CGF was an investor favourite just a few years ago but its more than halved from its 2018 high leaving many frustrated shareholders in its wake. The retirement income & investment company appointed a new CEO this month which appears to have been comfortably digested by the market without a hiccup. The stocks recovered from a disappointing 3rd quarter trading update in April after enjoying global retirement services business taking a 15% stake in the company, its underperformance since 2018 may have made it a takeover target in MM’s view.
The annuity business delivered a better result in August but not one to get MM particularly excited at this stage.
MM is neutral to bullish CGF
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