IFL – Buy, Hold or Sell
Hi James & Team, What is your current view on IFL? It has run pretty hard since the 'No Dividend' announcement in late August this year. Trading up from $2.20 to current levels of $3.20. Thanks Jeremy
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Answer
Hi Jeremy,
While IFL has indeed run hard, with the MLC integration completed over Easter moves in the share price are now likely to be dominated by FUM. This month saw IFL hit $10 billion in FUM after it added 11 model portfolios to its Expand Extra wrap platform from Betashares and Drummond Capital Partners.
- IFL was raised to overweight with a PT of $4.15 by Barrenjoey this week, around 25% above current levels.
- Other brokers have a mixed opinion on IFL with 1 Sell, 4 Hold, 3 Buy and 1 Strong Buy.
The expansion by IFL into SMA’s sees the firm offer a more diverse investment offering to meet licensee, adviser and client needs which in our opinion justifies the price appreciation.
- We like IFL into dips towards $3.
