newtonukequities
19 Feb 2019
Final results out today A good review on a well run company GLA
Greyinvestor
19 Feb 2019
Final results out today Thanks for that, seems like a sensible review…
Greyinvestor
18 Feb 2019
Final results out today Thinking about P/E ratio, I would stab at £10m pre tax profit and £8m post tax profit. I’d have thought that EM will bounce around all year ie stay cheap, because of Trump v China, weakening China, and huge USA budget deficit. If I’m right, the P/E ratio is in the right area for me. But a sharp EM decline would push the share price well down.
Greyinvestor
18 Feb 2019
Final results out today Sorry, should have said half year results, not finals. By the way, EPS was about 15.9p. In a full year the company should exceed 32p, I would think. A ‘normal’ divi of 27p for the full year (9+18) would therefore be covered. 9+18+13.5 = 40.5p would not be covered.
Greyinvestor
18 Feb 2019
Final results out today Final results out today: FUM £3.6bn v £3.9bn at year end, but back to £3.9bn at end January - unsurprising due to volatility of EM Fees £15.6m v £17.1m - shows sensitivity to FUM PBT £5.2m v £6.6m - shows extreme sensitivity to FUM and fees Normal divi static at 9p v 9p - sensible under circumstances Special divi - 13.5p - wow, I didn’t see that coming. A Hold for me. I have a decent sized holding. The business is well run but could do with some growth Very sensitive to FUM and fees; perhaps too sensitive. Because of the above, the P/E shouldn’t be high. A serious decline in emerging markets would bite, hard. EM are already lowly valued, but they might still follow the S&P down. In my opinion an S&P decline is inevitable. A slightly risky Hold. If only the country was so well run, with clear disclosure of everything that matters. Congratulations CLIG for that. Nice to see. My biggest concern is where the growth will come from. Without growth, the divi and share price won’t grow.
Greyinvestor
08 Oct 2018
Results out Quarterly results out today. PBT down, due to declines in emerging markets, the inevitable result of the strong dollar plus Trump. I am a bit concerned that analysts are forecasting too high for this company. The forecasts will have to come down. But I still believe that the shares represent reasonable value. A Hold for me. On long term basis, Emerging Markets look good value. The biggest issue for me is their ability to cope with a world challenged by environmental issues. Not the sort of thing that analysts ever think about.
Greyinvestor
18 Sep 2018
Results out Good to see other posters on this board. Yes, the share price hasn’t done a lot, but the yield has been excellent. To be fair to CLIG, other fund managers have seen substantial share price declines. They are cyclical businesses. I like the CLIG entrepreneurial attitude; I just hope that retirements don’t change things too much. Nasty news out of Trump today, but all that seems to happen is compensating currency declines. The real threat is rising dollar interest rates, alongside the currency.
Bowman
17 Sep 2018
Results out I have been a holder since early 2008, but have bought and sold over the intervening period. My breakeven point excluding dividends is 350p, so the current price only represents a net return of about 2.75% p.a. However, taking dividends received into account this return increases to 7.3% p.a., which is an acceptable return for me. clig.jpg1224x882 301 KB
Guitarsolo
17 Sep 2018
Results out Hi Grey, Couldn’t agree more. I’ve just read (most of) the statement and it is jolly good reading from Barry & Co. Their transparency is outstanding. I am pleased to see the dividend continue to rise and with the cover well above the rolling 5-year average should continue to do so barring a meltdown. It’s a shame to see Barry O. retire but I guess he deserves it and there seems to be a sensible succession plan in place that should ensure continuity of investment thesis, culture and reward. I wished I had more of these but will continue to add where I can. A very good company all in all. Guitarsolo
Greyinvestor
17 Sep 2018
Results out Results out today. Pretty good, I thought. FUM up 10% - good Revenue $33.9m v $31.3m - good PBT £12.8m v £11.6m - good EPS 39.5p v 36.9p - good Divi 27p v 25p So all good then! There is the obvious threat of EM declines, thanks to Trump plus dollar strength. A long term Hold for me. I have a substantial holding. Thanks CLIG for the outstanding dividend, again.
Greyinvestor
22 Aug 2018
CLIG results I agree, posters have thinned out and one or two oddballs have appeared but most people do seem to put forward well reasoned arguments…I’m still struggling a bit with the new format but am getting the hang of it, slowly.
Guitarsolo
20 Aug 2018
CLIG results Morning Grey et al, Agree that buying much under £4 is a steal (sadly I put a bit of my father-in-law’s money in at 425p! Don’t tell him I once bought CLIG for my mother at 240p!). It’s a very well run company currently being dragged down by Trump’s trade scatter gun - but that will hopefully pass. Barry Olliff’s retirement (end of the year?) is a hurdle for sure but it seems to have been well planned for so hopefully no major shift in focus. Off topic: I’m making a few more posts back on III after a brief defection to LSE/ADVFN following the change to the this website. I am still not a huge fan but have found that the general commentary on the other boards was inferior to a generally well crafted argument on many of the III boards (on both sides of any fence). The other sites so often descend into amateur activist investor/ keyboard warrior/ “I know more than you†rubbish that it has prompted me to give III another go. I found myself seeking the comments of people I recognised from III which said it all really. Perhaps they too will start to return as I know many still check in even if they don’t post. The News section on III is superior to the other sites for sure. Guitarsolo
Greyinvestor
08 Aug 2018
CLIG results Brilliant price, although I once got some for £3.51. Very little volume so it doesn’t take much selling…
Dorset_53
08 Aug 2018
CLIG results Hmm. Have just bought for the first time at 372. Hope this is not a falling knife… Or should I have bought more?!
Greyinvestor
08 Aug 2018
CLIG results Added yet again today @£3.78 Having agonised over various possible EM investment trusts, I decided that CLIG is cheaper and higher yielding…
