News

Below is a selection of recent news from Capital Access Group.

    Publications

  • 11 December 2017

    Hot Off The Wires - 11th December 2017

    The first Bitcoin futures launched over the weekend, opening yet another chapter in the cryptocurrency's erratic rise. This morning Bitcoin is already up more than 10% at around $16,700, while the futures contracts at CBOE Global Markets rocketed to above $18,000.

    Press Releases & Blogs

  • 27 November 2017

    RESULTS: Intercede - Interim Results - 27th November 2017

    Intercede has released its Interim Results for the six months ended 30 September 2017.

  • 14 November 2017

    REPORT: Q3 Investor Survey MiFID II, Corporate Access & the "Broker Exemption"

    Over the last 9 months, Capital Access Group has conducted a series of surveys and interviews with the aim of understanding the implications of the new rules and the attitudes of those affected by MiFID II; companies, investors and brokers. This, our third report this year, focuses on the issue of corporate access under MiFID II.

  • 14 November 2017

    Press Release: Questions companies should ask about MiFID II

    Capital Access Group (CAG), the UK’s leading provider of corporate access to UK companies, today publishes its Q3 Investor Survey and poses questions all companies should ask about the status of their investor meetings under MiFID II.

  • 14 November 2017

    Blog: The "Broker Exemption": An Inconvenient Question

    Our research today reveals that over 90.0% of fund managers are not prepared to pay for broker meetings with companies While 75.0% of those fund managers who are prepared to pay for broker-sponsored meetings are only willing to spend £250 or less for them.

  • 31 October 2017

    Broker Exemption: Deal or No Deal?

    The FCA’s announcement (26th October 2017) that “unconnected” analysts must be able to have access to companies seeking to list on the LSE goes straight to the heart of the current debate around research and corporate access under MiFID II. Specifically, the issue of what constitutes a material or a minor, non-monetary benefit to the fund manager.

  • 23 October 2017

    Blog: A Supplementary Question

    Amidst the wealth of unknowns surrounding MiFID II there is a lack of comment around corporate access; the provision of company meetings with fund managers by regulated firms.

  • 12 October 2017

    Blog: 82 Days

    There are almost as many (few?) days to Christmas as there are to MiFID II. Both encourage an air of expectancy among the young but a sense of impending penury for those who have been around the block a few times.

  • 11 October 2017

    Blog: Gordon Dadds Group – Legal Ease

    Today Capital Access Group (CAG) publishes investment commentary on its latest client, Gordon Dadds Group (GOR.L). The company listed on AIM in July 2017, raising £18.8m at 140p. The funds were used to acquire Gordon Dadds LLP, a full-service law firm, which forms the basis of the listed entity.

  • 04 October 2017

    Blog: MiFID II and research - "If a tree falls..."

    You know that you are tapping into a zeitgeist when your views appear in two major newspapers in the space of three days. Following the coverage we received for our report on MiFID II in CityAM on 2nd October, The Times today has also reported our views in a larger article covering Fidelity’s announcement of its new pricing structure.

  • 02 October 2017

    REPORT: MiFID II - Equity Research & Corporate Access - "More or Less?"

    Our full report on MiFID II and how we expect it to affect Equity Research & Corporate Access.

  • 02 October 2017

    PRESS RELEASE: CAG estimates that UK Investment Research will fall by two thirds by 2021

    UK companies increasingly concerned about MiFID II and market communications Half of all current analysts not “paid” through commission on equity trade Less than 450 analysts providing research to fund managers by 2021 Brokers may not be able to provide companies with new investor meetings

  • 02 October 2017

    Blog: MiFID II, Investment Research & Corporate Access "More or Less?"

    There is a growing sense from some market commentators that MiFID II, while superficially significant, will not change the market fundamentally as banks and brokers adapt to the new regulations quickly. Respectfully, Capital Access Group (CAG) disagrees and has published a report today which outlines the results of MiFID II discussions with over 300 market participants in the last three months together with analysis of trading data from Bloomberg.

  • 02 October 2017

    Blog: Unite Group - The Young Ones are Growing Up

    It is tempting, when asked to write a blog on a visit to a British University to recant tales of excess at “peak” freshers’ week (which now seems to last a fortnight). Tempting but inaccurate.

