Lloyd Fonds

DB: L1OA

€42.4m market cap

€3.66 last close

JDC Group is a financial services group providing advice and financial services, both directly to end-customers and via independent intermediaries. It operates one of the largest broker pools in Germany. The strategy is to focus on digital advice and administration capabilities to drive organic growth and position the group as market consolidator.

Investment summary

Lloyd Fonds (LF) took the first major steps in its transition to an active asset manager by acquiring Lange Assets & Consulting and SPSW Capital announced in H119. Both transactions should be completed in H219, contributing €350m and €650m to LF’s assets under management (AUM), respectively. This would help LF meet its guidance of €1.0bn AUM in two core business segments by end 2019. As part of the deals, LF will acquire tenured fund managers to hold executive positions at LF. Distribution of units in the first four funds under the new business model started in April, with proceeds collected up to mid-September at €60m.

Share price graph
Price performance
%
1m
3m
12m
Actual (25.6) (28.9) (30.9)
Relative* (3.6) (4.3) (20.6)
52-week high/low €5.8/€2.4
*% relative to local index
Key management
Hendrik Duncker Corporate Communications