ADrunkenMarcus wrote:I don't like the name abrdn or the phrase 'growth vectors'.
Best wishes
Mark.
One reason I sold. Really had no confidence in the judgement of the BoDs
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ADrunkenMarcus wrote:I don't like the name abrdn or the phrase 'growth vectors'.
Best wishes
Mark.
Dod101 wrote:They have managed to lose less AUM than in previous years, thanks in part to an increase in the market prices but the culture does not seem very attractive to me and I am glad that I do no hold them. Schroders is far better in the sector.
Dod
Dod101 wrote:They have managed to lose less AUM than in previous years, thanks in part to an increase in the market prices but the culture does not seem very attractive to me and I am glad that I do no hold them. Schroders is far better in the sector.
Dod
ian56 wrote:
I am seriously considering disposing of my entire stake in ABDN and splitting the proceeds between LGEN and SRDC, both of which are existing holdings, which will also have the beneficial effect of increasing the dividend income received.
Ian
ian56 wrote:
I am seriously considering disposing of my entire stake in ABDN and splitting the proceeds between LGEN and SRDC, both of which are existing holdings, which will also have the beneficial effect of increasing the dividend income received.
Ian
ADrunkenMarcus wrote:ian56 wrote:
I am seriously considering disposing of my entire stake in ABDN and splitting the proceeds between LGEN and SRDC, both of which are existing holdings, which will also have the beneficial effect of increasing the dividend income received.
Ian
Sounds like a decent plan. I’m often in favour of greater concentration.
Best wishes
Mark
monabri wrote:ian56 wrote:
I am seriously considering disposing of my entire stake in ABDN and splitting the proceeds between LGEN and SRDC, both of which are existing holdings, which will also have the beneficial effect of increasing the dividend income received.
Ian
Be mindful of the ex dividend dates ( without wishing to get into the old chestnut debate of buying ex or cum dividend...that's buyer's choice!)
https://www.dividenddata.co.uk/exdivide ... sc=xd&st=0
ADrunkenMarcus wrote:Nick Train is famously bullish on asset managers. I don't think he holds abrdn!
Best wishes
Mark.
scrumpyjack wrote:ADrunkenMarcus wrote:Nick Train is famously bullish on asset managers. I don't think he holds abrdn!
Best wishes
Mark.
He does hold a lot of Hargreaves Lansdown, I think. One can understand his liking for the sector in view of how much he must have mad out of Lindsell Train.
I have long thought the net profit margins in that business cannot be sustained long term. HL makes about 50% net profit! It is not a business where there are moats or barriers to entry and if the likes of Vanguard decided to get into it they could do it at scale far cheaper than HL.
Dod101 wrote:scrumpyjack wrote:He does hold a lot of Hargreaves Lansdown, I think. One can understand his liking for the sector in view of how much he must have mad out of Lindsell Train.
I have long thought the net profit margins in that business cannot be sustained long term. HL makes about 50% net profit! It is not a business where there are moats or barriers to entry and if the likes of Vanguard decided to get into it they could do it at scale far cheaper than HL.
We cannot compare HL's business with that of Schroders and certainly not of Legal & General's nor Lindsell Train's for that matter. HL is not an asset manager like any of them. Many here seem to use HL irrespective of their ridiculous charging structure and that is why they are so profitable. They also have a relatively straightforward business model.
Dod101 wrote:scrumpyjack wrote:ADrunkenMarcus wrote:Nick Train is famously bullish on asset managers. I don't think he holds abrdn!
Best wishes
Mark.
He does hold a lot of Hargreaves Lansdown, I think. One can understand his liking for the sector in view of how much he must have mad out of Lindsell Train.
I have long thought the net profit margins in that business cannot be sustained long term. HL makes about 50% net profit! It is not a business where there are moats or barriers to entry and if the likes of Vanguard decided to get into it they could do it at scale far cheaper than HL.
We cannot compare HL's business with that of Schroders and certainly not of Legal & General's nor Lindsell Train's for that matter. HL is not an asset manager like any of them. Many here seem to use HL irrespective of their ridiculous charging structure and that is why they are so profitable. They also have a relatively straightforward business model.
Dod
abrdn announces that it has sold an aggregate of 39,981,442 ordinary shares (the "Placing Shares") of its shareholding in Phoenix Group Holdings plc ("Phoenix"), representing approximately 4% of Phoenix's issued share capital, to institutional investors, at a price of 660 pence per share (the "Placing"), raising aggregate gross sale proceeds of approximately £264 million.
