Tag: Motley Fool

Key points

• The ASX’s largest domestic pure play industrial REIT has made more acquisitions
• Centuria Industrial Reit is spending $132.4 million on six properties that come with an initial yield of 4%
• One of the properties, in Campbellfield, is an eight-hectare site where a brand new, sustainable industrial estate of 44,000 sqm will be delivered

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Centuria Industrial Reit (ASX: CIP), a leading property business, announced the acquisition of six more properties today.

This business is the largest domestic pure play industrial real estate investment trust (REIT). It owns properties across Australia, predominately in urban locations.

Centuria Industrial Reit portfolio gets bigger

The REIT has announced $132.4 million of acquisitions to buy six high-quality assets in urban, infill markets.

It includes a five-unit Campbellfield development which will have a completion value of $104 million. This is an eight-hectare site in north Melbourne which has a short-term lease. When that lease expires, a project delivery agreement will take effect and a brand new, sustainable industrial estate of 44,000 sqm will be delivered.

Three of the acquisitions adjoin existing Centuria Industrial Reit assets, consolidating larger sites in land constrained markets.

Four of the properties are in Victoria, with one in NSW and one in Queensland. These locations are in high demand from e-commerce operators seeking close proximity to densely populated areas to improve supply chain efficiencies.

The total gross lettable area being acquired is around 41,000 sqm. The average initial yield across the acquisitions is 4% with a capitalisation rate of 4.2%. All of the properties are 100% occupied and the weighted average lease expiry (WALE) is 4.7 years.

Why did the REIT buy these properties?

Centuria Industrial Reit says that one of its strategic focuses is to provide investors with exposure to urban infill industrial locations that cater to last-mile e-commerce operators.

The business says that the urban infill locations of these eastern suburban acquisitions provide a favourable leasing outlook for rental growth, underpinned by near zero vacancy, buoyant tenant demand and limited land supply. These conditions provide opportunities to extract outsized returns from the assets, according to the REIT.

The fund manager of Centuria Industrial Reit, Jesse Curtis, said:

The purchase of this portfolio marks a strong start to 2022 and continues to demonstrate Centuria Industrial Reit’s management capability to source and execute on strategic acquisitions.

The Campbellfield site provides a rare, value-add opportunity to deliver a much-needed new and sustainable multi-unit industrial estate to attract high-quality tenant customers and premium rents.

The other acquisitions’ WALE and rent review structures provide rental upside opportunities. The acquisitions adjoining existing Centuria Industrial Reit-owned assets create future development sites of scale in desirable and land constrained urban infill markets.

These acquisitions increase Centuria Industrial Reit’s total portfolio to be worth around $4 billion and will be funded by new and existing debt facilities.

The post Centuria Industrial Reit (ASX:CIP) share price rises after six more acquisitions appeared first on The Motley Fool Australia.

More reading

• Analysts name 2 ASX dividend shares to buy
• Here are 2 top ASX dividend shares with attractive yields
• 2 excellent ASX 200 dividend shares to buy now
• Got money to invest for income? Here are 2 ASX dividend shares that could be buys

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Although the outlook for interest rates is improving, it still looks likely to be some time until rates are at a level sufficient to generate a passive income.

In light of this, dividend shares could be one of the better ways to achieve a passive income for a little while to come.

But which dividend shares should you buy? Two that analysts rate highly right now are listed below:

BHP Group Ltd (ASX: BHP)

The first ASX dividend share to look at is this mining giant. It could be a top option due to its world class portfolio of operations globally and favourable commodity prices.

This is expected to underpin significant free cash flow in FY 2022. So much so, the team at Macquarie is forecasting very generous dividend payments this year and in the future. For example, iys analysts have pencilled in fully franked dividends of ~$3.86 per share in FY 2022 and ~$2.86 per share in FY 2023.

Based on the current BHP share price of $46.15, this will mean yields of 8.4% and 6.2%, respectively.

Macquarie also sees decent upside for BHP shares and has an outperform rating and $52.00 price target.

Macquarie Group Ltd (ASX: MQG)

Another ASX dividend share to consider is investment bank Macquarie. Although its shares have been very strong performers over the last 12 months, the team at Citi still see value in them and expect attractive yields in the near term.

