It’s time to take a look at how my 2025 watchlist is performing so far this year.
My watchlist is my list of 10 stocks that I am particularly interested in or excited about each year.
This list generated a total return of 28% in 2023.
It generated a total return of 32% in 2024.
The return in H1 2025 was… (drumroll) 12%.
Before I go any further, I should add the disclaimer that I do not claim to be able to predict share prices over a six-month period. Or any period for that matter! I do think I have some ability to find interesting shares that can do well if held for a reasonable period of time (otherwise why bother studying them?)
So I’m not here to boast about picking stocks that generated a 12% return in six months.
What I would like to do is briefly review their individual performance.
I’ll go from worst to best.
Without further ado:
1. Impax Asset Management (LON:IPX) (I have a long position in IPX) - minus 14% (£258m current market cap)
I wrote about Impax already today - it has continued to suffer outflows, including very large outflows from St James’s Place. But AUM in Q3 (to June) was up, thanks to an acquisition and positive market movements offsetting modest outflows. The company mentioned having positive flows in June - so we can continue to dream that the string of outflows might end soon. I remain excited about the potential share price rebound in that scenario. For now, given the April profit warning, I’m relieved that this hasn’t fallen further. The unsustainable dividend has been cut but the company is now also buying back its own shares.
2. Peel Hunt (LON:PEEL) (£116m)
I covered Peel Hunt’s AGM update recently, which said that Q1 revenue for the new financial year was “comfortably ahead” of the prior year. The company is also “mandated on a number of transactions that are expected to complete in the second half of the financial year”. So I’m excited that the return of animal spirits - as evidenced by the ongoing AI and bitcoin treasury manias - may translate to IPOs and other fundraisings that could boost the likes of Peel Hunt. While I…
