Rise of the Asset Managers?

Wednesday, Dec 13 2017 by
16

I have a variety of customised Quality screens, some of which are tougher to pass than others. What has surprised me is the number of Asset management companies that are passing the toughest of screens and the extent of their 1Y gains.  

I have selected 3 (which I now hold) and am thinking that the Asset managers themselves have become a better investment prospect than many of the multi-£Ms of funds they operate.


 

Polar POLR

Jupiter JUP

Premier PAM

1Y RS

31%

46%

56%

PER

16.1

14.6

13.1

Operating Margin %  

42

27

25

ROCE

30

33

25

ROE

25

28

43

F-Score

9

8

7

StockRank

94

82

94

 

Alternative views welcome?   Ian


Filed Under: Funds And ETFs,

Disclaimer:  

As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.


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Jupiter Fund Management plc is a fund manager. The principal activity of the Company is to act as a holding company for a group of investment management companies. The Company focuses primarily on managing equity investments on behalf of retail, institutional and private client investors across a range of products, including the United Kingdom and offshore mutual funds, segregated mandates and investment trusts. The Company manages various investment trusts, unit trusts and overseas funds. It offers a range of products and services through various distribution channels. Its online services enable advisors and individuals to invest in selected funds from different providers, and to access consolidated reporting and analytics tools. Its mutual fund clients include individual investors, requiring investment products to meet their savings and retirement needs. It access its clients through distribution partners, such as financial advisors and wealth managers. more »

LSE Price
342p
Change
1.6%
Mkt Cap (£m)
1,540
P/E (fwd)
12.6
Yield (fwd)
6.9

Premier Asset Management Group PLC is a retail asset management group with a focus on delivering investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity and absolute return funds. The Company offers a range of investment types, including mutual funds, closed-ended investment companies and a portfolio management service. The Company has a particular focus on multi-asset and income investment management, which addresses retail investor demand in these sectors. The Company has its presence as a multi-asset fund manager in the United Kingdom retail funds market based on net sales and assets under management (AUM). more »

LSE Price
216p
Change
-3.1%
Mkt Cap (£m)
228.7
P/E (fwd)
13.4
Yield (fwd)
5.2

Polar Capital Holdings plc is an investment management company. The Company is engaged in the provision of investment management and advisory services. The Company offers professional and institutional investors a range of geographical and sector investment opportunities. The Company offers fundamental funds diversified by asset class, geographical, sectoral specialization, strategy and structure. Its subsidiaries include Polar Capital Partners Limited, Polar Capital Partners (Jersey) Limited, Polar Capital (America) Corporation, Polar Capital Limited Liability Partnership and Polar Capital European Income Fund. more »

LSE Price
513p
Change
3.0%
Mkt Cap (£m)
471.2
P/E (fwd)
12.1
Yield (fwd)
6.7



  Is LON:JUP fundamentally strong or weak? Find out More »


21 Post on this Thread show/hide all

VegPatch 13th Dec '17 1 of 21
3

Having been an institutional fund manager for nearly 20 yrs my view is to look for a manager with a differentiated product. There is so much me-too product and its all to easy for clients and importantly gate keepers like fund selectors or consultants like Towers Watson to advocate passive products or big names. Therefore for many competitors growing AUM has become a real challenge. However I see Impax Asset Management (LON:IPX) as providing a differentiated responsible product

"Impax's listed equity funds seek out mispriced companies that are set to benefit from the long-term trends of rising global populations and wealth, changing demographics, urbanisation, increasing consumption, and the resultant increases in resource demand. Investment is focused on a small number of deeply researched global equity strategies across energy efficiency, renewable energy, water, waste/resource recovery, food and agriculture related markets."

It captures the today's ecological zeitgeist. It also means owners can feel good about themselves and unlike say Woodford's patient capital trust or BlackRock's new energy fund, it doesnt invest in quite speculative companies, rather solid profitable businesses with good econonmics. So I have less underperformance risk tied in. AUM growth has been stellar, with AUM which grew 60% YTD. Yes its a fund manager so i run equity market risk, but I feel happy running that. It has rerated over the last 6 months but I feel AUM grow is likely to keep going and performance remains above benchmark.

I hold.

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