RISKY as a Hedge Fund Management Group.

Heres what it does..

Absolute Capital Management Holdings Limited is a specialist fund management
company focused on delivering investment returns through the management of
absolute return funds in equities and fixed income products, since inception in
2004. The enlarged company now has offices in, the Cayman Islands, Switzerland,
the United Kingdom, Singapore, Spain, Cyprus, Poland, Brazil and Argentina Post
completion the group will manage 12 funds and have in excess of US$3.25 billion
under management. ACMH listed on AIM on 3rd March 2006.


Investment track record for the 11 funds managed by ACMH

ACM Funds AUM US$ million Annualised Performance Down Months Launch date
Absolute
Return Europe
Fund 490 15.82 2 out of 63 March 2002
Absolute
European
Catalyst Fund 273 20.29 4 out of 44 October 2003
Absolute
Germany Fund 381 22.00 2 out of 41 January 2004
Absolute East
West Fund 222 23.78 1 out of 23 July 2005
Absolute
Octane Fund 342 39.49 1 out of 23 July 2005
Absolute
Large 137 20.96 1 out of 16 February 2006
Cap Fund
Absolute
India 18 17.50 0 out of 11 July 2006
Fund
Absolute
Activist
Value 241 31.66 0 out of 11 July 2006
Fund
Argo Fund 484 17.77 3 out of 80 October 2000
Argo Global
Special
Situations
Fund 455 15.64 3 out of 34 August 2004
Argo Capital
Partners Fund 73 N/A


Note: Performance to 31 May 2007 and AUM as at 1July 2007

Recent Trading Performance

Absolute Capital Mgmt Holdings Ltd
09 July 2007


Absolute Capital Management Holdings Limited

('ACMH')


Trading Update



ACMH (AIM: ACMH), the fund management company focused on delivering investment
returns through the management of absolute return funds, today announces a
trading update for the six months ended 30 June 2007. ACMH will announce its
interim results on 26 July 2007.


The board is pleased to announce that the strong financial performance achieved
through 2006 has continued into 2007. For the six months ended 30 June 2007, the
board expects trading to be ahead of expectations and that turnover will be not
less than 58.0 million and profit after tax will be circa 30 million


As at 30 June 2007, assets under management stood at $3.1 billion.


The successful integration of Argo Capital Management, acquired in January 2007
added significant product diversification and revenue from debt/finance
opportunities in emerging markets. Today, we have also announced the creation of
a new division, Absolute Capital Management Property Limited ('ACMPL') in order to
develop our long/short equity presence in the global real estate market.


Sean Ewing, Chairman and Chief Executive Officer, said: 'We have increased
assets under management by almost 100% during the first six months of 2007
through significant organic growth and the successful integration of Argo .
Demand from institutional investors for our expanding portfolio of alternative
investment products remains strong and we believe the creation of ACMPL is
well-timed to take advantage of the long/short opportunities in the current
global real estate market. As we continue to execute our business strategy we
are well positioned to exploit the significant and growing demand from global
investors for consistent, low volatile absolute returns.'

Fundies

Forecasts

To 31/Dec 2007 EPS 57.9p P/E 9.1 PEG 0.1 EPS growth 65% Yield 7.1%

To 31/Dec 2008 EPS 71.4p P/E 7.4 PEG 0.3 EPS growth 23% Yield 8.4%

TA



Not for the faint hearted please DYOR.

Yeah , good job I bought a few early on :-)

Recent trading update.....

Absolute Capital Mgmt Holdings Ltd
09 July 2007






Absolute Capital Management Holdings Limited

('ACMH')


Trading Update



ACMH (AIM: ACMH), the fund management company focused on delivering investment
returns through the management of absolute return funds, today announces a
trading update for the six months ended 30 June 2007. ACMH will announce its
interim results on 26 July 2007.


The board is pleased to announce that the strong financial performance achieved
through 2006 has continued into 2007. For the six months ended 30 June 2007, the
board expects trading to be ahead of expectations and that turnover will be not
less than 58.0 million and profit after tax will be circa 30 million


As at 30 June 2007, assets under management stood at $3.1 billion.


The successful integration of Argo Capital Management, acquired in January 2007
added significant product diversification and revenue from debt/finance
opportunities in emerging markets. Today, we have also announced the creation of
a new division, Absolute Capital Management Property Limited ('ACMPL') in order to
develop our long/short equity presence in the global real estate market.


Sean Ewing, Chairman and Chief Executive Officer, said: 'We have increased
assets under management by almost 100% during the first six months of 2007
through significant organic growth and the successful integration of Argo .
Demand from institutional investors for our expanding portfolio of alternative
investment products remains strong and we believe the creation of ACMPL is
well-timed to take advantage of the long/short opportunities in the current
global real estate market. As we continue to execute our business strategy we
are well positioned to exploit the significant and growing demand from global
investors for consistent, low volatile absolute returns.'


