MLP SE (MLP GR) - Dry spell's over: Comeback of Performance fees; chg. est.

For the first time since Q4 2021, MLP looks set to record performance fees of € 7m in Q1, as capital markets have developed favourably, pushing FERI's funds to new high water marks. Moreover, tailwinds from banking and improvements in real estate continue.

MLP SE (MLP GR) - Comeback of RE and performance fees around the corner

MLP released FY'23 preliminary results and suprised positively with Q4's better than expected real estate business. MLP also looks set to record performance fees in Q1 for the first time since 2021.

MLP (MLP GR) - Case fully intact despite PW; chg.

MLP released a profit warning and is now expecting an FY'23 EBIT of € 71m, thus missing the guidance of € 75-85m due to € 4m of goodwill impairments in the real estate business. Nevertheless, we look optimistically into FY'24e due to MLP's attractive risk/reward profile.

MLP (MLP GR) - Low risk, high reward - added to NuWays' Alpha List

At current levels, MLP’s stock offers a superb value for money profile, as strong upside potentials are close whereas downside risks seem low.

MLP (MLP GR) - Prepared for the future - Analyst meeting feedback

MLP recently hosted its annual analyst meeting and gave insights into strategic developments like its advanced digitalization, management of demographic challenges and regulatory environment. All in all, MLP seems well prepared for the future.

MLP (MLP GR) - Q3 review: too cheap to ignore resilience.

MLP continues to deliver in all market environments. Its diversified business shows superb resilience against macro-headwinds and at current levels, the stock is too cheap to ignore.

MLP (MLP GR) - Q3 preview: Profitable despite challenging markets

MLP looks set to report solid Q3 figures on November 9th, which underpin the resilience of the business model during a challenging macro environment. Valuation continues to look attractive.

Deutsches Eigenkapitalforum - EKF conference book 2019

A very warm welcome to the Edison conference book for the Deutsches Eigenkapitalforum 2019. Following a record year for IPOs in 2018, this year has been rather disappointing so far. Year-todate values are down by 40% in Europe compared to 2018. The picture is similar in Germany. Moreover, IPO performance is not very encouraging, with each of the four IPOs in Germany trading below issue price. However, TeamViewer’s listing on the Frankfurt Stock Exchange provides one of the few bright spots in

MLP - Growing on all fronts

MLP Group is a financial services company focusing on finance advisory services for private clients, companies and institutional investors. Key products include pensions, asset and risk management and real estate and insurance brokering. MLP has grown organically and through acquisition, buying specialised finance companies to diversify and expand revenue. In September 2019, MLP acquired 75.1% of DEUTSCHLAND Immobilien’s shares, expanding its real estate activities. MLP’s historic acquisitions h

LIBERUM: Plus500: Strategic progress pays dividends

Tatton Asset Management (TAM LN) - Record net inflows

Tatton, the leading on-platform discretionary fund manager (DFM) and IFA support services Group has released a trading update ahead of its results to 31 March 2024, due on 18 June 2024.

Hardman & Co Insight: 2023 was an annus horribilis for Quoted UK Infrastructure and Renewable Energy

The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no

Ondo InsurTech FY24 Trading Update

Ondo InsurTech has released a brief post-YE update revealing its good progress continued through 2H24 and consequently FY24 will be in line with market expectations.

BlackRock World Mining

BRWM’s managers: we see all the classic signs of high commodity prices...

NextEnergy Solar Fund - Attractive Refinancing

The refinancing of a £135m revolving credit facility and the extension of a similar £70m facility gives NESF firepower as development opportunities for new solar are especially attractive thanks to lower module prices in Europe. They give the fund key financial flexibility at a critical time as it pursues its capital recycling programme.

Morning Note – 18 April 2024

The Hardman & Co Monthly: April 2024

Feature article: Steady as she goes, but could be better: A review of investment company liquidity since 2016 Liquidity is the lifeblood of equity markets. The measurement of liquid asset availability to a market or company is a way of gauging a market’s health. This article builds on our previous work, which analysed the liquidity data for non-financial trading companies, by applying the same analytical techniques to the investment companies (IC) space. We analyse liquidity for ICs as a whol

Foxtons Group (FOXT LN) - 1Q24 IMS shows real momentum

Foxtons Group plc first quarter revenue rose 9% to £35.7m (1Q23: £32.9m) with growth delivered across all business segments. Trading is in line with management's expectations.

Initial Equity Trading Comments - 19 February 2024

M Winkworth+ (WINK, House Stock at 163p) - Solid FY23A results, well placed to grow

Foxtons Group - FY24 underpinned by market share gains

Foxtons Group’s Q1 revenue grew by 9%, supported by growth in all three divisions as the strategic initiatives continue to gain significant momentum, driven by investment in staff, best-in-class bespoke IT and data platforms. This implies that Foxtons’ medium-term targets are now coming into focus. Market share is being gained in all divisions, which puts Foxtons in a good position as the sales market stabilises. We maintain our valuation of 132p/share and believe that if interest rates stabilis

Resilient FY24, confident long-term outlook

Vp’s full year update highlights sector-leading results, once again benefiting from the diversity of its end markets and the quality of its specialist businesses. With results expected to be broadly in line with expectations, we trim our FY24 PBT forecast by c.5% to £39.0m, a shade below the FY23 outturn (£40.2m). We consider this an impressively resilient performance set against a mixed market backdrop. Under new leadership, a strategic refresh is underway and management is confident in long

Hybridan Small Cap Feast - 16/04/2024

16th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radical Limited for

AUM up 30% in FY24, record flows, forecasts raised

AUM jumped £3.8bn or +30% in FY24, reaching £16.6bn on 31 Mar 24, 12% above our previous forecast of £14.7bn. Including 50%-owned 8AM Global, Assets Under Influence hit £17.6bn. Investment performance provided a tailwind, adding £1.5bn to AUM. But our key takeaway from Tatton’s hugely impressive last few years, is that it has designed and implemented a superior offering in platform-MPS with net flows consistently far higher than peers. That leadership looks even more pronounced in H2-24 with net