  • 15 September 2017

    Blog: Galliford Try - Hybrid Engine

    Peter Truscott and Graham Prothero (CEO and CFO respectively) presented the company’s recent final results and 2021 strategy to CAG’s sales force yesterday.

  • 04 September 2017

    BLOG: UK House Builders

    The coming week is a busy one for the UK house builders. We are due to hear from Redrow, Barratt, Berkeley, McCarthy & Stone and Bovis. All of these announcements have a relevance to Persimmon to a greater or lesser extent.

  • 31 July 2017

    Star research analysts to be hawked for $5,000 an hour

    Fund managers, banks and brokers tussle over true value of research ahead of MiFID II, with views from our very own, Scott Fulton.

  • 21 June 2017

    BLOG: TIME SPENT IN RECONNAISSANCE IS NEVER WASTED

    Equity capital markets are based on communication; from corporate issuers to investors and back again. To date, in the UK, generating market intelligence has been dominated by brokers and banks. However, we sense that fund managers are increasingly fed up with the steady stream of feedback requests. They may be becoming more selective in what information they provide and to whom.

  • 06 June 2017

    Blog: CAG Corporate Governance Dinner – Changing Basis

    It seems that UK corporate behaviour has been under one microscope or another for decades. However, from the days of reacting to Polly Peck (Cadbury Report 1992) and Enron (The Smith Report 2003), more recent developments have been proactive, reflecting a growing realisation that corporate governance is a driver of corporate performance.

  • 11 May 2017

    Blog: More MiFID Answers about Corporate Access

    MiFID II will be in force within months. Amongst other effects, this Directive will radically alter the regulatory regime for the provision of both Access and Research.

  • 28 March 2017

    Blog: “Masterly Advice”

    When Alex Masterly (from The Alex Cartoon) comments on MiFID II it is clear that debate regarding the impending regulations has moved from the academic to reality. In a recent strip, Alex Masterly approaches his compliance officer highlighting that none of the bank’s clients have agreed to pay for its investment research. As ever, Alex views this as a positive; “If they don’t think our research is worth anything then it can’t be a bribe can it? So we can scrap all this MiFID nonsense.” Understandably, the compliance officer is not be swayed by this logic.

  • 28 March 2017

    2017 Corporate Governance Survey

    How a company is governed is becoming as important as its financial performance in terms of investor assessment. Recognising this trend, Capital Access Group is pleased to bring you a study into investors’ views on corporate governance performance. The report, critically, examines what investors expect to hear from companies when considering an investment

  • 01 March 2017

    Blog: Galliford Try – Future Proof

    From an equity capital market perspective, there was a lot riding on The Housing White Paper produced by the Department of Communities and Local Government (DCLG) on 7th February 2017. It was expected to offer a panacea for the “UK housing crisis”; unlocking a swathe of new home development without compromising the Green Belt, current house prices and Government finances. Unsurprisingly, given the weight of expectation, the White Paper did not please all parties.

  • 16 February 2017

    Blog: Hearts and Minds: Grainger and PRS

    When the economic history of the UK in the early 21st Century is written, the evolution of the housing market is likely to play a significant role. Home ownership was the dominant feature of the market in the latter half of the last Century. The “Right to Buy” programme, mortgage deregulation and regular bouts of real house price inflation (HPI) combined to make a UK house more than just a home. In a very real sense, your house was and is a critical component of your net worth.

  • 07 February 2017

    Blog: Redefining the Cycle

    “May we live in interesting times” is typically described as “the Chinese Curse”, referring to the uncertainty of such a period. However, the Mandarin character for “Crisis” bears the meaning of opportunity. While we live in undoubtedly “interesting times” following the votes for Brexit and The Trump Presidency and may well face undetermined “crises”, Redefine’s Capital Markets Day highlighted how the company is committed to ensuring that it is well placed for any uncertainty and seeks to take advantage of any opportunities which current markets provide.

  • 06 February 2017

    Press Release: Capital Access Group Q1 2017 Investor Perceptions Study

    Capital Access Group (“CAG”), the UK’s leading provider of investor access for listed companies, today publishes the results of the first in a series of quarterly investor perception study.

