Who’s who in UK-listed asset & wealth management

Runners and riders covered by this newsletter & what to expect

Dec 4 • 

Paul Bryant

Mercia: A fund management business and a cash pile for free?

If the NAV of its investments is correct, then yes. In H1-26, EBITDA & margin were up again, growth outlook is solid, and the huge discrepancy between…

Dec 4 • 

Paul Bryant

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1:02

November 2025

Tatton delivers again

Profit +20%, dividend +26%, strong outlook

Nov 25 • 

Paul Bryant

1:07

H1 growth tees Polar up for strong FY26

25% AUM growth over H1-26 was far stronger than all peers and almost five times the sector-median

Nov 19 • 

Paul Bryant

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1:04

October 2025

More juice in Jupiter's jump?

Share price up over 100% from heavily oversold levels. But even after that jump, the bull case looks stronger than the bear case.

Oct 30 • 

Paul Bryant

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Markets mask leader-laggard separation in Q3

UK-listed wealth managers enjoyed a big boost from markets in Q3. But when it comes to attracting & retaining client money, some are flying, some are…

Oct 23 • 

Paul Bryant

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PensionBee looking on track

Strong customer growth, efficient marketing spend, US close to being 'fully live'

Oct 22 • 

Paul Bryant

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Jupiter jumping. Liontrust limping. Why?

After a rough few years for both stocks, Jupiter has bounced, Liontrust hasn't. What's behind recent moves? Can Jupiter run further? Can Liontrust…

Oct 13 • 

Paul Bryant

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All eyes on Wealth Managers' Q3 flows

Markets have provided a solid tailwind in Q3 (expect a 5-6% contribution to AUM). Net flows will show us who's winning the battle for clients' capital.

Oct 5 • 

Paul Bryant

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September 2025

Is that chink of light an investment opportunity?

The state of play of UK-listed asset managers. Part 2: valuation, financials, strategic moves

Sep 8 • 

Paul Bryant

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August 2025

Is that a chink of light?

A look back at UK-listed asset managers' H1-25 & a look forward to H2 and beyond. Part 1: The (confusing) AUM picture.

Aug 28 • 

Paul Bryant

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July 2025

Mercia: it won’t take long to see who's right

Share price heavily discounts on-balance-sheet investments. Mercia intends to sell most of them within 2 years. It won’t take long to see who's right.

Jul 3 • 

Paul Bryant

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