The Listed Managed Investment (LMI) Indicative NTA Report tracks the indicative movement of a LMIs pre-tax NTA throughout the month by monitoring the movements in the disclosed holdings and using an index to track the movement of the remainder of the portfolio.
Read MoreFY2019 will be associated with one word when market participants look back, and that is volatility. Bookended by relatively benign first and last quarters, the second and third quarters of FY19 took both domestic and international asset managers on a proverbial roller coaster ride.
Read MoreArgo, like its LIC rivals, is now very cautious about the coming year and in reality is not really optimistic about another cash shower like the one enjoyed in the year to June.
Read More2018-19 was a one-off record for Australian Foundation Investment Company, the country’s biggest LIC and for that, it can thank the ALP’s election policy that threatened franked dividend credits for non or low taxpaying investors.
Read MoreIn comments all investors should note, the CEO of one of the country’s biggest listed investment companies has warned that his group is not upbeat on prospects for the 2019-20 financial year, with bank earnings a special concern.
Read MoreThrough April and May we have seen three more listed managed investment vehicles (LMIs) start trading on the ASX including two fixed income-focused listed investment trusts (LITs), Perpetual Credit Income Trust (ASX:PCI) and MCP Wholesale Income Opportunities Trust (ASX:MOT).
Read MoreThe Listed Managed Investment (LMI) Indicative NTA Report tracks the indicative movement of a LMIs pre-tax NTA throughout the month by monitoring the movements in the disclosed holdings and using an index to track the movement of the remainder of the portfolio
Read MoreMirrabooka Investments produced the first major LIC 2018-19 result yesterday for the second half and it looks like the 17% surge in the June half of the year only partly helped offset that weak first half.
Read MoreWhilst the LMI sector has generally delivered good returns over the past 12 months, there remain a number of uncertainties that could affect global market returns in coming months including the US/ China trade tensions, Brexit and general expectations for lower global growth.
Read MoreThe Board of Plato Income Maximiser Limited (ASX: PL8) has announced an increase in the special dividend to 3 cents per share, taking the annual dividend yield to 11.9% (including franking).
Read MoreReporting season has just ended and so we take a look at how the listed investment companies under our coverage fared over that time.
Read MoreAdelaide-based Argo Investments was another listed investment company (LIC) to benefit from capital management moves by BHP, Rio Tinto, and Wesfarmers in the six months to December 31.
Read MoreSydney-based listed investment company Milton Corp (its linked to the Washington H Soul Pattinson-Brickworks Ltd group of companies) has revealed a modest lift in interim dividend for the December half year and expects markets to remain tough over the next few months.
Read MoreLike Australian Foundation Investment Co (AFIC), its smaller listed investment company offshoot, AMCIL has seen its December half-year results saved by the BHP and Rio off-market share buy backs.
Read MoreThere’s value back in the market say the directors of the country’s biggest listed investment company which holds a near $7 billion investment portfolio consisting of the bluest of local blue-chips.
Read MoreShareholders in Australian Foundation Investment Company had some good news yesterday in the Melbourne-based investment group’s interim results – a special dividend of 8 cents a share on top of the unchanged interim of 10 cents a share.
Read MoreIn its latest Quarterly LMI Market Review, Independent Investment Research (IIR) provides detailed coverage of 49 listed investment companies, listed investment trusts and active ETFs including commentary, investment views and ratings.
Read MoreWe demonstrate the impact of Labor’s proposed franking credit changes and why subordinated bonds become relatively much more attractive.
Read MoreThe reporting season just ended was a good one for the listed investment company sector with most LICs reporting growth in earnings. Of the 31 LICs we cover that paid dividends during the FY2018 period, 26 reported increased earnings whilst only five reported lower earnings.
Read MoreReflecting the performance of the small cap index, small cap focused LMIs generated stronger gains than large cap focused LMIs over the 12 months. The average return from our mid-small cap LMI coverage universe for the 12 months to 30 June 2018 was 13.9%.
Read MoreIn this video, Cadence’s Founder & Chairman, Karl Siegling, discusses the company’s upcoming LIC with Informed Investor.
Read MoreDiscounts and premiums can change over time, so in our report today we compare current discounts/premiums against three averages. It is important to remember that some LICs/LITs may always trade at a discount for a variety of reasons including ongoing underperformance and subscale issues.
Read MoreIt is interesting to note that out of the top 10 IPO’s, 9 were microcaps based on the implied IPO listing market capitalisation.
Read MoreAs we witnessed during the GFC, equity hybrids act like debt in rising markets and equity in falling markets, which raises the question for many investors – how much risk is being taken in the pursuit of yield?
Read MoreDuring the recent reporting season, 21 of the 29 LICs we cover that reported results for the six months to 31 December 2017 increased their profits over the prior comparable period.
Read MoreThe strong performance of global equity markets in 2017 saw listed managed investments with a focus on international markets outperform those with a domestic equities focus.
Read More2017 was an exceptional year for new listed investment company (LIC) and listed investment trust (LIT) raisings, with 14 new entities raising a total of $4.2bn via initial public offers.
Read MoreWhile FY18 is barely underway the microcap and small caps indexes have got off to a flyer and are significantly outperforming large caps.
Read MoreOur Comprehensive Research coverage and commentary for the sector for the period ended September 2017.
Read MoreFor the reporting season just finished there were 24 listed investment companies covered by Independent Investment Research that reported full year results. Out of this 24, there were 14 LICs that experienced earnings declines.
Read MoreFor investors seeking exposure to the Australian large cap market sector, the three largest LICs in this sector, Australian Foundation Investment Company (ASX:AFI) Milton Corporation (ASX:MLT and Argo Investments (ASX:ARG) offer reasonable value trading.
Read MoreIn its latest LMI Monthly Update, Independent Investment Research takes a look at why listed investment companies trade at discounts and premiums to net tangible asset value.
Read MoreWelcome to the Independent Investment Research Listed Managed Investments June Quarterly Review. In this edition we provide detailed coverage, including commentary, investment views and ratings for 30 listed investment companies and listed investment trusts.
Read MoreOur Comprehensive Research coverage and commentary for the sector for the period ended May 2017.
Read MoreFor those interested in investing in this growing sector, the latest Independent Investment Research Quarterly LMI Market Review provides detailed coverage of 34 listed investment companies, listed investment trusts and exchange quoted managed funds including commentary, investment views and ratings.
Read MoreAt 30 September 2016 there were 88 listed investment companies (LICs) and listed investment trusts (LITs) with a collective market capitalisation of $29.8B. So it is easy for investors to build a diversified portfolio by investing in this sector.
Read MoreAt 30 September 2016 there were 88 listed investment companies (LICs) and listed investment trusts (LITs) with a collective market capitalisation of $29.8B.
Read MoreAustralian large cap share focused LICs continue to underperform the broader market with an average portfolio return of 2.3% for this sector over the 12 months to 31 October 2016.
Read MoreWith a number of new listed investment companies due to the hit the market over the next few months, there is a growing universe of investment options for investors. In addition to providing detailed coverage of 30 existing listed investment companies and trusts, the Independent Investment Research Listed Managed Investments Quarterly Review highlights a couple of new LIC options for investors.
Read MoreOne category of investment product that’s been powering ahead despite the recent market volatility is the Listed Investment Company, or LIC.
Read More|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Error: Contact form not found. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
|
December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
|
DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
|
|
|
|
|
|
|
DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
|
|
|
|
DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
|
|
DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
|
DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
|
Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
DOWNLOAD RESEARCH REPORT
|
DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
|
DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
|
DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
|
DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
|
DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
|
