Board Change • May 20
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-executive Director Colin Bell was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Ankündigung • May 07
Man Group Plc to Report First Half, 2026 Results on Jul 28, 2026 Man Group Plc announced that they will report first half, 2026 results on Jul 28, 2026 Ankündigung • Dec 05
Man Group plc Announces Board and Committee Changes Man Group plc announced that Laurie Fitch will succeed Richard Berliand as Senior Independent Director (SID) in first quarter of 2026. The appointment follows a robust and rigorous process undertaken by the Nomination and Governance Committee and Board. Laurie Fitch joined the Board as a Non-Executive Director in June 2023 and became Chair of the Remuneration Committee in September 2023. She is also a member of the Audit and Risk Committee and Nomination and Governance Committee. The Company had previously disclosed that Richard Berliand intended to step down from the Board in fourth quarter of 2025. However, he has agreed to continue as a Non-executive Director and as SID until First Quarter 2026 in light of specific circumstances relating to the timing of Laurie's appointment. Unfortunately, Laurie Fitch has experienced a short-term, but acute health condition since early October 2025. She has continued to fully discharge her duties as a director during this time and is expected to make a full recovery over the next few months. As a precaution, and to ensure that Laurie is well positioned to take on the SID role, the Board has asked Richard to remain as a Non-executive Director and as SID until first quarter of 2026. As Richard has been a Non-executive Director of the Company for over nine years, the Board has rigorously reviewed his independence and role, taking account of the provisions of the UK Corporate Governance Code, and is fully satisfied that he remains independent in character and judgement. The Company will confirm the date on which Laurie is appointed as SID and Richard's departure date in due course. Ankündigung • Nov 05
Man Group Plc to Report Fiscal Year 2025 Results on Feb 26, 2026 Man Group Plc announced that they will report fiscal year 2025 results on Feb 26, 2026 Ankündigung • Jul 31
Man Group plc Declares an Interim Dividend, Payable September 19 , 2025 Man Group Plc declared an interim dividend of 5.7cents per share (30 June 2024: 5.6cents). We will fix and announce the US dollar to sterling dividend currency conversion rate on 29 August 2025, in advance of payment. Ex-dividend date: 7 August 2025. Record date: 8 August 2025. Final election date for Dividend Reinvestment Plan (DRIP): 22 August 2025. Sterling conversion date: 29 August 2025. Payment date: 19 September 2025. Ankündigung • Jul 18
Man Group plc Appoints Antoine Forterre as Chief Operating Officer, Effective September 30, 2025 Man Group Plc announced that Antoine Forterre, Chief Financial Officer, will also take on responsibility for Central Trading and Execution, and Fund Treasury with effect from 30 September 2025, and will therefore assume the title of Chief Financial Officer and Chief Operating Officer. Ankündigung • May 12
Man Group Reportedly in Talks to Acquire Credit Firm Bardin Hill Man Group Plc (LSE:EMG) is in discussions to acquire credit firm Bardin Hill Investment Partners LP, according to people with knowledge of the matter. A deal could be signed as soon as this month, said the people, who asked not to be identified discussing private information. Representatives for Man Group and Bardin Hill declined to comment. Higher rates, the banking industry’s retreat from lending and the opportunity for lucrative fees are attracting a raft of money managers into the $1.6 trillion private credit market, helping transform it into a mainstream offering. New York-based Bardin Hill specializes in middle-market, special situations and broadly syndicated credit. It managed $3.3 billion in assets as of Feb. 28, according to its website. Talks could still be delayed or fall apart, the people said. Ankündigung • May 09
Man Group plc Announces Dividend Declaration for the Year Ended 31 December 2024, Payable on 21 May 2025 Man Group plc announced a final dividend for the year ending 31 December 2024 of 11.6 cents per ordinary share on 27 February 2025 and communicated that the corresponding amount in pence sterling per ordinary share would be announced on 9 May 2025. The pence sterling amount payable in respect of the final dividend has been determined with reference to the average of the market exchange rates on the three working days commencing 6 May 2025, resulting in an applicable exchange rate of £1:USD 1.3351.Accordingly, the pence sterling amount payable to shareholders in relation to the final dividend will be 8.69 pence sterling per ordinary share. The final dividend will be paid on 21 May 2025 to shareholders on the register at the close of business on 11 April 2025. Ankündigung • Mar 01
