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rcman

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25/05/19

10:48

Post #: 38740855
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Originally posted by Richie2013 ↑

Interesting take on AMP from a contrarian view point.
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ASI MUTUAL INITIATES INVESTMENT IN AMP LIMITED ASX:AMP

AMP - MAYBE A BEACON FOR THE NOT SO FAINT HEARTED CONTRARIAN INVESTORS

ASI MUTUAL

MEDIA RELEASE

ASI INITIATES INVESTMENT IN AMP LIMITED ASX:AMP

AMP Limited (AMP) is an Australian wealth management company, with an expanding (slowed) international and investment management business and a growing retail banking business in Australia. It provides retail customers in Australia and New Zealand with financial advice and superannuation, retirement income and investment products. The Company's brand and financial performance has suffered badly as a result of regulatory and compliance breaches unearthed by the Australian Royal Commission into banking and financials in the country.

As Australia’s well known wealth manager, AMP Ltd, posted a near nine-fold increase in cash outflows at its wealth management unit earlier this month in the wake of damaging revelations of misconduct via the Royal Commission, sending its shares down sharply. The 170-year-old company was accused of charging fees for no service and attempting to deceive regulators at a government-mandated Royal Commission inquiry last year, which led to the loss of its chairman and chief executive. The Company has haemorrhaged billions of dollars in funds under management and is facing class-action lawsuits.

The Company noted however, that its assets under management, which includes investment performance, rose 5 percent “with positive investment markets offsetting weaker cash inflows”.

Fresh blood takes hold of the reins.....At his first annual general meeting with the company, Chief Executive Francesco de Ferrari said he was focusing on restoring stability after last year’s upheaval, while chasing new growth opportunities as the Royal Commission had driven out some competitors.

“This transformation for AMP is going to be a multi-year journey and it will not happen overnight,” he told the meeting. (the contrarians swan song!)

Total Shareholder Return (inc div) ALL MINUS - 1yr: -42.20% 3yr: -22.70% pa 5yr: -11.94% pa

Morningstar Quantitative Ratings
Valuation Rating: Undervalued
Fair Value Estimate: $2.615
Fair Value Percentage Difference: 15.48% Undervalued
Liquidity: High

Contrarian Investing is an investment strategy that is characterised by purchasing and selling in contrast to the prevailing sentiment of the time. A contrarian believes that certain crowd behaviour among investors can lead to exploitable mispricings in securities markets.

----------------------------------------------------------------------------------------
Michael de Tocqueville
Investment Director

ASI MUTUAL

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AMP Price at posting: $2.17 Sentiment: Buy Disclosure: Held
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0 Great analysis

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(20min delay)
Last $1.33		Change 0.000(0.00%)		Mkt cap ! $3.387B

Open	High	Low	Value	Volume
$1.33	$1.34	$1.32	$7.421M	5.595M

Buyers (Bids)

No.	Vol.	Price($)
2	5761	$1.33

Sellers (Offers)

Price($)	Vol.	No.
$1.33	228773	12

View Market Depth

No.	Vol.	Price($)
2	5761	1.325
3	121653	1.320
8	191107	1.315
11	304109	1.310
4	91888	1.305

Price($)	Vol.	No.
1.330	228773	12
1.335	432997	7
1.340	268575	18
1.345	210370	5
1.350	541343	66

Last trade - 16.10pm 01/10/2024 (20 minute delay)

AMP (ASX) Chart

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Takeover, page-188

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