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Tag Archives: TAM:LN

Titanium Asset Management…What A Steal?!

01 Tuesday Oct 2013

Posted by Wexboy in Uncategorized

≈ 7 Comments

Tags

appraisal rights, asset managers, AUM, Bob Brooks, Clal Finance, Delaware law, fixed income, TAM, TAM:LN, Titanium Asset Management

My asset manager addiction knows no bounds – here’s another I own:

Titanium Asset Management (TAM:LN)

Titanium was a SPAC IPO that raised $120 million (20 mio shares at $6.00) in Jun-2007. Aah, remember the glory days..!? The investment objective was to purchase a number of asset managers – and in little more than a year, facing into the worst financial crisis since the ’30s, they acquired four companies: Wood Asset Management, Boyd Watterson, Sovereign Holdings (since absorbed into Boyd), and National Investment Services. Well…I think you can guess the rest!

Actually, I’ve never really sat down & figured out if they overpaid, experienced a client/AUM exodus, suffered integration issues, lost key personnel, etc. Maybe it was all these & more! But if we fast-forward, the legacy of those acquisitions lives on – here’s a brief summary of the last five years:

TAM 5 Year

Ewww, kinda nasty…

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