The market reaction to Foresight’s 1H26 results came as disappointing, despite record levels of demand for the Group’s higher margin retail products. We appreciate the FCM-related weakness and the consequential c.1% reduction in our core EBITDA pre-SBP forecasts was undesirable, we believe that the growth backdrop, particularly for retail-focused private capital products remains strong and management’s fundraising-related commentary was encouraging. We reiterate our Buy rating on our new 723p ta ....