The broker currently has a buy rating and $226.00 price target on the company’s shares. As for dividends, Citi is forecasting dividends per share of $6.42 in FY 2022 and then $6.10 in FY 2023.

Based on the current Macquarie share price of $207.61, this will mean yields of 3.1% and 2.9%, respectively, over the next couple of years.

The post 2 buy-rated ASX dividend shares appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Is the iron ore price set to slide?
• Does the BHP London share price perform the same as the company’s ASX:BHP listing?
• 5 things to watch on the ASX 200 on Monday
• The BHP (ASX:BHP) unification vote is next week and not everyone is happy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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There are a lot of options for investors to choose from on the ASX 200. Two that could be in the buy zone right now are listed below.

Here’s why analysts rate them as buys:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX 200 share to look at is Aristocrat Leisure. It is one of the world’s leading gaming technology companies responsible for many of the most popular pokie machines globally. In addition to this, the company has a growing digital business with a portfolio of hugely popular mobile games such as RAID: Shadow Legends. It is also in the process of acquiring UK listed real money gaming business Playtech for $3.9 billion.

Morgans is a fan of the company and currently has an add rating and $52.00 price target on its shares.

It commented: “We reiterate our ADD rating. In our opinion, the acquisition of PTEC gives ALL the opportunity to get to scale quickly in a market segment forecast to grow at a double-digit rate over the next five years. We expect the strong sector growth to be driven by a North America market growing at a CAGR of close to 50% as more US states liberalise and allow online iGaming and online sports betting.”

CSL Limited (ASX: CSL)

Another ASX 200 share that could be in the buy zone is CSL. It is one of the world’s leading biotechnology companies, comprising the CSL Behring and Seqirus businesses. Both are leaders in their respective fields – plasma therapies and vaccines.

Citi is bullish on the company, particularly following its Vifor Pharma acquisition announcement, and appears to see the weakness in the CSL share price as a buying opportunity for investors. It has a buy rating and $340.00 price target on its shares.

Citi said: “CSL has announced that the acquisition of Vifor Pharma – it is acquiring the company at CHF165.5 (US$179.25), a ~65% premium to where the stock was trading pre bid discussion and a ~37% premium to the three-month VWAP. We calculate the acquisition to be ~9% accretive to NPATA per share (NPAT before acquisition-related amortization) – a proxy for cash flow.”

The post 2 outstanding ASX 200 shares to buy this month according to analysts appeared first on The Motley Fool Australia.

More reading

• Why did the CSL (ASX:CSL) share price have such a lousy year in 2021?
• Top brokers name 3 ASX shares to buy next week
• 3 top ASX 200 shares to buy in January
• Experts tip the ASX sectors that are set to outperform in 2022
• Own CSL (ASX:CSL) shares? Here’s how the $17bn Vifor Pharma acquisition will boost its growth

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Before 2020, Transurban Group (ASX: TCL) was an ASX 200 share that had a reputation as one of the most resilient ASX dividend shares on the market. With its primary business of providing inflation-indexed toll roads, it had the perfect business model for providing a rising stream of dividend income to its yield-hungry investors. Or at least, that’s what many people thought. As it turned out, a global pandemic was the Transurban dividend’s kryptonite.

Until 2020, Transurban was one of the ASX companies that managed to deliver an annual dividend increase every year since 2009. Back in ’09, Transurban forked out a total of 11 cents per share in dividends. 2019 saw the company dole out 61 cents per share. That’s a very healthy increase of 527% over that decade.

When the car tolls (or not)…

But alas, 2020 was a dire year for the company as many would-be motorists stopped commuting and travelling, stayed home and left Transurban’s network of tolled roads bare. To illustrate, the company’s last posted quarterly update for the 3 months to 30 September showed its overall daily traffic volumes came in at 34.5% below the same quarter in 2019.

So it was perhaps no surprise that Transurban only paid out a total of 31 cents per share in dividends in 2020. The picture was slightly brighter last year though, with the company upping its output to 36.5 cents per share. But even that metric is far below the company’s 2019 high watermark of 61 cents per share. As it stands today, the Transurban share price is offering a yield of 2.74%. That comes from its closing share price of $13.24 and the 36.5 cents per share in dividends it paid out over 2021.

So what does 2022 hold in store for income investors who own Transurban shares? Will it be a return to the glory days?