Enquiries:


Absolute Capital Management Holdings Limited
Sean Ewing, Chairman and CEO T: +34 971 406018


Panmure Gordon
Dominic Morley T: +44 (0)20 7614 8388


Cardew Group
Tim Robertson T: +44 (0)20 7930 0777
Shan Shan Willenbrock
David Roach

Recent tip.....




http://news.independent.co.uk/business/comment/article2750529.ece

Absolute Capital Management

Our view: Buy

Current price: 529p

Until recently hedge funds shied away from listing on the public markets; if your reputation is built on secrecy, opaqueness and servicing only the super-rich, it paid to stay away from prying eyes.

But Absolute Capital Management has been public for a while and its share price is up nearly 300 per cent since listing in March last year. At the very least, yesterday's trading update justified the surge in its share price. The company now has more than $3.1bn of assets under management, more than double the amount it was managing just six months ago.

It runs its suite of 12 funds on a absolute returns basis - meaning that its funds are not benchmarked against any index. Absolute returns mean that the manager seeks to make a positive real-term return regardless of the volatility in debt or equity markets.

The company also confirmed the creation of a new division, Absolute Capital Property, and the acquisition of 100m of new assets for 12.5m, previously run by another AIM-listed fund manager, North Asset Management. The deal, although relatively minor in terms of numbers, should give ACM a decent foot in the door to the lucrative real-estate hedge fund arena.

Importantly, ACM's staff owns 34 per cent of the stock.

In spite of its strong recent rally, investors in favour of the bigger names in the industry have largely overlooked ACM. But continue to ignore ACM at your peril - the shares trade on a significant discount to their peers and, according to house broker Panmure Gordon, a 700p share price implies just 10.4 times forecast 2007 earnings. Buy.

Also a main tip in January's Quantum Leap GF.

Yep Jimmy it just gets better heres a broker note from 11/07/2007

http://www.equitydevelopment.co.uk/downloader/432

Flying of the shelves like hot cakes.

Web site for the company.

http://www.abcapman.com/home.asp

This is going to a tenner post results , owe you one GF cheers mate.

Friday's tip update from 'The Share Weekly'...

Absolute Capital increased funds managed eightfold in less than three years
Fri 13/07/07

Recommended in the 9 February issue of TSW at 441p, shares in Absolute Capital Management Holdings (ACMH) have jumped strongly on news of an acquisition and a positive trading update for the six months to 30 June 2007. The business is storming ahead with funds under management reaching $3.1bn as at the end of June, up 100 per cent in six months.If we allow for the acquisition, funds under management are presently $3.25bn against $394m at the end of December 2004. All the signs are that this blistering growth can continue fuelling strong growth in profits and enabling the highly cash-generative group to pursue a generous dividend policy.The shares are a good bet for income as well as capital growth. In 2006 the group paid a dividend of 11.2p. This was the ordinary dividend paid by the group. In addition it paid a special dividend of 19.18p so shareholders received a total of 30.4p. The plan is to grow dividends in line with the growth in earnings.

12 funds, all doing well

There are a number of features that make ACMH an exciting business. The funds, of which there are now 12, are designed to deliver positive returns in all market conditions (hence the name of the group with its emphasis on absolute rather than relative returns). Performance has been consistently excellent. In the first half, out of 346 total performance months across all the funds, there have been only 17 down months. The funds all rank highly against peers, typically first, second, third or fourth against as many as 63 rivals.Tight control of costs means that the strong growth in assets under management translates into equally strong growth in profits. In 2006 revenues, costs and operating profits all rose by around 72 per cent. If the group was not expanding its operating base so strongly profits growth would be even faster and cash generation even more dramatic.

Moneymaking machine in full flow

The hedge fund business is a great machine for turning investment expertise into profits. The group earns management fees (based on assets under management) that in 2006 covered 76.4 per cent of operating costs. The bonanza comes from performance fees levied at 20 per cent of annual returns on the funds. In 2006 pre-tax profits of 27.6m euros were close to the performance fees earned of 29.3m euros.Last but not least is the broadening base of the group that now has equity, bond, property and special situation, activist funds. The result is that ACMH has a talented and growing pool of individuals able to make money across the globe from a wide range of financial instruments. This is a highly scalable cash generative business that could become huge.

Nice one CB.

Absolute Capital Mgmt Holdings Ltd
16 July 2007


Absolute Capital Managements Holdings Limited
('ACMH')

Change of Interim Results Date

ACMH has changed the date announcing its interim results for the period ended 30
June 2007 to Wednesday 25 July 2007.

The change of date has been brought forward from Thursday 26 July 2007 in order
to avoid making the results announcement at the same time as a number of other
quoted financial services companies.

Enquiries:

ACMH Sean Ewing, Chairman and CEO T: +44 (0)7768 255 472

Cardew Group Tim Robertson T: +44 (0)20 7930 0777
Shan Shan Willenbrock
David Roach




This information is provided by RNS
The company news service from the London Stock Exchange

A small tick up this morning in a very quiet market place.

