OVH - OneVue Holdings

[System]

OneVue is an Australian company that provides an extensive range of services to businesses in the fast growing wealth management industry with a focus on the superannuation and investment management sectors.

OneVue has two operating divisions: Fund Services and Platform Services. Fund Services provides outsourced unit registry and installed software to investment managers, custodians and trustees. Platform Services provides an investment platform to accountants, financial advisers and organisations with self-directed investors. OneVue's platform provides investment administration, tax and reporting services, across a broad range of assets via third parties to end investors. These third parties typically apply their own branding to the platform. The end investor can either be advised by an accountant or financial adviser, or self-directed using a digital portal.

OneVue also offers a retail superannuation fund and specialist SMSF compliance and administration services. As a consequence of this blend of services, the Company has a unique operating model it believes is scalable and allows for significant cross-sell and upsell revenue opportunities.

http://www.onevue.com.au

 

[chrisparton1991]

Hi all, first time poster here.

Today OVH announced an asset servicing deal with NAB that sounds like a big... deal (for lack of a better word). Are there any fellow OVH shareholders following this news? I'm curious to hear what others are thinking.

Cheers,
Chris

Explicit disclosure: I'm an OVH shareholder.

 

[Klogg]

Hi all, first time poster here.

Today OVH announced an asset servicing deal with NAB that sounds like a big... deal (for lack of a better word). Are there any fellow OVH shareholders following this news? I'm curious to hear what others are thinking.

Cheers,
Chris

Explicit disclosure: I'm an OVH shareholder.

For what it's worth: NAB tried to sell their Asset servicing arm, which predominantly provides Custody and Registry services to a large portion of the Australian market (they have ~31% of this market from memory) - they failed at this, so they're looking to improve the business without significant capex.
Given the thin margins in Registry, they are looking at streamlining operations and removing bad business. However, a big selling point for Asset Servicing is their ability to provide both Registry and Custody.

As a result, they're looking to outsource their registry to someone - OVH. There's a large amount of work that goes through this department, and to be honest it could be run a whole lot better. Given OVH's economies of scale, it should improve margins on the same level of work, although I don't know OVH's financials well enough, especially with the Diversa merger.

 

[So_Cynical]

I bought a few OVH back in March @ 0.48 , been meaning to post about it, anyway hit 0.64 today and caught my attention, was over sold back in late Feb and March and now back to a reasonable valuation considering the sector (superannuation solutions) and work in hand, should start paying dividends soon.

 

[So_Cynical]

should start paying dividends soon.

Still waiting for a dividend - anyway Thorney opportunity's fund had an investment day yesterday with each of their major holdings getting an individual review, thought i would share..

THORNEY INVESTMENT FORUM – COMPANY PRESENTATIONS Please find attached a company presentation from OneVue Holdings Limited.

https://wcsecure.weblink.com.au/pdf/TOP/02105281.pdf

Edit: oh a special dividend on the way 0.0219 CPS.

 

[Trav.]

OVH had a good gap up on news 25/7 and looks set to tackle $0.50. Next resistance after that is $0.60 so will place OVH on the watchlist for next week and monitor a bit more closely.

 

[InstoPro]

Allot of crickets here ... perfect ... always best to be the only one in the room when first investing

I tipped OVH as #1 pick for FY20 in the Tipping Competition. So many reasons why which i outlined in the tipping thread.

 

[Knobby22]

Bad news for OVH, Sargon Capital has gone broke owing them money.

I did read this when thinking of buying, sale to them now being paid in installments.

This would in hindsight explain why the company appeared a little cheap.

 

[Dona Ferentes]

OneVue said it would preserve its legal rights over an outstanding $31m owed to it by Sargon from last year’s purchase of its Diversa Trustee business.

“It is important to emphasise that the OneVue business and its commitments to clients and growth is in no way dependent on the outcome of the Sargon receivable,” OneVue managing director Connie Mckeage said.

“The business is appropriately funded and has the balance sheet strength, cash-generating capabilities, cash on hand and debt facilities to support the growth and operating requirements of the business.

“All outstanding amounts for acquisitions were fully extinguished in January 2020, including the final payment to KPMG for the acquisition of their superannuation administration business.”

 

[barney]

This would in hindsight explain why the company appeared a little cheap.

The Chart has certainly not been happy for 6 months and long term support level at around 33 cents is now getting tested. Unfortunate for LT investors.

 

[Dona Ferentes]

Iress IRE has launched a takeover bid for Onevue Holdings at 40c per share. The offer values the company at $107m. The friendly deal sees Iress, a financial software business, gain access to OneVue’s wealth management software.

Iress will raise $170m to help fund the transaction, with Goldman Sachs underwriting a $150m placement at $10.42, a 7 per cent discount to its last closing share price.

The price is a 66.7 per cent premium to the wealth manager’s last closing share price of 24c.

- one way to ease the pain.

 

[System]

On November 10th, 2020, OneVue Holdings Limited (OVH) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between OVH and its shareholders in connection with the acquisition of all the issued capital in OVH by Iress Limited.

 

[So_Cynical]

For the record Iress ended up paying 43 CPS, OneVue not one of my better stock choices.