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MaxMarioni's Insights

Insights for July 2016

Other Insights on Related Shares: FRES.L
Related Shares: Fresnillo Share Price

In this period of Brexit-induced instability, examples of companies with good investment potential in the current climate are few and far between. One such example which defies the trend is Fresnillo PLC: once again a mining stock, it has been the top performer on the FTSE 100 so far this year: it has gained over 180% since January. It has lost a bit of its value (2.40%) since its peak last week, however the overall upwards trend is unmistakable, as the compelling graph below shows. The relative decline since its peak was unavoidable given its record valuation and may also result in a lower price for the stock, making it more appealing to investors. With it however comes a record P/E share, 252.6. The stock has a market capitalisation of £13.780 billion. (Read more)

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This week there have been the first signs the UK is drifting into a fully-fledged financial crisis which is hitting the commercial property sector first. Six UK property funds from leading asset management firms have suspended redemptions in three days over Brexit fears: Aviva, Standard Life, M&G, Columbia, Henderson and Canada Life. The move, in agreement with the Financial Conduct Authority (FCA), has been in put in place over concerns the rapidly increasing pace of redemption requests from investors will lead to a devaluation of the assets still held in the fund. Henderson Global Investors highlighted "exceptional liquidity pressures... as a result of uncertainty following the EU referendum and the recent suspension of other direct property funds". As these funds invest in physical real estate such as office blocks, malls, supermarkets, and warehouses, fund managers need time to be able to sell the assets at the best price in order to safeguard the overall value of the fund and protect those investors who still hold the fund's shares. Redemption suspensions buy them time to sell the assets in an orderly way and for this reason they are deemed acceptable practice by the regulator. (Read more)

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