What are experts saying about Transurban’s dividend outlook?

Well, we don’t know for sure yet, of course. But we can take note of what some expert investors are predicting. As my Fool colleague James covered earlier this month, broker Morgans reckons the company will be able to keep ramping its dividends up, but in a slow-but-steady manner.

It is expecting the company to fork out 35 cents per share in FY2022, followed by payments worth 55.3 cents per share by FY2023. The latter would equate to a forward yield of 4.18% on current pricing. So it might be a while until Transurban’s glory days are back, if this analysis is to be believed. But no doubt shareholders will appreciate the progress the company has made on the income front since 2020 nonetheless.

The post Own Transurban (ASX:TCL) shares? Here’s what its 2022 dividends might look like appeared first on The Motley Fool Australia.

More reading

• 2 top ASX shares for a retirement portfolio
• Why analysts slapped buy ratings on these ASX shares
• Morgans names 2 ASX 200 dividend shares to buy
• Why Afterpay, Healius, IDP Education, and Transurban shares are falling
• ASX 200 (ASX:XJO) midday update: CBA rises, Sandfire’s MATSA update

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Key points

• The Flight Centre share price surged 3.87% on Monday, closing at $17.97
• On Sunday, the company’s CEO Graham ‘Skroo’ Turner was quoted as saying Queensland’s international re-opening could signal the final stage of the pandemic
• Turner also said he expects Flight Centre will receive an influx of bookings from the state, starting in April

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The Flight Centre Travel Group Ltd (ASX: FLT) share price soared on Monday. The gains have come after the company’s CEO Graham ‘Skroo’ Turner said he’s positive the travel industry has overcome the worst of the pandemic.

As of Monday’s close, the Flight Centre share price is $17.97. That’s 3.87% higher than it was at the end of Friday’s session.

For context, the S&P/ASX 200 Index (ASX: XJO) also finished the day in the green having gained 0.32%.

Let’s look at why the travel agent’s boss is predicting the return to normality.

Flight Centre share price gains amid boss’ optimism

The Flight Centre share price recovered today after tumbling 4.5% on Friday.

Meanwhile, Turner has been quoted by Queensland’s Courier-Mail as saying the state’s reopening could be the “beginning of the end” of the COVID-19 pandemic.

Queensland is expected to open its international borders without restrictions to fully vaccinated travellers once 90% of the state’s residents have received at least two doses of a COVID-19 vaccine.

Queensland Premier Annastacia Palaszczuk expects that target will be met around the end of this week. As of today, 88.7% of Queenslanders have been double jabbed.

However, Turner predicts demand for travel won’t pick up until current outbreaks have subsided. The Courier-Mail quoted Turner as saying:

The only dampener now has been Omicron because it’s far more widespread than Delta ever was…

As soon as the peak is reached and people see it’s coming back to normal that’s when people will be booking for April, May and June – I’m pretty optimistic.

The final hurdle for Queensland may come less than a week after the state removed restrictions on domestic arrivals.

Previously, those travelling from declared hot spots had to provide a negative COVID-19 test. That was relaxed to allow a negative rapid antigen test before being scrapped altogether on Saturday.

Queensland’s chief health officer Dr John Gerrard commented on the lifting of domestic border restrictions, saying:

The border restrictions have served their purpose which is to allow every Queenslander access to the vaccine, they have achieved that.

Right now, the Flight Centre share price is up 2% year to date. Though, it’s gained 6.7% over the last month.

The post Flight Centre (ASX:FLT) share price gains after boss anticipates ‘beginning of the end’ of COVID appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Why did the Flight Centre (ASX:FLT) share price slump on Thursday?
• Why did the Flight Centre (ASX:FLT) share price have such a volatile year in 2021?
• These are the 10 most shorted ASX shares
• Buying ASX shares in 2022? Here’s what you need to know: expert

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) put its best foot forward to start this new week off. At the end of the session, the benchmark index finished 0.32% into the green at 7,417.3 points.

A poor session for materials and property shares wasn’t enough to put a dampener on the market today. Despite consumer discretionary giant Wesfarmers Ltd (ASX: WES) warning of impacts from Omicron, investors paid more attention to the reaffirmed net profit guidance of between $1.18 billion to $1.24 billion for the first half. Other ASX consumer discretionary shares followed in tow today as the sector jumped 2.42%.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Pendal Group Ltd (ASX: PDL) was the biggest gainer today. Shares in the global investment company regained 7.80% after its fall on Friday following the announcement of its chair, James Evans, retiring. Find out more about Pendal Group here.