North Real Estate says Suceava Shopping City leasing ahead of schedule
AFX


LONDON (Thomson Financial) - North Real Estate Opportunities Fund Ltd said leasing at the Suceava Shopping City in Suceava Romania is substantially ahead of schedule, with the joint venture development having leased about 60 pct of space in the Shopping Mall segment.

The Guernsey based closed-ended investment company said the joint venture development has fully leased all of its anchor tenant units, and added that the construction is progressing on schedule for its opening in April 2008.

Based upon leases signed to date, the scheme, when fully let, is estimated to generate a net rental yield of 8.5 pct to it, the company said.

The company also said leases have been agreed to extend the European Retail Park Sibiu with Austrian and German sporting goods and fashion retailers.

The development of the extension will generate a yield on cost over 15 pct and is scheduled to be completed by the first quarter of 2008, the company said.

TFN.newsdesk@thomson.com

bsu/slm

HIGHLIGHTS


Financial

Assets under management including acquisitions now $3.25bn, up 165% since
30 June 2006, and 110% since 1 January 2007
Management and performance fees up by 139% and 148%, respectively
(compared to 6 months to 30 June 2006)
Industry leading operating profit margin of 58% (before share-based
payments)
Revenue up 149% to 61.7 million (2006: 24.8 million)
Pre-tax profit up 215% to 36.0 million (2006: 11.4 million)
Substantial progress in building a market leading portfolio of absolute
return funds: ten of our 12 funds are now in excess of $100 million
Basic EPS* up 117% to 0.50 (compared to 6 months to 30 June 2006)
Proposed interim dividend of 0.133

* Excluding non-cash items


Operational

Successful integration of Argo Capital Management, acquired in January
2007, adding significant product diversification and revenue from debt/
finance opportunities in emerging markets
Creation of a new division, Absolute Capital Management Property Limited
('ACMPL') in order to develop a long/short equity presence in the global
real estate market, through managing the AIM listed North Real Estate
Opportunities Fund
Development of in-house client services team in Europe and North America
to distribute the growing range of absolute return funds
To manage the increased size and continued growth of the business, we
have appointed a Chief Operating Officer and separated the role of Chairman
and Chief Executive
Strong investment performance during first half of 2007: event-driven and
long/short funds averaged in excess of 18% annualised net return in H1 2007;
the Argo emerging market debt, the Argo funds averaged 14% annualised net
return in H1 2007
Three recent award nominations: AIM Company of the year 2007 (AIM);
Alternative Investment News Leader of the Year (Alternative Investment
News); and again nominated as HFR's European Hedge Fund Group of the Year
Significant institutional share placing to leading institutional
investors, increasing the free float to over 40%


On the face of it, these seem to be a fairly outstanding set of results. Yet another RNS released with an error in it though, spot the difference!:-

Sean Ewing, Chairman and Chief Executive Officer, said: 'We have increased
assets under management by 165% since 30 June 2006. Organic growth continues to
be strong, with demand from institutional investors for our expanding portfolio
of alternative investment products. We believe that the creation of ACMPL is
well timed to take advantage of long/short opportunities in the current global
real estate market.'



Outlook

We are broadly positive as regards the outlook for the rest of year. Our assets
under management have increased by 165% since June 2007. Our organic growth is
materially ahead of both our peer group and the market in general. Assuming that
fund performance remains in line with target returns, the Board believe that the
business is well positioned and structured to make further significant progress.


Sean Ewing
Chairman and Chief Executive Officer
25 July 2007

165% since June 2006, 165% since June 2007??? Oh well, you just can't get the staff these days. Of course, the quote may be correct, now wouldn't that be brilliant?!!

Good results and we are in the blue, on a rotten day alround.

I can see broker upgrades now.

Yep not a lot wrong with these results.

Re rating on the cards and convinced we'll see a tenner this year.

Cheers again gf.

Panmure reiterate buy and raise target to 750 from 700.

Sharecast coverage:

Hedge fund manager Absolute Capital comfortably beat forecasts it made just two weeks ago as management and performance fees soared in the past six months.

Pre-tax profit jumped by 215% to 36m, from 11.4m in the half-year to June, while revenues climbed 149% to 61.7m from 24.8m. Earlier this month, Absolute had forecast interim profits would be not less than 30m.

Assets under management including acquisitions now total $3.25bn up by 110% over the past six months. Management and performance fees rose by 139% and 148%, respectively, over the same period in 2006, Absolute said.

Event-driven and long/short funds averaged in excess of 18% annualised net return in the first half, the fund manager added, while the Argo emerging market debt funds averaged 14% .

"Organic growth continues to be strong, with demand from institutional investors for our expanding portfolio of alternative investment products," chief executive Sean Ewing said.

The interim dividend proposed is 0.133.

An Absolute winner GF?! I think so, a lot of upside potential here.

KO Loads.

Dill could be right about his tenner.