Markets

Blue Sky has slashed the value of its fee-earning assets under management

A review of the Blue Sky business and balance sheet is substantially completed. Initial $3.8 million of cost cuts implemented. Estimated $59.4 million negative impact on full year net profit after tax. Fee earning assets under management revised down to $3.4 billion. Blue Sky’s major review of the business has […]
Blue Sky has slashed the value of its fee-earning assets under management
Markets

Blue Sky has gone into a trading halt

Blue Sky has gone into a trading halt as it prepares to announce the results of a review of the value of its assets. “The trading halt is requested pending an announcement to be made in respect of the outcome of the review of the company’s business and balance sheet,” […]
Blue Sky has gone into a trading halt
Markets

Blue Sky has slashed its profit guidance and the stock is tumbling again

Blue Sky has downgraded its full year underlying profit guidance to $20 million to $25 million from $34 million to $36 million The company says recent negative market sentiment is likely to constrain its ability to make new investments. The funds manager also announced an independent review of business processes […]
Blue Sky has slashed its profit guidance and the stock is tumbling again
Markets

Glaucus Research says Blue Sky’s response is ‘woefully inadequate’

Glaucus Research says Blue Sky’s response to its research note is “woefully inadequate.” Blue Sky referred the Glaucus note to ASIC, saying it could be a case of market manipulation. Blue Sky shares were down 4.1% to $8.12. Four weeks ago they were at $12.80. Short-seller Glaucus says Blue Sky’s […]
Glaucus Research says Blue Sky’s response is ‘woefully inadequate’
Markets

Asset manager Blue Sky is back on the market and the stock is getting battered

Shares in Blue Sky Alternative Investments tanked when the company resumed trading after responding to allegations by Glaucus Research. At at an analyst call this morning, the funds manager raised the issue of “market manipulation”. It says: “Blue Sky’s performance and management fees are entirely consistent with market practice in […]
Asset manager Blue Sky is back on the market and the stock is getting battered
Markets

The key allegations by Glaucus Research that Blue Sky needs to answer

Glaucus Research says Blue Sky charges management fees as high as 17% And the market capitalisation of Blue Sky is overvalued by about 77%. Blue Sky allegedly “unjustly” inflates its reported fee earning AUM. Blue Sky shares are under voluntary suspension while the ASX reviews the fund manager’s proposed response […]
The key allegations by Glaucus Research that Blue Sky needs to answer