- October 10, 2012
Turnaround opportunity with a British asset manager preparing to apply the concept of a Multi-Manager Platform to the UK market
During the three-year period of 2008-2011, this British asset management company with GBP 4.1bn in client assets, saw an extraordinary level of conflict among shareholders and management. Warring major shareholders, truly awful media reports, the regulator launching an investigation into alleged “acting in concert”, and CEOs being replaced faster than you were able to keep track of – this company has seen it all. However, since mid 2011, the company has entered quieter waters, which few market observers have noticed yet.
Since I first pointed out the company’s new situation in early January 2012, the share price has risen solidly; from 115p to 153p. The rise is partially driven by the ongoing efforts to have the company emulate aspects of the successful model of Affiliated Managers Group (NYSE:AMG), a US asset management giant that, since its inception in 1997, has produced annual compound earnings growth of 14%. It has done so by utilising a low risk strategy to buy stakes in other asset managers and growing its existing divisions organically using a highly synergistic platform approach.Read More
Interesting articles I have been reading lately:
- October 7, 2012 The Economic Collapse Blog
- The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs
Back in 1952, a full year of tuition at Harvard was only $600.Today, it is over $35,000.
- October 7, 2012 Bloomberg
- Nobel Winner Stiglitz Says Time Running Out for Europe
Will the whole system fall apart after all?
- October 5, 2012 Bloomberg
- Spain Sees Divorce Driving Breakup of Towns in Recession
- A captivating summary of the new reality of life in Spain.
- October 5, 2012 NYMAG.com
- Clueless Capital: An Interview With the World’s Youngest, Most Charmingly Oblivious Hedge Fund
- October 4, 2012 Bloomberg
- Iron Ore Heads For Bear Market: Commodities
- Steel is the barometer of China’s economy.
- October 2, 2012 FT
- M&A on rise for wealth managers
- Watch out for hostile take-overs among quoted asset managers – coming to a theatre near you soon.
- October 2, 2012 Bloomberg
- Hobbit Returns to Find Middle Earth Has Become Expensive
- A Hobbit effect for the Kiwi economy?
- September 28, 2012 Yahoo Finance
- Chinese shipping companies order 50 supertankers
- Is it a bubble create by badly managed state-owned shipping companies, or will the demand for oil know no bounds?
- September 25, 2012 The Christian Science Monitor
- Could you live in 150 square feet? Cities try out micro-housing.
- What a cute idea, but it will never take off.
- September 25, 2012 MSN
- Worldwide bacon shortage coming
- Clear some room in the freezer and start stocking up!