Spain Fund
01 Dec 2015
Re: Beauforts Security I doubled my holding yesterday having unloaded it at 366.55 towards the of end October.
Hardboy
01 Dec 2015
Beauforts Security Are bucking the trend with a buy recommendation: -Aberdeen Asset Management (ADN.L, 319.40p) - BuyYesterday, Aberdeen Asset Management (Aberdeen) declared its unaudited results for the year ended 30th September 2015. Net revenue advanced 5% to £1,169.0m in 2015 (2014: £1,117.6m). Pre-tax profit increased to £491.6m (2014: £490.3m), while EPS fell to 22.2p against 23.5p in the previous year. Assets under management at the end of period stood at £283.7bn (2014: £324.4bn). Operating cash flow and cash at the end of period stood at £531.7m (2014: £543.8m) and £567.7m (2014: £653.9m), respectively. On the operational front, the company acquired FLAG Capital Management for a consideration of £62.6m. Aberdeen expects to complete the acquisition of Arden Asset Management and Parmenion Capital Partners by the end of 2015. The company completed the acquisition and integration of the SWIP business. Aberdeen issued £100 million of non-voting, perpetual, non-cumulative, redeemable preference shares during the year. The company has proposed a final dividend of 12p, taking the total dividend for the year to 19.5p, 8.3% higher than the last year, to be paid on 3rd February 2016.Our view: Aberdeen delivered excellent performance in the financial year 2015 despite the challenging market conditions. The company remained focused on its strategy to rebalance and diversify business lines. Aberdeen’s acquisition of SWIP business turned fruitful as it delivered cost synergies outpacing initial estimates. Additionally, the companies acquired by Aberdeen during the financial year 2015 complement its existing business, providing additional growth opportunities. Though AUM declined in financial year 2015 due to periodic correction in Asia and emerging countries, the company is undertaking strategic measures to mitigate this risk and remains positive on the long term growth potential of these markets. Meanwhile, Aberdeen used the proceeds from the issue of shares to increase the seed capital as it gears to generate organic growth through the launch of new funds. Aberdeen’s healthy balance sheet with enhanced cash position paved way for higher dividend payments. Overall, the company’s business is well balanced with sufficient capital and cash to generate long term returns for the investors. In light of the above argument, we maintain a Buy rating on the stock.
Spain Fund
01 Dec 2015
Not for sale says fund boss [link]
Hardboy
30 Nov 2015
Finals Not great, but the words seem very calm, as though everything is under control, and a hefty hike in the dividend, gives a 6+% yield at these prices. keep the faith!
II Editor
09 Nov 2015
NEW ARTICLE: Chart of the week: Why BT and this miner will rally "BT - phone home! At least, that is what I thought he said in the 1982 movie E.T. the Extra-Terrestrial. And closer to the present day, the LSE:BT.A:BT chart is no alien to the bulls. It is in a firm uptrend as the company has recently re-entered ..."[link]
Norman Barrington
26 Oct 2015
Re: Great opportunity to buy for the bra... Merlindale, it is my experience that when a company is doing ok, the boards tend to go quiet. To me this is a good sign. When a share is plummeting, the bbs fill up with comments, as PIs vent their spleen or seek reassurance. I am a happy holder of ABD
FRTEB
26 Oct 2015
Re: Great opportunity to buy for the bra... Well I bought a few! Of course I now wish I'd bought more but at least I didn't miss out altogether. Buying in tranches is the way to do it.
Merlindale
26 Oct 2015
Re: Great opportunity to buy for the bra... Hmmm maybe buy a few more of these with whispers about a possible takeover in the offing noted by FT...good to see them upo by 20% sonce my purchase a few weeks ago and surprising they have not attracted more interest on this board.
MrMeerkat
18 Sep 2015
Re: Great opportunity to buy for the bra... I also took the plunge today. I'm trying buy on dips without catching falling knives! Whether 328 proves to be a good entry point only time will tell.But long-term, I think the falls have been overdone and that there is a good company here with favourable financials.MM
Merlindale
08 Sep 2015
Re: Great opportunity to buy for the bra... I decided to be brave and jumped in for some of these at 308p yesterday so it is good to see them recovering - a bit maybe the market will eventually see the drop has been overdone
sansione
27 Aug 2015
Re: Great opportunity to buy for the bra... I was referring to operational gearing rather than balance sheet gearing.
mutandis13
26 Aug 2015
Re: Great opportunity to buy for the bra... "...Remember, however, that Aberdeen is a highly geared entity..."Sansione, not sure I agree, ADN has net cash on its balance sheet (more than double its dividend pay-out last year), or were you referring to something else?
FRTEB
26 Aug 2015
Re: Great opportunity to buy for the bra... Valid points in the previous two posts. ADN has been on my watchlist for a while and peaked at just over £5 back in April. I bought an initial tranche on Monday at a smidgen over £3 but didn't go in too heavy. I can top up/average down with a further four tranches of the same value or one more purchase at 4 x initial tranche if I wake up one very black morning to find ADN has plummeted to £2. My logic for buying at £3 (apart from the obvious area of support) is if the price goes back up at least I didn't miss out altogether and if the price goes down further then I can buy more. It's an approach that works for me because although I've been lucky on a couple of occasions to buy near the bottom, on other occasions I've waited, thinking the price will fall, only to find that it doesn't and then I've kicked myself for missing out. So now I buy in tranches. Not taking anything away from LG's £2 prediction - someone who happens to be right more often than wrong.
sansione
26 Aug 2015
Re: Great opportunity to buy for the bra... Remember, however, that Aberdeen is a highly geared entity whose highest margin products - Far East equities - are the ones that are being decimated. Don`t assume that the dividend is secure should the current situation continue.
Omaha man
26 Aug 2015
Re: Great opportunity to buy for the brave Maybe true, but don't forget in 2008/9 there were lots of great opportunities to buy stocks which then halved and halved again. Survivor bias allows you to remember those that came through and made you good money, but if you bought banks or most other financials too soon there was the potential for substantial losses.Yield was no guide to banks at the time, though I do wonder whether as this tips over a yield of 6% at 300p that will provide some support. i am monitoring, but haven't been tempted in yet.
