Here is the latest breakdown of performance per fund. When you take into account PAC ownership, FUM increased by 6.37%. This is just stronger than Magellan which has a PE Ratio of 21.24 (based on $2.261 EPS), compared to PAC PE ratio of 16.67 ($0.43 EPS). If PAC moved to PE ratio of 21.24 due to the market recognising its portfolio growth, share price will be $9.13. I also think PAC earnings are much more stable than MFG due to growth achieved over 14 boutique fund managers, Magellan is one big boutique. Undervalue rant over.....
While Proterra is currently only 8% owned (based on share of revenue fee), PAC ownership increases to 16% when Proterra achieves UK license (assuming PAC is helping out here).
In short, Carlisle Group was definitely a great purchase, Victory Park has started to pick up the pace and Seizert has stemmed the bleeding of FUM. GQG is still going strong and will be interesting to hear @HeightsBoy thoughts after meeting with GQG's BDM in a few weeks.
Will also assume Brexit is close to conclusion with the UK elections coming up. This in turn may see a change of fortune for CAMG FUM. More upside for growth.
Best of Luck Lost
PAC Price at posting:
$7.17 Sentiment: Buy Disclosure: Held
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