Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

AA-rated Cholwill ups Brewin stake

AA-rated Cholwill ups Brewin stake

Citywire AA-rated equity income veteran Martin Cholwill has upped his stake in Brewin Dolphin as its shares continue to slide from the record high they hit in April.

Cholwill increased his exposure to the business from 16.49 million to 16.50 million or a fraction over 6% worth £4753 million at a share price of 288p, down more than 23% a peak of 353p.

The shares, which at their current valuation offer a dividend yield of 3.4%, are held in his £1.40 billion Royal London Equity Income fund.

Both Canaccord Genuity and Liberum both recently confirmed buy ratings on the stock with price targets of 320p and 379p respectively.

Sentiment toward the company turned decisively earlier this year after the company was forced to abandon a long-running and complex IT integration project.

In a recent update the company reported a 5% increase in core quarterly income, lower than its previous guidance, but added that its organic fund growth continued as expected.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Martin Cholwill
Martin Cholwill
6/81 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 32.43%
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter