Misys’ stockmarket value would be increased by offloading Sesame for almost any price, according to analysts.Bell Lawrie small cap analyst Ian McArthur says he agrees with the sentiment of a recent Cazenove report which has been reported as suggesting Misys stock would be boosted by ditching the IFA network for a nominal fee. McArthur says by getting rid of Sesame, Misys would become a more complete, less diluted software player, making it more attractive. This view is endorsed by SG Securities which says the sale of Sesame will make Misys a purer software company, with potential for increased profits. Earlier this month, Misys’ share value rose after market speculation suggesting that Sesame was about to be sold. In terms of who would want to take on Sesame, McArthur says a few years ago people were forecasting a 300m to 400m possible float but now it is hard to think of a buyer. He says no provider would want to buy the network out- right and if there was an attempt to offload it through a management buyout deal, it would have to offer very high performance bonuses and incentives to the new regime. Rumours have also circu-lated about possible bids for Misys. McArthur speculates whether potential buyers would wait until the network has been sold before bidding or would try to sell Sesame after taking over. Sesame says it does not comment on market speculation.
More than a quarter of life office account managers will earn in excess of 100,000 plus benefits this year, according to financial services headhunters Paul Harper Search. For most intermediary facing salespeople, 100,000 has been seen as something of a magical figure, having been achieved by only a few brokers, but this is becoming increasingly […]
Gerrard Investment Management
Protected Hindsight Plan 1
Research from stockbroker Brewin Dolphin shows 53 per cent of people who invested in a unit trust over the past five years consulted an IFA and 77 per cent were satisfied or very satisfied with its performance. Out of the 31 per cent of investors who turned to friends, family and colleagues, or the 37 […]
Scottish Life has appointed Brian Bradshaw as area sales manager in Bristol where he will be responsible for developing business relationships with key IFAs in the region and managing a team of seven IFA sales consultants. He will report to head of branch sales, South, Paul England and joins from Barclays Financial Planning.
By Douglas Turnbull, Investment Director, Head of Chinese Equities China faces a ‘Rubik’s Cube’ policy trilemma, whereby it needs to sustain a minimum acceptable level of growth, deal with issues such as overcapacity and reform the financial system to make it a far more efficient allocator of capital. Given the contradictory nature of these objectives, […]
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
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The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]