Man Group Plc Recommends Final Dividend for the Year Ended 31 December 2024, Payable on 21 May 2025 Man Group Plc recommended final dividend of 11.6 cents, resulting in a total dividend for the year ended 31 December 2024 of 17.2 cents (2023: 16.3 cents). Ex-dividend date is 10 April 2025. Record date is 11 April 2025. Payment date is 21 May 2025. Ankündigung • Feb 28
Man Group Plc (LSE:EMG) announces an Equity Buyback for $100 million worth of its shares. Man Group Plc (LSE:EMG) announces a share repurchase program. Under the program, the company will repurchase up to $100 million worth of shares. The purpose of the program is to reduce the share capital of the Company and to enable the Company to meet obligations arising from employee share option programs, or other allocations of shares to employees of the Company or to members of the administrative, management or supervisory bodies of the Company, or an associate of the Company. The repurchase program is valid till March 3, 2026. Ankündigung • Feb 27
Man Group Plc, Annual General Meeting, May 09, 2025 Man Group Plc, Annual General Meeting, May 09, 2025. Location: riverbank house, 2 swan lane, ec4r 3ad, london United Kingdom Ankündigung • Sep 04
Man Group Plc Appoints Paco Ybarra as A Non-Executive Director, with Effect from 6 September 2024 Man Group plc announced, in accordance with Listing Rule 6.4.6 the appointment of Paco Ybarra as a non-executive director of the Company with effect from 6 September 2024. He will also join the Nomination and Governance Committee on the same date. Paco spent 36 years at Citigroup ("Citi") leading a range of regional and global markets businesses, latterly as CEO of the Institutional Client Group, which represents over 65% of Citi's global revenues. He retired in June of 2024. After spending five years leading Citi's Fixed Income division, Paco was promoted to Global Head of Markets and Securities Services in 2011 and broadened his asset-class exposure by leading businesses across both Equities and Commodities. He spent the last five years of his Citi career on the Group Executive Committee, running the Institutional Client Group, which alongside the Markets business, also included Commercial and Transactional Banking as well as, for a period, Wealth Management. Paco has been immersed in the development of markets technology over the past 10 years, including partnering with technology teams at Citi to undertake projects focused on the electronification of trading; building new systems to lower transaction costs and increase market efficiencies. Ankündigung • Sep 03
Man Group Announces Executive Changes Man Group announced the appointment of Lee Matthews as Managing Director, Head of Retail Sales for the UK. Lee replaces Richard Phillips, who is retiring after 27 years with the firm. Richard worked at Societe Generale Asset Management prior to its acquisition by GLG, which was later acquired by Man Group in 2010. Lee joins Man Group from AllianceBernstein where he spent seven years as Head of Retail for the UK and Ireland. He previously worked at Aberdeen Standard Investments, where he was Senior Business Development Manager - Discretionary. Earlier in his career Lee held distribution roles at Liontrust Asset Management, Scottish Widows Investment Partnership and J.P. Morgan Asset Management. Ankündigung • Aug 10
Man Group Plc Announces Appointment of Bernd Kerner as Investment Director for Its European Private Debt Team Man Group Plc announced appointment of Bernd Kerner as Investment Director for its European private debt team at Man Global Private Markets. Ankündigung • Jul 26
Man Group plc Declares Interim Dividend for the Six Months Ended 30 June 2024, Payable on 20 September 2024 Man Group Plc declared an interim dividend for the six months ended 30 June 2024 of 5.6 cents per share (30 June 2023: 5.6 cents per share). The dividend will be payable on 20 September 2024 with ex-dividend date of 8 August 2024 and Record date of 9 August 2024. Ankündigung • May 09
