A director at Bailador Technology Investments Limited bought 33,000 shares at 1.457AUD and the significance rating of the trade was 50/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over t...
Full Report Available at Are You Doubling Down on Your Aussie Large Cap Exposure? The release of financial accounts is one of the few occasions we get a look at the full portfolio of a LIC or LIT. With the completion of results season for the majority of LICs and LITs at August-end we got a look at the portfolios and thought it was a good time to take a look at whether Australian Large Cap LICs offer a level of diversification or whether investors are doubling down on their stock exposure in t...
Full Report Available at Loomis Sayles Global Equity Fund (Quoted Managed Fund), (ASX: LSGE) (the “Fund”) is a newly listed Exchange Traded Managed Fund (ETMF), also known as an Active ETF. The Fund was listed on 1 October 2021 and provides exposure to the Loomis Sayles Global Equity Opportunities Strategy (the “Strategy”), which was established in October 2004. The Responsible Entity (RE) is Investors Mutual Limited who has appointed Loomis, Sayles & Company, L.P as the Investment Manager (“L...
Full Report Available at Clime Capital Limited (ASX: CAM) is a Listed Investment Company (LIC) with a long history, with the Company listing on the ASX in February 2004. The portfolio is managed by Clime Asset Management Pty Limited, a wholly owned subsidiary of Clime Investment Management Limited (ASX: CIW), an ASX-listed asset management company with $1.18b funds under management (FUM) and $5.1b funds under management and advice (FUM&A) as at 30 June 2021. The Company’s primary objective is ...
Full report available at LMI Market News Initiated Coverage on Loomis Sayles Global Equity Fund (Quoted Managed Fund) (ASX: LSGE) During the month, we initiated coverage on Loomis Sayles Global Equity Fund (Quoted Managed Fund) (ASX: LSGE), which listed on the ASX on 1 October 2021. LSGE provides exposure to the Loomis Sayles Global Equity Opportunities Strategy, which was established in October 2004. The Responsible Entity (RE) is Investors Mutual Limited who has appointed Loomis, Sayles & ...
Full report is available at The Qualitas Real Estate Income Fund (ASX: QRI) is a Listed Investment Trust (LIT) that listed on the ASX in November 2018, raising $231.2m through the issue of 144.5m ordinary fully paid units at $1.60 per unit. Since listing, the Trust has grown through the issue of new units to both new and existing unitholders. At 31 August 2021, the Trust had a market cap of $441.2m with 267.4m units on issue. The Trust invests in the Qualitas Wholesale Real Estate Income Fund ...
A director at Cadence Capital Limited bought 80,000 shares at 1.283AUD and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two year...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Loomis reported a solid Q2 with US operations already above pre-pandemic levels and Europe strengthening as lockdowns ease, implying a US-style recovery in H2e in our view. We see Loomis as a solid recovery case and a well-financed company. For the first time, it is adding share buybacks to its capital-allocation model. We expect it to provide updated financial targets later this year. We reiterate our BUY and have raised our target price to SEK380 (370).
We expect Loomis’ Q2 performance to mirror lockdowns in its markets, suggesting a similar pattern to recent quarters – i.e. a strong US, but weaker European operations, ahead of a US-type recovery in H2. While Loomis is still trading 40% below pre-pandemic levels, we see a solid recovery case and a very well financed company likely to come back with updated, ambitious financial targets. We reiterate our BUY and have raised our target price to SEK370 (350).
Loomis ended a mixed Q1 with a record-strong US performance and a European operation struggling due to Covid-19 lockdowns. We see a potentially solid recovery case and a very well financed company. Given the weak share price during the pandemic, we believe share buybacks could be a good opportunity for Loomis. The board is warming to the idea as a capital allocation tool and now has a mandate from the AGM. We reiterate our BUY and SEK350 target price.
We see Loomis’ Q1 performance mirroring the lockdown levels in its operating countries, suggesting a similar pattern to recent quarters, with a strong US and weaker European operations. The acquisition of SecurePost AG in Switzerland looks highly synergetic to us, and we would expect Loomis to return with an ambitious new set of targets for the coming period. We see a potentially solid recovery case, and consider Loomis well financed, at an attractive valuation. We reiterate our BUY and have rai...
Full Report can be accessed on Evans & Partners LITs Cease Trading on the ASX During January, three of the Evans & Partners LITs ceased trading on the ASX after unitholders voted in favour of transitioning the fund from a LIT structure to an open-ended unit trust. The three LITs that ceased trading were the Evans & Partners Asia Fund (ASX: EAF), Evans & Partners Global Flagship Fund (ASX: EGF) and Evans & Partners Global Disruption Fund (ASX: EGD). The decision to delist the funds and transit...
Loomis ended a mixed 2020 with record-strong US performance and record-high FCF generation, but with a European operation struggling in a Covid-19 lockdown environment. We see a potentially solid recovery case and a very well financed company. Given the weak share price recently, buying back its own shares could be the best investment opportunity for Loomis, with its board warming to the idea as a capital allocation tool. We reiterate our BUY and SEK335 target price.
We have lowered our forecasts as Loomis’ markets endure renewed lockdowns, suggesting a longer-drawn-out normalisation, in combination with less favourable FX. Revisiting the fundamentals, we find strong support from our updated Loomis Sweden and cashless society cases, while we believe the inherent value in SafePoint is now better exposed. We reiterate our BUY and SEK335 target price, based on greater prospects of Loomis’ substantial ‘financial muscle’ being reinvested effectively, SafePoint re...
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