The next biggest gaining ASX share today was Whitehaven Coal Ltd (ASX: WHC). The coal-producing company rallied 4.29% despite there being no new announcements. Uncover the latest Whitehaven Coal details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Pendal Group Ltd (ASX: PDL)	$5.39	7.80%
Whitehaven Coal Ltd (ASX: WHC)	$2.92	4.29%
Magellan Financial Group Ltd (ASX: MFG)	$20.48	4.22%
Beach Energy Ltd (ASX: BPT)	$1.455	3.93%
Flight Centre Travel Group Ltd (ASX: FLT)	$17.97	3.87%
Wisetech Global Ltd (ASX: WTC)	$54.09	3.76%
Domino’s Pizza Enterprises Ltd (ASX: DMP)	$106.88	3.42%
JB Hi-Fi Ltd (ASX: JBH)	$46.64	3.37%
Worley Ltd (ASX: WOR)	$11.78	3.15%
Pro Medicus Ltd (ASX: PME)	$47.84	2.68%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Why the Pendal Group (ASX:PDL) share roared 8% higher on Monday?
• These 3 ASX 200 shares are topping the volume charts on Monday
• ASX 200 (ASX:XJO) midday update: Wesfarmers’ update, energy shares rise
• 5 things to watch on the ASX 200 on Monday
• These were the worst performing ASX 200 shares last week

Motley Fool contributor Mitchell Lawler owns Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Pro Medicus Ltd. and WiseTech Global. The Motley Fool Australia owns and has recommended Pro Medicus Ltd., Wesfarmers Limited, and WiseTech Global. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Key points

• ASX 200 tech shares finished the day in the green on Monday
• Afterpay closed slightly in the red after recovering from a steep fall earlier in the day
• Technology shares followed the performance of the tech shares on US markets

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ASX 200 tech shares finished in the green today after their NASDAQ counterparts rebounded at the end of last week.

The S&P/ASX All Technology Index (ASX: XTX) closed up 0.68% today, while the S&P/ASX 200 Info Tech (ASX:XIJ) index finished 0.75% higher.

Let’s take a look at what happened to ASX 200 tech shares today.

Why are tech shares in the green?

ASX tech shares seemed to be following in the footsteps of the tech rally in the United States on Friday.

The NASDAQ-100 Technology Sector Index (NASDAQ: NDXT) finished up 1.41% on Friday night in the US. This often sets the pace for Australian tech shares, as my Foolish colleague James noted this morning.

The Megaport (ASX: MP1) share price closed 1.15% higher, trading at $18.41. Meanwhile, software provider TechnologyOne (ASX: TNE) also had a good day, up 2.06%.

Artificial Intelligence data provider Appen Ltd (ASX: APX) jumped 0.2% while Xero Limited (ASX: XRO) rose 0.43%. Altium Limited (ASX: ALU) gained 1.54% while telecommunications provider Chorus Limited (ASX: CNU) closed the session 1.23% higher.

One ASX 200 tech company that had a roller-coaster day is Afterpay Ltd (ASX: APT). The buy now, pay later company’s shares closed slightly lower, down 0.84% to $68.45.

However, earlier this morning, Afterpay shares dropped 2.79% from Friday’s close to an intraday low of $67.10. This may be because Block Inc (NYSE: SQ) also fell 2.67% on Wall Street on Friday night. Afterpay will trade on the ASX for the final time on 19 January pending its takeover by Block.

Today’s gains for ASX 200 tech shares follow a sell-off on Friday when the All Technology Index dropped 2.56%. Meanwhile, the S&P/ASX 200 Info Tech Index fell 3.94% on the final day of last week.

The post How did ASX 200 tech shares perform on the market today? appeared first on The Motley Fool Australia.