Man Group plc Announces Board Changes Man Group Plc announced the appointment of Dixit Joshi and Sarah Legg as non-executive directors of the Company and as members of the Audit and Risk Committee and Nomination and Governance Committee with effect from 10 May 2024. Most recently Dixit was Chief Financial Officer at Credit Suisse from October 2022 until the sale of Credit Suisse to UBS. Prior to this, Dixit was at Deutsche Bank from 2010 to 2022 where he held a wide range of senior roles including Group Treasurer, Head of the Fixed Income Institutional Client Group, Global Head of Prime Finance, Head of Equities for EMEA and for Asia Pacific. Before joining Deutsche Bank, Dixit was at Barclays Capital from 2003 to 2010 where he was Head of Equity-Linked-Products and Head of Equities, EMEA and APAC. Dixit was previously a board director of ISDA (the International Swaps and Derivatives Association). He is a trustee of the Student Sponsorship Programme in South Africa which is focused on creating educational opportunities for children from low-income families. He is also a board member of Pratham UK, one of the largest non-governmental organizations in India's education sector. Sarah spent her executive career at HSBC in a range of finance leadership roles, including Chief Financial Officer, Asia Pacific (2010 - 2015) and Group Financial Controller (2015-2019). She also spent eight years as a non-executive director on the board of Hang Seng Bank Limited, a Hong Kong listed bank. Sarah is currently an independent non-executive director at Lloyds Banking Group plc (since 2019) where she is Chair of the Audit Committee and a member of its Risk Committee and Responsible Business Committee. She is also an independent non-executive director of Severn Trent plc (since 2022) where she is Chair of the Audit and Risk Committee and a member of the Corporate Sustainability Committee, Nominations Committee and Treasury Committee. Sarah also chairs the Campaign Advisory Board, is a member of the Development Committee, King's College, Cambridge University, a board member of the Audit Committee Chairs' Independent Forum and a trustee of the Lloyds Bank Foundation for England and Wales. Lucinda Bell who has been a non-executive director of the Company since February 2020 and Chair of the Audit and Risk Committee since May 2020 will join the Remuneration Committee with immediate effect. Ankündigung • Apr 20
Man Group Plc to Report First Half, 2024 Results on Jul 30, 2024 Man Group Plc announced that they will report first half, 2024 results on Jul 30, 2024 Upcoming Dividend • Apr 04
Upcoming dividend of US$0.11 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 22 May 2024. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (6.0%). Higher than average of industry peers (3.1%). Ankündigung • Mar 14
Man Group Plc Appoints Pedro Videira as Managing Director and Head of Portfolio Engineering Man Group Plc announced that Pedro Videira e Castro has left Blackrock, where he has been since starting his career almost 13 years ago, to join Man Group as a Managing Director and Head of Portfolio Engineering. Ankündigung • Mar 09
Man Group Plc, Annual General Meeting, May 09, 2024 Man Group Plc, Annual General Meeting, May 09, 2024, at 09:00 Coordinated Universal Time. Location: Riverbank House, 2 Swan Lane, London EC4R 3AD London United Kingdom Agenda: To consider receipt of the Annual Report and the financial statements for the year ended 31 December 2023; to consider approval of the Directors' Remuneration report for the year ended 31 December 2023; to consider declaration of a final dividend for the year ended 31 December 2023; and to transact such other business matters. Ankündigung • Mar 05
Man Group Plc (LSE:EMG) announces an Equity Buyback for £50 million worth of its shares. Man Group Plc (LSE:EMG) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of shares. The purpose of the program is to distribute capital to shareholders while maintaining a prudent balance sheet after taking into account required capital and potential strategic opportunities, reduce the share capital of the company and to enable the Company to meet obligations arising from employee share option programs, or other allocations of shares to employees of the Company or to members of the administrative, management or supervisory bodies of the company, or an associate of the Company. The repurchase program is valid till March 3, 2025. Declared Dividend • Mar 03
Final dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 11th April 2024 Payment date: 22nd May 2024 Dividend yield will be 6.2%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (82% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 95% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: US$0.20 (vs US$0.47 in FY 2022) Full year 2023 results: EPS: US$0.20 (down from US$0.47 in FY 2022). Revenue: US$1.17b (down 33% from FY 2022). Net income: US$234.0m (down 62% from FY 2022). Profit margin: 20% (down from 35% in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Capital Markets industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 17% per year. Ankündigung • Feb 29
