Market Commentary September 2012

Please find this month’s Market Commentary newsletter, which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market.

In the newsletter, we highlight our preferred investments at this time. Last month’s recommendations performed well with Balfour Beatty up 11.2%, BHP up 6.2% and IG up 4.2%, producing a respectable overall one-month return of 2%.

If we can be of any assistance, please contact us on +350 200 75181.

Market Commentary August 2012

Please find this month’s Market Commentary newsletter, which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market.

In the newsletter, we highlight our preferred investments at this time. Last month’s recommendation performed well with BP and SSE rising an impressive 4% and 5% respectively.

If we can be of any assistance, please contact us on +350 200 75181.

CLS Holdings Plc 5.5% 31/12/2019

Multinational property company CLS Holdings Plc is issuing a seven year sterling bond with a 5.5% coupon.
Though the issue does not carry a rating, we feel this bond looks good value against the 1% offered by the benchmark Treasury gilt. With the general consensus forecasting a long period of low interest rates, the issue looks attractive.
The senior ranking of the bond combined with covenants (see attached) and the steady course steered by CLS’s management through the last property market fall (they sold 40% of the Group’s property portfolio between 2006 and 2008) suggests that the bond offers a good risk/return ratio.
We are taking orders for settlement until the 4th of September, however we expect the issue to close early due to strong demand. If you would like to purchase some bonds at par (the minimum size is £2,000 and they trade in multiples of £100 thereafter), please register your interest with your stockbroker or by contacting us on 200 75181 or email to dealers@gam.gi.
Similar issues have traded above par after admission to trading in the secondary market and with a target raising of just £50m, we expect this bond to do the same.

Sell Platinum / Buy Gold

We are advising holders of platinum to switch out of the white metal and into gold.

Market Commentary July 2012

Please read this month’s Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market.

In the newsletter, we highlight our preferred investments at this time. Last month’s recommendation performed well with Reckitt Benckiser rising an impressive 4.3%.

If we can be of any assistance, please contact us on +350 200 75181.

Market Commentary June 2012

Read this month’s Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market.
In the newsletter, we highlight our preferred investments at this time. Last month’s recommendations performed well with Royal Dutch Shell up 8.2%, Astrazeneca 9.2%, BHP Biliton 5.7%, BAE Systems 4.7% and RSA an impressive 8.24%.

General Accident 8 7/8% Preference Shares – Buy

With base rates remaining stubbornly at 0.5%, income seekers are finding it hard to generate the kind of income they have grown accustomed to in recent years. However, for those prepared to widen their income-seeking horizon, there are attractive opportunities.
A hybrid of an ordinary share and a bond, preference shares stand in front of (i.e. are preferred to) ordinary shares in the queue for cash when a company is wound up, but behind all forms of company debt. They are also preferred to ordinary shares for dividend payments; indeed, no ordinary dividend can be paid until all dividends due to preferred holders have been paid.
We are recommending to our clients the General Accident 8 7/8% Preference Shares. A wholly-owned subsidiary of Aviva Plc, they are cumulative, meaning if the dividend is not paid one year, it is rolled up to the next. Priced at 104.5 pence per share, the current yield is yield 8.5%. Please find attached further information along with our guide to the preference share market.

Market Commentary May 2012

Read this month’s Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market.
In the newsletter, we provide our view on the current state of the Eurozone and the possible future direction of the stock market.
We also highlight our preferred investments at this time including Astrazeneca (7.1x P/E & 7.3% yield), BHP Billiton (8.2x P/E & 4.1% yield) and Royal Dutch Shell (7.2x P/E & 5% yield).

GAM Joins the Twitter Community

GAM is pleased to announce it is embracing the internet revolution by releasing its Twitter account at Gibraltar Asset Mgmt @GibAssetMgmt. Our people can also be followed on their GAM handles (DjamalAdibGAM, PaulBraileyGAM, IsabelDuqueGAM & MarkMaloneyGAM).
The purpose of our Twitter account is to build deeper relationships with our customers and serve as a thought leadership platform for the company and our industry.
We shall be regularly tweeting the release of notices, investment research as well as keeping our clients up-to-date on important stock market events. We feel this will bring us even closer to our client base and accordingly provide increased added value.

Market Commentary April 2012

Read this month’s Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market.
In the newsletter, we explain why we believe the market will, in all likelihood, trade in a trendless manner in the near future, based upon a variety of technical and fundamental factors.
We also highlight our preferred investments at this time including Astrazeneca (7.2x P/E & 7% yield), Balfour Beatty (7.4x P/E & 5.5% yield), Vodafone (11x P/E & 7.9% yield) and silver.