Yeah, that’s been a good deal and it supports the fund’s strong return level.
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CapMan’s Frimodig is coming to ROAST!
Audience questions are welcome.
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How are Capman’s investment team members incentivized to create added value in companies? How are employees taken care of and committed to Capman?
As I understand it, the success of a company like Capman correlates particularly strongly with its top talent’s well-being and commitment to the company.
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Thanks to Verppu and Jokke for the informative and clear interview! CapMan is a nice one to own. Clear strategy, favorable industry, and a convincing CEO.
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Verneri asked Joku in Roast , “Name one competitor who does things better than Capman, and from whom you could learn?” The answer was EQT - from Sweden. EQT is amusingly just listing on the other side of the Baltic Sea.
https://twitter.com/zijoittaja/status/1172391761852821504
And demand seemed to be quite strong, even though only about 20% of the shares were issued.
https://twitter.com/zijoittaja/status/1172507559263121408
CapMan’s stock price has risen well 
, and I’m a little sad that I don’t own it yet. Maybe I could grab some in the next correction 
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I have quite a bit of CapMan and they’ve done quite well. Of course, the position of a shareholder compared to a fund investor is semi-tame. CapMan is primarily a service provider for financial circles; for a small investor who is a shareholder, they give crumbs.
It’s a shame that as a Finn, I couldn’t participate in the EQT offering. It would have been a suitable addition to the portfolio alongside Capman. Well, I’m looking forward to next week and the start of trading.
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Distribution partnership with Nordea:
“In the future, we may expand the product portfolio offered through partners also to other product categories,” says Joakim Frimodig, CapMan’s CEO.”
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This is good news, an expansion of the distribution channel, especially for Capman, something positive.
From CapMan’s perspective, this is a rather interesting opening. One shouldn’t have high expectations for being involved with Rahastotori itself, as historically the impact of these distribution platforms on Helsinki’s financial companies has remained very modest (e.g., UB/Nordea, Taaleri/Nordnet etc.). The fact is that in this sector, products are still primarily sold face-to-face with a salesperson.
Based on the announcement, the fund will also be included in Nordea’s wealth management selection, the potential of which, in my estimation, is clearly greater than the passive Rahastotori. This could genuinely impact the fund’s sales volumes. It will be interesting to see how that develops. So far, sales of the NPI fund have been weaker than expected, and its size is clearly below what the company expected about 2 years ago (~70m vs. 200m).
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I’ve had my eye on Capman for a while now, so with the earnings report coming up, I’m wondering if I still have time to jump on board. Similarly, EQT is still at the same price level as when trading started at the end of September, and based solely on Frimodig’s words, that company would be interesting. Has anyone here jumped on the EQT bandwagon?
There’s still plenty of time to jump into Capman. It rose above €1.8 in August and has stayed between €1.90 and €1.95 for the past month. Quite a calm ride.
EQT is interesting, but I haven’t had time to look into it more closely.
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Capman is really developing nicely. I bought it for the dividend, and it’s up almost 28% in about a year. How much further will it develop if the share of asset management business grows?
Let’s just hope Taaleri can get its results on the same track. Based on the realized results, I’m thinking that the weightings of Taaleri and Capman in my portfolio were upside down when I bought them. Between them, Capman 40% and Taaleri 60%.
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As a “funny” curiosity, the ROAST went really well, but Joakim almost slipped that Russia is being reconsidered when I asked about the future of the Russian staff. Now, in the Q3 report:
“Due to the continued challenging fundraising market in Russia, we are currently conducting an investigation to explore strategic alternatives for our Russia investment area.”
Congratulations to everyone on board, this train is progressing very well!
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Yeah, I noticed the same 
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@Elina_A thanks again for encouraging me to jump on this ship. I opened the position just in time before the earnings report this week and added more in the afternoon today after the biggest hype subsided.
Then, there’s nothing left but to wait and see how the development continues from here. For example, having learned from Revenio, it’s more pleasant to follow the development from the deck of the ship than to forever keep an eye on the right price level from a nearby lifeboat to jump aboard 
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Just had time to watch the Inderes “dividend machine gathers momentum” video.
Indeed, especially the last minute or so of the video is quite pleasant to listen to as an owner, when “looking at the big picture” and the CEO explains to Sauli his view on how he wants Capman’s earnings level to be completely different in 3-5 years.
A nice anchor in the portfolio with Remedy and Harvia
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You’re welcome 
Glad to hear it went so smoothly and that the ‘reward’ came from CapMan so immediately. This guessing game is not that easy-peasy, especially when it comes to what’s coming and how the market will react to it.
I once owned CapMan when it was a completely different company. Back then, it felt like all the good things flowed into various costs and bonuses, and nothing was left for the owners. Since then, the company has renewed itself, and with the current management, I have a feeling that they know what they are doing. And not just a feeling, but the results have also been in line.
My horse among these investment companies has been eQ, which has been performing really well for a long time. I’ve had it since Amanda’s days. Now I’ve added CapMan as a companion and am eagerly awaiting what M&A scenarios might be coming. I believe there’s still a lot happening in this sector.
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Yeah, Sauli, the man, threw out a reduce recommendation. But I guess the company will continue to do well anyway.
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Right. This was foreseeable. Judging by the texts, it would actually be a ‘hold’ if Inderes had a hold recommendation, but they don’t. It’s worth reading the report. But the market reacts to these recommendation changes. Let’s see if we can get Capman a bit cheaper after this.
In my opinion, this was done quite quickly. Many other recommendations are ‘add’, and yet they are well over their target valuation.
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