Record

TICKER: REC     EXCHANGE:

Record Currency Management is a long established, independent currency manager whose clients are largely institutions, including pension funds, charities, foundations, endowments, as well as corporate clients

LATEST REPORTS

 
Shares geared to growth
Published: Nov 26 2012

Record Currency Management is a long established, independent currency manager whose clients are largely institutions, as well as corporate clients
First half pre-tax profits fell as expected to GBP 2.7m, but total assets managed increased by 5% to USD 32.5bn
Record's profits and its shares are positively geared to any upturn in business: timing is hard to predict but the scale of market, particularly in the US, means that winning extra $bns to manage is quite feasible, with material implications for the share price
In the meantime, investors can get a reasonably safe 6% yield, given the cash on balance sheet and our view that profitability has now bottomed out and is expected to recover

ARCHIVE

Foreign buyers gorging on UK stocks

Document can be downloaded here: UK plc ‘going for a song’

Being a shareholder in a company that receives a juicy takeover offer is a marvellous feeling. Something that many fortunate investors have experienced over the past 3 years. Thanks to a spate of M&A bids by deep pocketed overseas buyers – partly triggered by the June 2016 Brexit result, which sent the £ tumbling and adversely affected the FTSE.

Consequently today, given this trend is unlikely to end anytime soon, we’ve highlighted 30 possible acquisition ideas in the attached research paper. Spilt equally between large and smallcap stocks – covering a broad selection of industries.

What’s more we believe most of these businesses are underpinned by strong fundamentals and substantial upside in the event of predatory interest.

According to Factset Mergerstat/BVR, the average bid premium paid for such deals between 2004-14 was 30% – with the figure trending upwards since the global financial crisis.

Happy investing. Published 27th August 2019