ANALYST VIEWS: WHAT IS THE LIKELY OUTCOME FOR F&C?

first_imgSunday 30 January 2011 10:36 pm More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com whatsapp Show Comments ▼ HAYLEY TAM | CITI“Whatever happens, it is likely to cause continued disruption to ongoing operations. If Sherborne loses the vote it will create a share overhang of about 17 per cent, which will need to be disposed of – but it will allow existing management to continue to run the company with minimum disruption. If F&C management loses, it will enter a new period of uncertainty that may or may not lead to longer-term value creation.”DAVID MCCANN | NUMIS“Regardless of who wins the vote, it is hard to see any short-term share price upside, but very easy to see significant short-term downside risk. If Sherborne loses, the share price could fall 30 to 44 per cent, as Sherborne, Aviva and other supporters’ stakes become stock overhangs. If Sherborne wins, we expect Millennium BCP to withdraw its assets under management and an 11 per cent stock overhang from Eureko.”SARAH ING | SINGER CAPITAL“Short of breaking the firm up to sell off low-margin businesses, it isn’t clear what F&C should do differently to address the current issues. Incumbent management has tried to invest in high margin businesses and isn’t to blame for F&C’s low valuation, which is largely a result of legacy issues, such as lack of organic growth in its funds due to ongoing insurance outflows and a lot of lower margin institutional business. F&C has also lost large chunks of assets over recent years.” KCS-content Share ANALYST VIEWS: WHAT IS THE LIKELY OUTCOME FOR F&C? whatsapp Tags: NULLlast_img

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