LAFDI market report - Friday 27th November

By Rupert Taylor on Friday 27 November 2015

Alternative Lending

In the same vein as the previous week LAFDI constituents experienced sharply divergent fortunes this week.  This time however the LAFDI achieved a small outperformance versus the wider market.     

Weekly return



MSCI World


Top 5 performing Stocks in last week


CACC US Equity



GLIF LN Equity



OFX AU Equity



NNI US Equity



RM US Equity


Worst 5 performing Stocks in last week


TUNG LN Equity



PAG LN Equity



PAY LN Equity



EPO LN Equity



IPF LN Equity



* Returns are calculated for the week to local market close on Thursday.

Credit Acceptance Corp made a welcome return to form bouncing aggressively on no obvious news catalyst.  The shares have had a rough ride since making new highs in the high $270’s earlier in the summer.  However, now nudging $200, after making 12m lows in the $160’s, the shares look to be resuming their uptrend.

GLI Finance Ltd managed to bounce strongly after the pounding the shares took post their trading update last week.  The shares enjoyed the benefit of a ‘buy’ rating being reaffirmed by analysts at Panmure Gordon. 

OzForex Group Ltd continued to rally as the share price closes in on the implied terms of the offer received from Western Union.  The shares closed above A$3.5 on Thursday 25th versus the cash offer price of between A$3.50 and A$3.70 per share.  The market seems to increasingly see this as a done deal and the LAFDI would be delighted to see a 4th company acquired from the index in the past 12 months. 

At the other end of the spectrum Paragon Group PLC struggled.  After impressive results, including a 22% rise in the dividend, the shares endured a soft week.  The companies exposure to the buy-to-let segment of the UK housing market has become cause for concern after UK Chancellor George Osbourne revealed a further tax raid on landlords with his Autumn budget statement. 

Note that Yodlee’s shares have ceased trading post acquisition and the index has been rebalanced as of 20/11/2015.

Please note – The LAFDI is now available on Bloomberg.  Tickers:

LAFDITR GO for the Total Return Index

LAFDIPR GO for the Price Return Index

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Companies in this Article:

Envestnet | Yodlee

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