Man Group plc Recommends Final Dividend for the Financial Year Ended 31 December 2023, Payable on 22 May 2024 Man Group Plc recommended a final dividend of 10.7¢ per share for the financial year ended 31 December 2023, resulting in a total dividend of 16.3 cents per share for the year. This is in addition to the $125 million share buyback programme announced in 2023, and the intention to repurchase a further $50 million of shares. Ex-dividend date 11 April 2024, Record date is 12 April 2024 and payment date is 22 May 2024. Ankündigung • Jan 05
Man Group plc Announces Alberto Musalem Will Step Down from the Board and as A Member of the Remuneration Committee, Audit and Risk Committee and Nomination and Governance Committee on 29 February 2024 Man Group plc announced that, Alberto Musalem will step down from the Board and as a member of the Remuneration Committee, Audit and Risk Committee and Nomination and Governance Committee on 29 February 2024. This follows the announcement that Alberto will be appointed as the next President and Chief Executive Officer of the Federal Reserve Bank of St. Louis with effect from 2 April 2024. Ankündigung • Nov 21
Man Group Plc to Report Fiscal Year 2023 Results on Feb 29, 2024 Man Group Plc announced that they will report fiscal year 2023 results on Feb 29, 2024 Ankündigung • Nov 01
Man Group Plc (LSE:EMG) acquired 51% stake in Asteria Obviam from Fideuram - Intesa Sanpaolo Private Banking S.p.A. Man Group Plc (LSE:EMG) agreed to acquire 51% stake in Asteria Obviam from Fideuram - Intesa Sanpaolo Private Banking S.p.A. on June 29, 2023. While 49% will remain to Fideuram – Intesa Sanpaolo Private Banking. The team at Asteria has a track record of developing innovative solutions for the wealth management space and already has three funds with sustainable investment objectives. The transaction is subject to customary regulatory approvals – is expected to be completed by the end of 2023 and will not have any impact on F-ISPB’s existing partnerships and inhouse product manufacturing capabilities.Man Group Plc (LSE:EMG) completed the acquisition of 51% stake in Asteria Obviam from Fideuram - Intesa Sanpaolo Private Banking S.p.A. on October 31, 2023. The regulatory approvals have been obtained. Ankündigung • Sep 14
Man Group plc Announces Directorate Change Further to the announcement released on 28 February 2023, Man Group plc (the "Company") announced that: John Cryan, who has served as a director of the Company since January 2015 and as Chair of the Board since January 2020, will retire from the Board on 30 September 2023; Anne Wade, who has served on the Board as a non-executive director and as Chair of the Remuneration Committee since April 2020, will be appointed as Chair of the Board on 1 October 2023 and will step down as Chair of the Remuneration Committee on this date. The Company also announces that with effect from 1 October 2023: Laurie Fitch, who joined the Board on 25 August 2023, will be appointed as Chair of the Remuneration Committee and as a member of the Nomination Committee; Ceci Kurzman, who has served on the Board as a non-executive director since February 2020, will be appointed as a member of the Remuneration Committee and Nomination Committee; and Alberto Musalem, who has served on the Board as a non-executive director since November 2022, will also be appointed as a member of the Nomination Committee. Ankündigung • Sep 08
Man Group Plc (LSE:EMG) acquired controlling interest in Varagon Capital Partners from Aflac Global Investments and American General Life Insurance Company, Corebridge Financial, Inc. (NYSE:CRBG) and former members of Varagon's management team. Man Group Plc (LSE:EMG) entered into an agreement to acquire controlling interest in Varagon Capital Partners from Aflac Global Investments and American General Life Insurance Company, Corebridge Financial, Inc. (NYSE:CRBG) and former members of Varagon's management team for approximately $180 million on July 6, 2023. The transaction is subject to regulatory approvals and is expected to complete in Q3 2023. Wells Fargo Securities, LLC acted as financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to Man Group Plc (LSE:EMG). Rothschild & Co US Inc. acted as financial advisor and Michael Davis, Ajay B. Lele, Adam Kaminsky, Kevin A. Brown, Leor Landa, Jennifer Grant Cooper, David H. Schnabel and Aliza Slansky of Davis Polk & Wardwell LLP acted as legal advisor to Varagon Capital Partners.