Following settlement of the Placing, which is expected to take place on 1 February 2022, abrdn's holding will represent approximately 10.4% of Phoenix's issued share capital and abrdn will continue to appoint a director to Phoenix's Board.
abrdn intends to return the net proceeds of the Placing to shareholders, with the method and timing of the return to be announced as soon as practicable after the Company's results on 1 March.
idpickering wrote:Result of Secondary Placingabrdn announces that it has sold an aggregate of 39,981,442 ordinary shares (the "Placing Shares") of its shareholding in Phoenix Group Holdings plc ("Phoenix"), representing approximately 4% of Phoenix's issued share capital, to institutional investors, at a price of 660 pence per share (the "Placing"), raising aggregate gross sale proceeds of approximately £264 million.
Following settlement of the Placing, which is expected to take place on 1 February 2022, abrdn's holding will represent approximately 10.4% of Phoenix's issued share capital and abrdn will continue to appoint a director to Phoenix's Board.
abrdn intends to return the net proceeds of the Placing to shareholders, with the method and timing of the return to be announced as soon as practicable after the Company's results on 1 March.
https://www.investegate.co.uk/abrdn-plc ... 00089143Z/
dealtn wrote:idpickering wrote:Result of Secondary Placingabrdn announces that it has sold an aggregate of 39,981,442 ordinary shares (the "Placing Shares") of its shareholding in Phoenix Group Holdings plc ("Phoenix"), representing approximately 4% of Phoenix's issued share capital, to institutional investors, at a price of 660 pence per share (the "Placing"), raising aggregate gross sale proceeds of approximately £264 million.
Following settlement of the Placing, which is expected to take place on 1 February 2022, abrdn's holding will represent approximately 10.4% of Phoenix's issued share capital and abrdn will continue to appoint a director to Phoenix's Board.
abrdn intends to return the net proceeds of the Placing to shareholders, with the method and timing of the return to be announced as soon as practicable after the Company's results on 1 March.
https://www.investegate.co.uk/abrdn-plc ... 00089143Z/
So £264mio that was invested in a business with a P/E of about 7 (an earnings yield of about 13%), or that had a dividend yield of 7% has been sold and now is in "cash" earning nothing. Let's hope they do something with it soon else that will look earnings dilutive. I assume the Directors already have a plan before pulling their trigger.
I guess they could do worse than buy shares in a similar company with a P/E even lower, 6 say. Looking at the market ABDN might fit the bill.
Dod101 wrote:dealtn wrote:idpickering wrote:Result of Secondary Placingabrdn announces that it has sold an aggregate of 39,981,442 ordinary shares (the "Placing Shares") of its shareholding in Phoenix Group Holdings plc ("Phoenix"), representing approximately 4% of Phoenix's issued share capital, to institutional investors, at a price of 660 pence per share (the "Placing"), raising aggregate gross sale proceeds of approximately £264 million.
Following settlement of the Placing, which is expected to take place on 1 February 2022, abrdn's holding will represent approximately 10.4% of Phoenix's issued share capital and abrdn will continue to appoint a director to Phoenix's Board.
abrdn intends to return the net proceeds of the Placing to shareholders, with the method and timing of the return to be announced as soon as practicable after the Company's results on 1 March.
https://www.investegate.co.uk/abrdn-plc ... 00089143Z/
So £264mio that was invested in a business with a P/E of about 7 (an earnings yield of about 13%), or that had a dividend yield of 7% has been sold and now is in "cash" earning nothing. Let's hope they do something with it soon else that will look earnings dilutive. I assume the Directors already have a plan before pulling their trigger.
I guess they could do worse than buy shares in a similar company with a P/E even lower, 6 say. Looking at the market ABDN might fit the bill.
Have I got this wrong? It reads to me that they are going to return the proceeds to shareholders.
Dod
Dod101 wrote:dealtn wrote:idpickering wrote:Result of Secondary Placingabrdn announces that it has sold an aggregate of 39,981,442 ordinary shares (the "Placing Shares") of its shareholding in Phoenix Group Holdings plc ("Phoenix"), representing approximately 4% of Phoenix's issued share capital, to institutional investors, at a price of 660 pence per share (the "Placing"), raising aggregate gross sale proceeds of approximately £264 million.
Following settlement of the Placing, which is expected to take place on 1 February 2022, abrdn's holding will represent approximately 10.4% of Phoenix's issued share capital and abrdn will continue to appoint a director to Phoenix's Board.
abrdn intends to return the net proceeds of the Placing to shareholders, with the method and timing of the return to be announced as soon as practicable after the Company's results on 1 March.
https://www.investegate.co.uk/abrdn-plc ... 00089143Z/
So £264mio that was invested in a business with a P/E of about 7 (an earnings yield of about 13%), or that had a dividend yield of 7% has been sold and now is in "cash" earning nothing. Let's hope they do something with it soon else that will look earnings dilutive. I assume the Directors already have a plan before pulling their trigger.
I guess they could do worse than buy shares in a similar company with a P/E even lower, 6 say. Looking at the market ABDN might fit the bill.
Have I got this wrong? It reads to me that they are going to return the proceeds to shareholders.
Dod
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