Some tailwinds in store for attractively priced Quilter
Quilter's share price is down 18% on the London Stock Exchange and 14% on the JSE since it listed on June 25
South African investors will have to look beyond Quilter's declining share price to find value in the former Old Mutual’s wealth management business, analysts said on Monday. Even though Old Mutual shareholders were invested in the UK wealth manager through Old Mutual Plc before the managed separation, Quilter is a new stock on the JSE. Quilter is primarily listed on the London Stock (LSE) but about 61% of the shareholder base is still in SA. The company managed and administered £118bn of investments on behalf of its customers at the end of September 2018. Quilter's share price is down 18% on the LSE and 14% on the JSE since it listed on June 25. In pounds, shareholder returns are also down 9% over the last four months, although SA shareholders benefitted from a weaker Rand. But analysts point out that when looking at its UK peers, Quilter has done better since it became a standalone company. "I would argue that the share price performance has disappointed since listing. [But] they ...
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