More reading

• Zip (ASX:Z1P) will become the largest pureplay BNPL on the ASX this week. What might this mean for shareholders?
• 5 things to watch on the ASX 200 on Monday
• Why Afterpay, BWX, Pendal, and Temple & Webster shares are sinking
• Is the slide in BNPL shares like Zip (ASX:Z1P) just getting started?
• ASX 200 (ASX:XJO) midday update: Qantas cuts capacity, Afterpay hits 52-week low

The Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Afterpay Limited, Altium, Appen Ltd, Block, Inc., and MEGAPORT FPO. The Motley Fool Australia owns and has recommended Afterpay Limited and Appen Ltd. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Key points

• Bitcoin takes top spot as the most popular crypto among Australian investors on eToro
• Opened positions in the original cryptocurrency increased 223% year on year in 2021
• Cardano, Dogecoin, and Shiba Inu are rapidly gaining popularity with investors

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Despite the creation of countless new cryptocurrencies since the creation of Bitcoin (CRYPTO: BTC), the original decentralised protocol remains the most popular among investors. However, newer names are attracting plenty of attention in their own right.

More than 16,000 cryptos exist in 2022. Though, the market capitalisation of Bitcoin accounts for 39.4% of the entire value of all crypto assets combined. Similarly, investment platform eToro recently published data showing Bitcoin as the most popular cryptocurrency among its investors.

Here’s a closer look at the platform’s findings of 2021.

What cryptos made it into the average portfolio in 2021?

Last year was a rollercoaster year for most cryptographic assets, taking investors along for a wild ride. Fortunately, 2021 would go down as a positive return provider for some of the major cryptocurrencies — including Bitcoin and Ethereum (CRYPTO: ETH).

According to eToro’s data, Bitcoin trumped other crypto investments to take out the top spot as the most open position, both globally and in Australia. Moreover, opened Bitcoin positions increased 223% year on year as the cryptocurrency climbed in price from A$41,790 to A$65,670.

On the global stage, Bitcoin’s position was unchanged at number one. Whereas, in Australia, Bitcoin lifted from the third spot to number one, as shown below.

Cryptoasset	2021 ranking	Ranking change
Bitcoin (BTC)	1	+2
Cardano (ADA)	2	+7
Ether (ETH)	3	-1
Shiba Inu (SHIB)	4	New
XRP (XRP)	5	-4
Dogecoin (DOGE)	6	New
Decentraland (MANA)	7	New
Solana (SOL)	8	New
TRON (TRX)	9	-2
Polkadot (DOT)	10	New

Interestingly, Cardano (CRYPTO: ADA) secured second place in 2021, jumping up seven spots. This cryptocurrency is mostly in competition with Ethereum, having successfully used a proof-of-stake consensus mechanism. Notably, the staking method provides holders with the potential for passive income from staking their crypto.

eToro’s Australian market analyst, Josh Gilbert touched on the income opportunity made available by Cardano and others, stating:

Crypto has definitely hit the mainstream in Australia throughout 2021. Australian investors are looking for ways to capitalise on income opportunities, so it’s no surprise to see the two cryptoassets that provide staking rewards, ADA and TRX, in the top 10 list.

Who let the dogs out?

After making a splash onto eToro’s platform in 2021, Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) rapidly gained popularity, cementing their spots as sixth and fourth most popular among eToro investors respectively.

Despite being based on a meme, these tokens have been taken seriously among investors, featuring in the top 10 most popular in Australia. However, a disconnect between popularity and worth still exists for these dog-themed cryptos. At present, Dogecoin and Shiba are ranked eleventh and fourteenth in terms of market cap.

The post Bitcoin (CRYPTO:BTC) takes most popular crown, here are 3 cryptos hot on its heels appeared first on The Motley Fool Australia.

More reading

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• Crypto is crashing: Should you invest now?
• Bitcoin could hit ‘death cross’ soon! Expert explains why this is great
• Is Bitcoin making share prices more volatile?
• Bitcoin, Ethereum, and Dogecoin surge higher as crypto markets recover

Motley Fool contributor Mitchell Lawler owns Bitcoin, Dogecoin, and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Key Points

• The Pendal share price closed up 7.8% to $5.39
• It comes amid a board reshuffle following departure of the company’s chair
• The incoming Deborah Page will assume the head role

The Pendal Group Ltd (ASX: PDL) share price finished in positive territory today following changes to its board.

At market close, the fund manager’s shares were 7.8% higher at $5.39. But despite today’s strong gains, the company’s shares are still down more than 6% in a week.

What’s driving Pendal shares higher?