Man Group Plc (LSE:EMG) acquired controlling interest in Varagon Capital Partners from Aflac Global Investments and American General Life Insurance Company, Corebridge Financial, Inc. (NYSE:CRBG) and former members of Varagon's management team on September 7, 2023. Man Group plc confirms that all necessary regulatory approvals have now been received and the acquisition. Ankündigung • Aug 26
Man Group plc Announces Appointment of Laurie Fitch as A Non-Executive Director of the Company and as A Member of the Audit & Risk Committee and Remuneration Committee Man Group Plc announced the appointment of Laurie Fitch as a non-executive director of the Company and as a member of the Audit & Risk Committee and Remuneration Committee with effect from 25 August 2023. It is intended that Laurie will be appointed as Chair of the Remuneration Committee when Anne Wade steps down from this role upon her appointment as Chair of the Man Group Board following John Cryan's departure later in the year. Laurie's background spans asset management and investment banking, with extensive experience in both capital markets and M&A. She is currently a partner in the Strategic Advisory Group of the investment banking firm, PJT Partners. Prior to this, Laurie spent four years in the Global Power and Global Industrials groups at Morgan Stanley, most recently as Head of the Global Industrials Group in Europe. Before that, she spent the majority of her career as an Analyst and Portfolio Manager at Artisan Partners and TIAA-CREF. She was a non-executive director of EnQuest PLC from 2018 - 2021 where she served as a member and, subsequently Chair, of the Remuneration Committee and as a member of the Risk Committee. Laurie currently serves on the Board of EDP (Energias de Portugal), the Portuguese listed utility company and one of the larger renewables developers, where she is a member of the Corporate Governance and Sustainability Committee and the US Business Affairs Monitoring Committee. She is a Trustee of the American University in Cairo, a co-opted member of the Audit Committee and the Finance & Operations Committee of the Tate Board of Trustees, and the Chair of Georgetown University's Center for Contemporary Arab Studies' Advisory Board. Reported Earnings • Aug 02
First half 2023 earnings released: EPS: US$0.07 (vs US$0.23 in 1H 2022) First half 2023 results: EPS: US$0.07 (down from US$0.23 in 1H 2022). Revenue: US$506.0m (down 43% from 1H 2022). Net income: US$83.0m (down 73% from 1H 2022). Profit margin: 16% (down from 35% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Capital Markets industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Ankündigung • Aug 02
Man Group plc Declares Interim Dividend for the Six Months Ended 30 June 2023, Payable on 22 September 2023 Man Group Plc declares an interim dividend of 5.6 cents per share for the six months ended 30 June 2023 +(30 June 2022: 5.6 cents), payable on 22 September 2023. Ex-dividend date 10 August 2023 and Record date is 11 August 2023. Ankündigung • Jul 07
Man Group Plc (LSE:EMG) entered into an agreement to acquire Varagon Capital Partners from Aflac Global Investments and American General Life Insurance Company for approximately $180 million. Man Group Plc (LSE:EMG) entered into an agreement to acquire controlling interest in Varagon Capital Partners from Aflac Global Investments and American General Life Insurance Company, Corebridge Financial, Inc. (NYSE:CRBG) and former members of Varagon's management team for approximately $180 million on July 6, 2023. The transaction is subject to regulatory approvals and is expected to complete in Q3 2023. Wells Fargo Securities, LLC acted as financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to Man Group Plc (LSE:EMG). Rothschild & Co US Inc. acted as financial advisor and Michael Davis, Ajay B. Lele, Adam Kaminsky, Kevin A. Brown, Leor Landa, Jennifer Grant Cooper, David H. Schnabel and Aliza Slansky of Davis Polk & Wardwell LLP acted as legal advisor to Varagon Capital Partners. Ankündigung • Jul 01
Man Group Plc (LSE:EMG) agreed to acquire 51% stake in Asteria Obviam from Fideuram - Intesa Sanpaolo Private Banking S.p.A. Man Group Plc (LSE:EMG) agreed to acquire 51% stake in Asteria Obviam from Fideuram - Intesa Sanpaolo Private Banking S.p.A. on June 29, 2023. While 49% will remain to Fideuram – Intesa Sanpaolo Private Banking. The team at Asteria has a track record of developing innovative solutions for the wealth management space and already has three funds with sustainable investment objectives. The transaction is subject to customary regulatory approvals – is expected to be completed by the end of 2023 and will not have any impact on F-ISPB’s existing partnerships and inhouse product manufacturing capabilities. Ankündigung • May 06
Man Group Limited Provides an Update on Final Dividend for the Year Ending 31 December 2022, Payable on May 19, 2023 Man Group Limited announced a final dividend for the year ending 31 December 2022 of 10.1 cents per ordinary share on 28 February 2023and communicated that the corresponding amount in Pence Sterling per ordinary share would be announced on 5 May 2023. The Pence Sterling amount payable in respect of the final dividend has been determined with reference to the average of the market exchange rates on the three working days commencing 2 May 2023, resulting in an applicable exchange rate of £1:US$1.2520.Accordingly, the Pence Sterling amount payable to shareholders in relation to the final dividend will be 8.07 Pence Sterling per ordinary share. The final dividend will be paid on 19 May 2023 to shareholders on the register at the close of business on 11 April 2023. Ankündigung • May 05
