Pendal Group: Value gets another look in

By Scott Murdoch

15 April 2021, 5:00 PM

Pendal Group released their 2Q21 FUM. Investment performance has turned in a number of UK/EU value orientated funds, providing an improved outlook for flows and performance fees mid-term.

Financial Services - Platforms: Changes to cash come through

By Scott Murdoch

25 March 2021, 3:00 PM

Netwealth Group announced that ANZ has provided the 12-month notice period to terminate the current pooled cash deposit arrangements. Current rates will continue until Mar-22.

Pinnacle Investment Management: Performance begets performance

By Scott Murdoch

03 February 2021, 11:30 AM

Pinnacle Investment Management reported a big 1H21 result with extremely strong net inflows. In our view, PNI has structural growth embedded in the business and future optionality from adding new affiliates.

Credit Corp: Further capital deployment is the upside

By Scott Murdoch

02 February 2021, 5:00 PM

Following Credit Corp's 1H21 result, we remain positive on CCP’s long-term outlook given its balance sheet strength, a solid market position in both AUS/USA, and a material growth opportunity in the USA.

Magellan Financial Group: Dec-20 mark to market

By Scott Murdoch

12 January 2021, 12:30 PM

We view Magellan Financial Group's valuation as reasonable (~20x FY22F PE) with solid growth potential in the core business and optionality from new ventures.

Pinnacle Investment Management: Global delivers performance fee growth

By Scott Murdoch

06 January 2021, 12:00 PM

Pinnicle Investment Management (ASX:PNI) has announced 1H21 performance fees of A$11m (PNI NPAT share), up from a very minor contribution in 1H20 and 1H19 .

We retain an Add recommendation based on the embedded growth in the business (the maturing profile of existing Affiliates and investment strategies) and future optionality from adding new Affiliates.

Morgans Best Ideas: Magellan Financial (ASX:MFG)

By Scott Murdoch

10 December 2020, 3:00 PM

We have added Magellan Financial (ASX:MFG) to Morgans Best Ideas for December 2020. Morgans Senior Analyst Scott Murdoch explains why.

Financial Services: Fund managers - mark to market

By Scott Murdoch

09 July 2020, 9:50 AM

In this piece, I provide an update on the Financial Services sector. In detail, I discuss Magellan (MFG), Pendal (PDL) and Pinnacle Investment (PNI).

Financial Services - Platforms: expecting solid 4Q20 FUA levels

By Scott Murdoch

02 July 2020, 2:40 PM

We view NWL as a high-quality business, although fully valued at current levels. We retain an Add recommendation on HUB.

Credit Corp: Consistency counts

By Scott Murdoch

29 January 2020, 4:53 PM

We are positive on CCP with it having a strong, visible organic growth path, and further upside from likely capital deployment over 12-18 months. However, we retain a Hold based on valuation – looking for some additional upside to buy.