  • 06 February 2017

    Blog: CAG Investor Perception Study Q1 2017

    The CAG Investor Perception Study is now available. If you would like to receive a copy please contact Ian Barbour, Business Development, on 020 3763 3431 or at ian.barbour@captialaccessgroup.co.uk.

  • 11 January 2017

    Blog: The Capital Access Group Investor Survey

    We are now less than 12 months away from the imposition of MiFID II on the 1st January 2018 and there can be few regulatory changes which have generated as much debate whilst providing so few conclusions. CAG has launched a survey of investor opinion. In the first of a quarterly series of polls, we have asked our investment audience whether they pay for corporate access currently and, critically, whether they expect to pay after MiFID II. We are conducting this survey in conjunction with The Times.

  • 13 December 2016

    Blog: Is the UK's PRS growing up?

    Had Napoleon Bonaparte viewed the United Kingdom today, I doubt that his dismissal of our national character would be any less harsh than it was in the Nineteenth Century. However, while we were truly a “Nation of Shop Keepers” then, we are now more likely to be characterised as a “Nation of Landlords”.

  • 08 December 2016

    Blog: A Quiet Revolution

    It is often said that it is the quiet ones that you have to watch. This is never truer than in the case of revolutions. Such may be the case with Housing Associations.

  • 01 December 2016

    Blog: Remember, remember the month of Movember

    The men of Capital Access Group threw their support behind the Movember campaign.

  • 24 November 2016

    Blog: Zweites Finanzmarktnovellierungsgesetz - Soft Brexit Looks eminently achievable for UK Financial Services Companies

  • 08 November 2016

    Blog: Halifax House Price Index: Continued Momentum

    Halifax has produced its House Price Index (HPI) for October 2016

  • 04 November 2016

    Blog: UK Housing; from demand to supply

    As if to reinforce the “Rumsfeldian” nature of post-Brexit economic debate (“unknown unknowns”), the Bank of England’s latest Monetary Policy Committee (MPC) report has pointed to a sharp rise in UK inflation but an increased level of economic activity in 2017.

  • 02 November 2016

    Blog: Irish "housing" eyes are smiling

    While it has produced more than its fair share of builders, Ireland’s recent history of residential development is somewhat less impressive.

  • 02 November 2016

    Scott Fulton Joins Capital Access Group

    Capital Access Group has recruited Scott Fulton as head of its Financial PR operations.

  • 29 September 2016

    Blog: MIFID II (3rd Consultation) - Change is inevitable

    The FCA has today published its third consultation paper on MIFID II which is due to be implemented on 3rd January 2018.

  • 26 September 2016

    Blog: Brexit Watch - A broad-based rally with just a few unexplained losers

    In the three months since the UK voted to leave the European Union, equity markets have been surprisingly strong...

  • 08 September 2016

    Blog: How to Play Mobile Tech - Moon-shot or Shovel?

    Ever since the first Californian gold rush, shrewder types have observed that the way to wealth is not necessarily finding gold. Gold mining has the return distribution of a “moonshot” – high upside but low probability. Whilst more speculative types are on their knees prospecting for nuggets, the higher probability way to make a fortune in a gold rush is by selling shovels and other services to the gold mining hopefuls...

  • 01 July 2016

    Blog: BREXIT - Well, we all got that slightly wrong...

    Along with everyone else, we were mildly surprised to wake up on the morning after the referendum to find that the UK had voted to leave the EU

  • 19 May 2016

    Blog: Investment Trusts Seminar - A Short Summary

    Capital Access hosted an investor seminar on the Investment Trust sector. Managers from six closed-end funds (Jupiter US Smaller Companies, Baronsmead VCT, Pantheon International, Apax Global Alpha & Highbridge Multi-Strategy Fund) presented on their strategies, followed by our keynote speaker, Gervais Williams, and a Q&A panel.

  • 09 May 2016

    Blog: Capital Access Group "Brexit Debate" - We will stay in, but it will be close

    We will stay in, but it will be close.

  • 21 April 2016

    EU Referendum Discussion - Monday, 9th May

    Capital Access is hosting an EU Referendum breakfast discussion on Monday, 9th May at 8.30am. The discussion will focus on the economic implications of the referendum from both sides.