Investors are buying up Pendal shares after the company announced a change in its board members.

According to the comany’s announcement, Pendal advised James Evans has decided to retire as chair of the board with immediate effect.

Stepping into his shoes as of today will be current director of the Pendal board Deborah Page.

Evans’ tenure within the company lasted for almost 12 years. He’s held the chair position for the last 8 years.

During his time, Evans successfully transformed Pendal from an Australian-only fund manager into a global asset management powerhouse. Funds under management (FUM) leapt from $34.3 billion to $135.7 billion as at 31 December 2021.

The period included the acquisition of J O Hambro Capital Management (JOHCM) and, more recently, Thompson, Siegel and Walmsley (TSW).

Incoming chair Page took up the role as independent non-executive director of Pendal in April 2014. She also served as chair of the audit and risk committee since 2016.

The release noted Page has extensive experience as a company director and chair across a range of sectors. These include funds management, insurance, and technology.

Currently, she is a director of ASX listed companies Brickworks Ltd (ASX: BKW), Growthpoint Properties Australia (ASX: GOZ), and Service Stream Ltd (ASX: SSM).

Furthermore, the board announced the inclusion of Ben Heap as an independent non-executive director from 1 March 2022.

Heap previously held the title as managing director for UBS Global Asset Management in Australia. Prior to this, he held senior roles with UBS Global Asset Management, based in New York.

Pendal share price review

It’s been a disappointing year for the Pendal share price, falling by almost 17% in the 12-month period. Recently, the company’s shares reached a 52-week low of $4.73 before staging a small rebound.

Based on valuation grounds, Pendal commands a market capitalisation of roughly $2.06 billion, with approximately 382 million shares on hand.

The post Why the Pendal Group (ASX:PDL) share roared 8% higher on Monday? appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares last week
• Pendal (ASX:PDL) share price ends disastrous day of trade down 16%
• Why Afterpay, BWX, Pendal, and Temple & Webster shares are sinking
• ASX 200 (ASX:XJO) midday update: Qantas cuts capacity, Afterpay hits 52-week low
• Here’s why the Pendal (ASX:PDL) share price is tumbling 6% lower today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Brickworks. The Motley Fool Australia owns and has recommended Brickworks. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In late trade, the S&P/ASX 200 Index (ASX: XJO) looks set to start the week with a decent gain. At the time of writing, the benchmark index is up 0.4% to 7,425 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Beforepay Group Limited (ASX: B4P)

The Beforepay share price is down 42% to $1.95. This follows the completion of the personal lender’s initial public offering (IPO) today. Beforepay raised $35 million at $3.41 per new share. These funds will be used to invest in additional customer acquisition, support growth in cash outs, invest in product and credit model refinements, and explore the viability of overseas opportunities.

Firefinch Ltd (ASX: FFX)

The Firefinch share price is down 1.5% to 73 cents. This appears to have been driven by weakness in the gold price which offset a solid quarterly update. According to the release, Firefinch’s quarterly production was 11,115 ounces of gold. This was towards the upper end of its guidance range of 10,000 ounces to 11,500 ounces.

Kogan.com Ltd (ASX: KGN)

The Kogan share price has fallen 3% to $8.00. This follows the release of an update from Wesfarmers Ltd (ASX: WES). That update revealed that Wesfarmers’ Catch business delivered first half gross sales growth of just 1%. As Catch and Kogan have previously had similar growth rates, this update may not bode well for the latter’s half year results next month.

South32 Ltd (ASX: S32)

The South32 share price is down over 3% to $4.04. This mining giant’s shares have fallen today amid weakness in the materials sector. This offset a positive update on its Hermosa project in Arizona, United States. That update revealed that the pre-feasibility study (PFS) for the Taylor Deposit demonstrates potential to establish Hermosa as a globally significant producer of metals critical to a low carbon future.

The post Why Beforepay, Firefinch, Kogan, and South32 shares are dropping appeared first on The Motley Fool Australia.

More reading

• Here’s why the Kogan (ASX:KGN) share price is being sold off today
• ASX 200 (ASX:XJO) midday update: Wesfarmers’ update, energy shares rise
• Why the Firefinch (ASX:FFX) share price started higher today
• These are the 10 most shorted ASX shares
• South32 (ASX:S32) share price lower despite ‘next generation mine’ update

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