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Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd which is authorised and regulated by the Financial Conduct Authority.

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© 2016-17 Hardman & Co.

hardman Insights

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    ‘After the Love Has Gone’

    Jul 05, 2018    Author: Keith Hiscock, CEO

    After a while, we all get bored with the familiar, and our attention turns to the new and unfamiliar. The same is true of the capital markets; this month’s new issue soon fades into the background, and the attention of investment banks, brokers and investors moves onto the next thing.
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    Technology; Cloud, Data & Blockchain

    Jul 03, 2018    Author: Milan Radia

    The technology sector is in the midst of a period of immense change and progress. For a number of years, rapid innovation has been changing the way that we live, work and communicate. This brief commentary touches on a few areas: i) the migration of enterprise software to the Cloud; ii) the data explosion and the emergence of datacentric new technologies; iii) Blockchain, which has enormous potential as a system of record across many segments; and, iv) some perspectives on ongoing M&A in the technology sector.
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    Global Pharmaceuticals - 2017 Industry stats - April 2018

    Apr 11, 2018    Author: Hardman & Co Life Sciences Team

    During the last few weeks, most of the multi-national pharmaceutical companies have reported results for 2017, which has provided us with the opportunity to update our industry statistics and drug database. This report provides the first publication of global and US rankings of the top 15 drug companies for 2017. Comparisons are made with historic data to show how different company strategies have evolved. In addition, analysis has been provided for the evolution of therapeutic biopharmaceutical drugs, which saw sales rise 7% to $197bn, representing 24% of the market, and driven by growth in antibody-derived drugs.
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    ONS Survey underlines importance of the retail investor

    Jan 22, 2018    Author: Keith Hiscock, CEO

    The latest Office for National Statistics (ONS) survey, ‘Ownership of UK quoted shares: 2016’, shows that retail investors are more important than most company managements realise or most capital markets professionals admit. When it is also appreciated that the data shows that retail investors set the share price for most quoted companies, most days, it becomes clear that engaging with such an audience enhances a company’s standing, whilst ignoring them courts disaster.
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    Hardman Healthcare Index

    Jan 14, 2018    Author: Hardman Life Sciences Team

    The Hardman Healthcare Index has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. 2017 was another successful year for the index, rising 20.3% to 437.3, and outperforming the London Allshare index, which grew 9.0% to 4,221.8.
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    MiFID II Impact on research & stock market liquidity

    Jan 01, 2018    Author: Keith Hiscock, CEO

    The introduction of MIFID II in January 2018 is expected to have a major impact on research coverage by the brokerage and investment banking industry, and likely to result in severe reduction in the liquidity of shares in all but the very largest companies.
  • Homes for investors

    UK Residential REITs the start of a journey

    Nov 30, 2017    Author: Mike Foster

    Until 2016, the only meaningful way to invest in listed housing was Grainger Trust or specialist student funds. Since November 2016, with Civitas Social Housing floating its over subscribed REIT, £1,282m has been raised via four REITs. These REITs capture sustainable, growing income streams, supporting dividend yields of 5% or more, when floated.
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    AIM: A decade of achievement

    Nov 01, 2017    Author: Nigel Hawkins

    AIM, which was set up in 1995, continues to prosper despite serious concerns about its future following the financial crisis of 2008/09. In short, it is now in rude health.
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    Cashflow accounting: the need for consistency

    Sep 18, 2017    Author: Hardman & Co Life Sciences Team

    According to the US Securities and Exchange Commission, “Cashflow statements report a company’s inflows and outflows of cash”. This is such a simple and obvious statement. Unfortunately, the failure of accounting bodies around the world to adopt a consistent reporting method means that the derivation of operational cashflows, is anything but simple and consistent.
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    Aramco IPO

    Aug 01, 2017    Author: Steve Clapham

    An IPO of Saudi Aramco in late 2018 at a valuation of $2 trillion (tn) has been widely trailed in the Press. Although the recent appointment of the man behind the flotation, Mohammed bin Salman, as Crown Prince has increased the impetus for a float, we believe the Aramco IPO may not happen in 2018, if at all, for three main reasons: timing, the oil price, and valuation.
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    “Every revolution seems impossible at the beginning, and, after it happens, it was inevitable”

    Jul 01, 2017    Author: Keith Hiscock, CEO

    As we approach 3rd January 2018 and the coming into force of the MiFID II legislation which changes the landscape for research, we are beginning to see some of the practical implications and complications. Brokers are in the early stages of working out how to structure charging for research, asset managers have already begun cutting their brokers’ lists and a model code of conduct for Research Payment Accounts for institutions has been published.

Telephone : +44 (0)20 7194 7622

35 New Broad Street London EC2M 1NH

Disclaimer | Research Disclosures | Legal Notice | Terms & Conditions

Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd which is authorised and regulated by the Financial Conduct Authority.

This website uses cookies. By continuing to browse the website you are agreeing to our use of cookies. Find out more

© 2016-18 Hardman & Co.