  • 11 April 2016

    Blog: What Investors Want from Companies

    Have you ever wished as a quoted company that investors would tell you what they “really, really want”? Well, the Investment Association has just published an Action Plan for the investor community.

  • 08 April 2016

    Blog: Cameron finds a socially useful way to avoid tax

    Passive fund managers seem to be winning the argument versus higher charging active fund managers. ETFs took in a record $372bn of net new assets last year, and the industry now controls nearly $3tn of assets. As more money flows into passive funds, it is worth thinking about some of the possible negative consequences.

  • 05 April 2016

    Blog: Woodford breaks ranks on the cost of research

    Not for the first time, Neil Woodford has broken ranks with the rest of the fund management industry. He has announced that his funds will change the way it pays for research. From this April the fund manager will now pay for research directly. Previously, in line with industry practice, fund managers customers paid for research, and it was hard for those customers to know if they were getting value for money.

  • 01 April 2016

    Extel 2016 Survey Voting Now Open

    The Extel 2016 survey is now open for voting - running through to 29 April. If you value our service, we would appreciate your vote. Capital Access is listed in the ‘Non-Deal Roadshows’ category under ‘Company & Expert Meetings’.

  • 23 March 2016

    BLOG: BANKING'S NEW STORM

    In a relatively benign credit environment post financial crisis (bad debts are down 90% since 2010) revenue at universal banks has shrunk by a third 2010 v 2015. In contrast at the FY results, banks without legacy issues like Shawbrook and Aldermore are growing revenue at double digit rates. Once the new new entrants (with names like Mondo, Civilised, Atom, Tandem and Starling) really hit their stride, there will be many more banks competing in a shrinking revenue pool.

  • 17 March 2016

    BLOG: SAVVY XAVIER

    Well done Xavier Rolet! The deal that London Stock Exchange Group Plc's CEO has negotiated with Deutsche Boerse AG is remarkable. It offers significant benefits. It may also be Europe's last chance to create a credible rival to the huge market operators in the United States.

  • 10 March 2016

    BLOG: SPOTLIGHT ON DATA SCIENCE INITIATIVES IN CONSUMER BEHAVIOUR RESEARCH

    Jaywing, the AIM listed data-led marketing services company last week announced a ground-breaking collaboration with the Data Science Institute (DSI) at Imperial College, London. Jaywing has entered into a three and a half year project intending to deliver a breakthrough in the understanding of cognitive behaviour in the advertising and marketing services industry.

  • 03 March 2016

    CAPITAL ACCESS APPOINTS SIMON BRICKLES AS CHAIR OF NEW ADVISORY GROUP

    Capital Access Group, the leading investor engagement adviser, is pleased to announce the appointment of Simon Brickles to chair its newly-established Advisory Group.

  • 17 February 2016

    BLOG: IS MARKETPLACE LENDING GOING MAINSTREAM?

    A new report published by Nesta and Cambridge University suggests that P2P lending is becoming more institutionalised. An article in the FT this morning (17 Feb 2016) “Banks behind a quarter of loans on peer-to-peer websites” wrongly attributes this to banks.

  • 12 January 2016

    BRUCE PACKARD JOINS THE CAPITAL ACCESS TEAM

    Capital Access Group, the leading investor engagement adviser, is pleased to announce that Bruce Packard CFA has joined its Investor Analytics team.

  • 11 January 2016

    BLOG: UK FUND REDEMPTION ANALYSIS - DECEMBER 2015

    The downward trend of outflows from UK equities that we saw in October 2015, as measured by Index funds, has now reversed. This trend is also mirrored among active mandates.

  • 06 January 2016

    Capital Access Group appointed by Avation and Eco Animal Health

    Capital Access Group is pleased to announce that it has been appointed by two new clients.

  • 24 November 2015

    BLOG: WPIC REPORT CLAIMS THAT GLOBAL PLATINUM DEMAND COULD RISE POST VW SCANDAL

    It has been a tough year for everyone operating in the platinum market. The spot price has fallen by 14.2% to $855/oz which is its lowest point since November 2008 when it reached $852/ oz and compares with the all time high in March 2008 of $2,066/ oz.

  • 20 November 2015

    BLOG: WHO OWNS UK EQUITY?