Man Group Limited to Report First Half, 2023 Results on Aug 01, 2023 Man Group Limited announced that they will report first half, 2023 results on Aug 01, 2023 Upcoming Dividend • Mar 31
Upcoming dividend of US$0.10 per share at 5.2% yield Eligible shareholders must have bought the stock before 06 April 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (3.4%). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to UK£2.87, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Capital Markets industry in the United Kingdom. Total returns to shareholders of 187% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£5.35 per share. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: US$0.47 (vs US$0.35 in FY 2021) Full year 2022 results: EPS: US$0.47 (up from US$0.35 in FY 2021). Revenue: US$1.73b (up 17% from FY 2021). Net income: US$608.0m (up 25% from FY 2021). Profit margin: 35% (up from 33% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 7.2% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in the United Kingdom are expected to grow by 5.7%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Ankündigung • Dec 07
Man Group Limited to Report Fiscal Year 2022 Results on Feb 28, 2023 Man Group Limited announced that they will report fiscal year 2022 results on Feb 28, 2023 Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CFO & Executive Director Antoine Hubert Joseph Forterre was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 03
First half 2022 earnings released: EPS: US$0.23 (vs US$0.16 in 1H 2021) First half 2022 results: EPS: US$0.23 (up from US$0.16 in 1H 2021). Revenue: US$887.0m (up 24% from 1H 2021). Net income: US$308.0m (up 35% from 1H 2021). Profit margin: 35% (up from 32% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 10% compared to a 5.0% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 31
Upcoming dividend of US$0.084 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (4.7%). Higher than average of industry peers (3.0%). Reported Earnings • Mar 02
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$0.35 (up from US$0.095 in FY 2020). Revenue: US$1.48b (up 58% from FY 2020). Net income: US$487.0m (up 253% from FY 2020). Profit margin: 33% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is expected to shrink by 3.6% compared to a 13% growth forecast for the funds industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. Board Change • Nov 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CFO & Executive Director Antoine Hubert Joseph Forterre was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 31
High number of new directors Global Head of Operations & Director David Barber was the last director to join the board, commencing their role in 2021. Reported Earnings • Jul 30
First half 2021 earnings released: EPS US$0.16 (vs US$0.027 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: US$718.0m (up 78% from 1H 2020). Net income: US$228.0m (up 485% from 1H 2020). Profit margin: 32% (up from 9.7% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 01
Upcoming dividend of US$0.057 per share Eligible shareholders must have bought the stock before 08 April 2021. Payment date: 21 May 2021. Trailing yield: 4.8%. Within top quartile of British dividend payers (4.3%). Higher than average of industry peers (2.7%). Analyst Estimate Surprise Post Earnings • Mar 04
Revenue beats expectations Revenue exceeded analyst estimates by 6.4%. Over the next year, revenue is forecast to grow 16%, compared to a 54% growth forecast for the Capital Markets industry in the United Kingdom. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS US$0.095 (vs US$0.19 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$939.0m (down 16% from FY 2019). Net income: US$138.0m (down 52% from FY 2019). Profit margin: 15% (down from 26% in FY 2019). The decrease in margin was driven by lower revenue. Funds under management (FUM) Beginning of period: US$117.7b End of period: US$123.6b Net inflows/outflows: US$1.80b inflow Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 02
New 90-day high: UK£1.58 The company is up 31% from its price of UK£1.21 on 02 December 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£3.07 per share. Executive Departure • Feb 11
Chief Investment Officer has left the company On the 4th of February, Sandy Rattray's tenure as Chief Investment Officer ended after 4.4 years in the role. We don't have any record of a personal shareholding under Sandy's name. A total of 3 executives have left over the last 12 months. Is New 90 Day High Low • Jan 27
New 90-day high: UK£1.53 The company is up 39% from its price of UK£1.10 on 28 October 2020. The British market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£2.97 per share. Is New 90 Day High Low • Jan 06
New 90-day high: UK£1.46 The company is up 27% from its price of UK£1.15 on 08 October 2020. The British market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£3.01 per share. Is New 90 Day High Low • Dec 17
New 90-day high: UK£1.34 The company is up 10.0% from its price of UK£1.21 on 18 September 2020. The British market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£2.47 per share. Is New 90 Day High Low • Dec 02
New 90-day high: UK£1.23 The company is up 1.0% from its price of UK£1.22 on 03 September 2020. The British market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£2.05 per share. 
