GREY:ITGQF - Post by User
Comment by
Methodon Sep 08, 2015 4:29pm
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Post# 24086840
RE:value and risk
RE:value and riskI sold a little up at $1.15 but I have bought most of that back now.
It might get hit if the market gets hit but it won't be based on the fundamentals, just liquidity. They manage primarily private real estate and OTC fixed income and all of their customers are insurance companies, endowments and pension funds.
In fact, they are in the middle of marketing two new funds and if successful, AUM should rise significantly in Calendar Q4 i.e. Fiscal Q1. The way they are structured they make money on putting funds to work (fees charged to the borrower) and ongoing fees (from the investor) once funds are invested.
The way I read the last quarterly report they will move to quarterly dividends and hopefully at a higher rate once they start putting some quarters under their belt at a higher AUM.
"John Robertson, President and Chief Executive Officer, said "We are extremely excited about the progress the Private Debt Group is making in raising the 5th Private Debt Fund and our first Infrastructure Debt Fund. When this is complete, towards calendar year end, the core businesses, Real Estate and Private Debt, will have 2 years of committed capital to invest. This means there should be a significant and steady increase in recurring revenue. That should have a beneficial effect on cash flow as well as building increasing stability of earnings"."