    The recently published ONS report on the ownership of UK shares underlined the continuation of some embedded long-term trends. Ownership of UK-quoted equity by UK institutions and individuals continues to fall in favour of overseas headquartered investors.

  • 19 November 2015

    LAUNCH OF CAPITAL ACCESS INSIGHT – INVESTOR PERCEPTION STUDIES

    Capital Access Group, the leading investor engagement adviser, has launched ‘Capital Access Insight’. This will offer listed companies a unique approach to investor perception studies.

  • 10 November 2015

    BLOG: LONG-TERM PROSPECTS FOR HOUSEBUILDERS LOOK PROMISING

    Against the background of a strong Q3 trading update from Persimmon last week, there have been a few negative comments on the sustainability of the housing market recently. We could see little in Persimmon’s current position that supported this (margin improving, land bank strong, new land prices low, strong dividend growth, etc, etc.) but it is worth looking at the arguments for and against.

  • 09 November 2015

    BROKER PROFILE LAUNCHES NEW NAME AND REBRANDING AS CAPITAL ACCESS GROUP

    Broker Profile today announces that it has launched its new name and branding as Capital Access Group.

  • 15 October 2015

    CAPITAL ACCESS GROUP APPOINTED BY EXANE BNP PARIBAS

    Capital Access Group, the leading investor communications consultancy, has been appointed by Exane BNP Paribas to provide advice on its PR strategy.

  • 09 October 2015

    Broker Profile proud to sponsor AIM Award

    Broker Profile, part of the Capital Access Group, the leading investor engagement consultancy, is proud to have sponsored the International Company of the Year Award at the AIM Awards 2015, held last night.

  • 28 July 2015

    BROKER PROFILE ACQUIRED BY NEW MANAGEMENT TEAM

    Broker Profile, the specialist Investor Relations consultancy today announces that it has been acquired by Capital Access Group Limited. Capital Access was founded by Richard Feigen and Kevin Lapwood, until recently partners at Hub Capital Partners and, respectively, the ex-Managing Director and ex-Head of Research at stockbrokers, Seymour Pierce.

    Hot Off The Wires - 19th December 2016

  • 10 May 2017

    Hot Off The Wires - 10th May 2017

    The FTSE has opened up as markets are generally on edge after US President Donald Trump's shock dismissal of FBI director James Comey late last night. The move sent the dollar down, other European markets are forecast to open lower this morning

  • 27 April 2017

    Hot Off The Wires - 27th April 2017

    London shares have opened down after stock markets in Asia were broadly lower, with investors cautious following the Bank of Japan's policy statement. The Nikkei was down 0.4% despite a weaker yen. Elsewhere in the region, the Shanghai Composite Index was off 1%, while the Hang Seng fell 0.4% and Australia's S&P/ASX 200 was flat. Watch out for: Eurozone consumer confidence and business climate (April), ECB interest rate decision, German CPI (April) and US durable goods orders (March).

    Researches

  • 06 February 2017

    Capital Access Group & The Times: Investor Perception Survey

    Capital Access Group (“CAG”), the UK’s leading provider of investor access for listed companies, today publishes the results of the first in a series of quarterly investor perception study.

Hot Off the Wires Archive

  • 08 December 2017

    Hot Off The Wires - 8th December 2017

    Jean-Claude Juncker announced that “sufficient progress” had been made in the first phase of Brexit talks this morning, enabling the second phase of talks to start. Sterling has opened marginally higher against the Dollar and the Euro with UK equity markets also marginally higher.

  • 07 December 2017

    Hot Off The Wires - 7th December 2017

    Asian stocks were mixed with Hong Kong's Hang Seng Index and Japan's Nikkei making up some losses after dropping around 2% yesterday while South Korea's Kospi fell 0.36% and mainland China's Shanghai Composite slipped nearly 0.25%.

  • 06 December 2017

    Hot Off The Wires - 6th December 2017

    Asian stocks dipped after Wall Street's tech sector suffered another day of losses. Japan's Nikkei dropped 0.9% while MSCI's broadest index of Asia-Pacific shares outside Japan also fell 0.9% after the S&P 500 fell for the third straight session in the US.

