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Fair enough! I can see why you'd invest a moderate amount based on attractive risk-reward factors. I don't understand fund management companies well either - could anyone with some knowledge of that industry shed any light on their prospects?
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Well the market certainly liked todays announcement,marking CNI up 6 cents or 6.2% to an all time high of $1.02.
All read very positively to me,and appears they are using the recycled capital well.Increased divie too.
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Reads very positively to me too. Very rapid growth in FUM in property investments (spurred by low interest rates), and very reasonable price (under 14x 1/2 year underlying earnings) make it look very attractive right now.
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We have to be a little careful as a good part of the increase profit was from sales and performance fees,which will be hard to repeat.
Looks as though we may have to wait for the second half result to get a better picture of "normal" on going earnings.
Still the ratios [PE and yield], are looking very modest,and the out look very good.
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I notice yesterday's announcement, where CNI have appointed UBS Securities, to act on the up to 9.9% of the issued capital share buy back.This should underpin the sp.l doubt we will see the sp under a dollar again.Maybe $1.30 to $1.35 may be a fair target price?
Last edited by percy; 21-02-2015 at 10:32 AM.
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 Originally Posted by percy
I notice yesterday's announcement, where CNI have appointed UBS Securities, to act on the up to 9.9% of the issued capital share buy back.This should underpin the sp.l doubt we will see the sp under a dollar again.Maybe $1.30 to $1.35 may be a fair target price?
Well since posting this, the share buy back has started, there has been further director buying, and most importantly, I have taken a position. lol.
No advice here. Just banter. DYOR
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Originally Posted by noodles
Well since posting this, the share buy back has started, there has been further director buying, and most importantly, I have taken a position. lol.
Can't ask for a better endorsement. lol.
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I picked up some at $1.02 a week or so back. Glad to be in more good company 
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CNI the cheapest
According to this Research, CNI is the cheapest of the fund managers. See pg.7
http://microequities.com.au/wp-conte...LA05032015.pdf
No advice here. Just banter. DYOR
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Originally Posted by noodles
Looks as though you and DarkHorse timed your buying to perfection.!
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