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LATEST COMPANY RESEARCH
Asset managers trading well
Brewin's IMS and Rathbone's results both reassuring in volatile markets
Assets under Management growing
Stockmarket undervaluation apparent for both, notably Brewin at only 1.3% AuM
Publication Date:
July 29 2010
Excellent results
First Lloyd's results in reporting season very impressive despite Chilean earthquake and Deepwater Horizon
Shares still trade below NAV and 5.1 PER is below 6.1% yield
Fair value per share seen at 147p versus current 123p mark
Publication Date:
July 27 2010
Next phase
Investment company specialising primarily in Indian infrastructure; a region still showing robust GDP growth
Recent successful win of concession for Ennore port is a 'company changing' event
Results show NAV rising from 21.9p / share to 23.0p with further scope for growth
Publication Date:
July 23 2010
Commercial progress
Further developments underpin coming years’ forecasts
June saw a Framework Agreement for 10.6 MW
Today’s contract with Girelli Bruni is significant as it combines solar power with Acta’s hydrogen products
Despite excellent share performance our 93p / share fair value is still well above current levels
Publication Date:
July 20 2010
Deal and listing news
Tender offer for Canadian listed iseemedia which would deliver complimentary technology, new customers, and patents
All share transaction with associated placing; end result will be dual UK and Canadian listing
Earnings adjust downwards in short term, but attractive future means 2.8p fair value / share well above current levels
Publication Date:
July 20 2010
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