Asset Management

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

1:02

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

1:04

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

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

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

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

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

Tough H1 for Impax, but shares look detached from fundamentals

Impax is hardly the disaster implied by its share price, which is down 31% over six months and 68% over 12 - a forward PE of just 8.5 for a business…

Jun 9 • Paul Bryant

Polar flows hold up amidst heavy sector outflows

AUM hit by market falls, but Polar's net flows look strong in what is looking like an awful quarter for active asset managers

Apr 15 • Paul Bryant

A wild Q4 = a fascinating 2025

Headwinds, tailwinds, crosswinds part 2: an update on UK-listed asset managers

Jan 27 • Paul Bryant

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