  • 05 December 2017

    Hot Off The Wires - 5 December 2017

    European markets are expected to open relatively flat today as pressure ramps up on the UK and EU Brexit negotiating teams after the DUP yesterday rejected a potential agreement over the Irish border. Watch for today: UK services PMI, BRC-KPMG Retail Sales Monitor, CBI Growth Indicator Survey, SMMT car registration figures; EU finance ministers meet in Brussels; Theresa May meets Spanish PM in London; and Rex Tillerson attends EU and NATO meetings in Brussels.

  • 04 December 2017

    Hot Off The Wires - 4 December 2017

    UK markets have opened up today as Prime Minister Theresa May heads to Brussels for crunch Brexit talks. It comes ahead of a crucial European Council meeting later this month and as the Confederation of British Industry today warns the UK faces sluggish growth over the next couple of years despite the outlook brightening across the global economy - and the Eurozone in particular. Data to look out for includes: • 09:30 – UK construction PMI (November) • 10:00 – EU producer price index (October) • 15:00 – US factory orders (October)

  • 01 December 2017

    Hot Off The Wires - 1 December 2017

    UK markets up a touch following record highs overnight on the Dow Jones, whilst Asian markets were mixed. Investors will be watching out for Manufacturing PMI data from the UK, US and Eurozone

  • 30 November 2017

    Hot Off The Wires - 30th November 2017

    UK markets have opened down this morning with the FTSE 100 opening down 22 points at 7,371.43 and the FTSE 250 off 80 points at 19,980.79.

  • 29 November 2017

    Hot Off The Wires - 29th November 2017

    News emerged after the close of business yesterday that North Korea had fired another ballistic missile into waters off Japan, ending more than a two-month hiatus from military tests. European bourses are seen as opening mixed this morning over renewed concerns regarding the Pyongyang dictatorship. The missile test had surprisingly little effect on Asian markets, which were mixed in overnight trading. Most markets edged higher, reflecting a rally in US stocks on tax reform progress.

  • 28 November 2017

    Hot Off The Wires - 28th November 2017

    The FTSE 100 reshuffle will be decided today, as share prices are collected ahead of Friday's announcement on which companies will be heading up into the blue-chip index and which might be sliding down.

  • 27 November 2017

    Hot Off The Wires - 27th November 2017

    Markets this week will pay attention to figures on consumer credit, published by the Bank of England on Wednesday. Policymakers have expressed concern over the fast pace of growth in unsecured borrowing. Investors also will look out for the purchasing managers' index reading for manufacturing in November, due Friday, with economists forecasting a slight acceleration in activity on last month. Today, the UK government will launch its new industrial strategy.

  • 22 November 2017

    Hot Off The Wires - 22nd November 2017

    Chances are, you have heard it is Autumn Budget day, where Philip Hammond will set out his spending priorities for the coming years - and it could be the "most millennial yet".

  • 17 November 2017

    Hot Off The Wires - 17th November 2017

    UK markets have opened down this morning with the FTSE 100 off 0.12% at 7,378.22 and the FTSE 250 off 0.23% at 19,805.00.

  • 16 November 2017

    Hot Off The Wires - 16th November 2017

    European markets have seen mixed trading this morning, following stronger performance in Asia but declines in the US overnight. Markets will be looking out for UK retail sales figures today along with any commentary from Liam Fox's meeting with the head of the WTO in Geneva.

  • 15 November 2017

    Hot Off The Wires - 15th November 2017

    European stock markets are set to nose down this morning, following the lead of Asian and US counterparts as market-watchers warned a "correction" may be on the horizon. Data • 07:45 – French inflation (October) • 09:30 – UK earnings (September) • 10:00 – Eurozone trade balance (September) • 13:30 – US retail sales and inflation figures (October)

  • 14 November 2017

    Hot Off The Wires - 14th November 2017

    Capital Access Group today releases the results of its Q3 Survey and poses questions all companies should ask about the status of their investor meetings under MiFID II.

  • 13 November 2017

    Hot Off The Wires - 13th November 2017

    On Friday, US Senate Republicans unveiled a plan that could lead to many middle class Americans facing a hike in their tax bill. The head of the House of Representatives tax-writing committee has opposed the proposals, prompting fears of an impasse.