. The f'cast Divi is 10.62p. You are closer to this, do you have any views?
martinthebrave
10/1/2018
07:24
AuM update with first quarter dividend announcement. FYQ118 period end AuM of £6.45bn +23.8% on prior year, an increase of £1.24bn. That £1.24bn derived from £397.1m of market performance and £842.7m of net sales. Net sales of £236.4m is the fourth strongest quarter. In 6 of last 7 quarters, gross sales have exceeded £0.5bn. First quarter divi of 1.65p (ex 1 Feb, pay 2 Mar) a bit less than I had been anticipating. It points to 9.9p using a 1.65p * 6 "formula" though the total divi last year was better than this "formula" would have indicated because the final divi was larger.
gsbmba99
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