contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  createdAt
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
    forum {
      threadUrl
    }
    defaultInstrument {
      symbol
      id
    }
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        threadUrl
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        symbol
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


united-bankers-plc-acquisition-of-own-shares-on-week-28

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

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United Bankers is a Finnish expert on wealth management and investment markets, established in 1986. It is one of the oldest non-bank asset managers in Finland. The Group's wealth management business includes funds, discretionary portfolio management, and structured investment products. In its funds, United Bankers specialises in real asset investment solutions, focusing on forest, real estate, infrastructure, and renewable energy. The company also provides capital markets services. United Bankers' headquarters is located in Helsinki.

Indeed, UB made a fairly decent-sized deal by acquiring Fondita! Here is my morning comment                    Inderes – 25 May 26              United Bankers jatkaa yritysostostrategiaansa ostamalla Fonditan - Inderes    Yrityosto täydentää UB:n tarjontaa, ja Fonditan päätyminen UB:lle oli meille yllätys.                             Fondita’s AUM (Assets Under Management) has dropped significantly in recent years. The reason is the decline in small-cap stocks, which has been reflected in the weak performance of the funds. This, in turn, has led to substantial net redemptions and valuation decreases. The fee margin has held up reasonably well and remains good.   Naturally, when AUM decreases, revenue and profit also decline. The company is, of course, still very profitable, but it’s telling that in 2021 they made more operating profit than they currently make in revenue. Fondita hardly charges any performance fees, meaning the fees are essentially entirely recurring.   In my opinion, this is a clear bet from UB on small-cap stocks and active portfolio management. If UB manages to reverse that AUM decline, the deal will easily create significant value, as the 2025 EV/EBIT is only ~4.6x. Based on 2026 figures, we are likely in the 6-8x range. In the best-case scenario, UB is buying Fondita right at the trough for small caps, and just the reversal of this trend will push AUM into brisk growth in the coming years.  Was it a good deal? As I told Kauppalehti, it’s “okay.” UB didn’t strictly need Fondita, but at that price, the expected values are certainly in place.  Here is my KL comment as well: https://www.kauppalehti.fi/uutiset/a/c51a3bb4-cb07-4317-b930-5bd2e54b4c67

Inderes              Sisäpiiritieto: United Bankers Oyj ostaa Fondita Rahastoyhtiö Oy:n - Inderes    United Bankers Oyj SISÄPIIRITIETO 22.5.2026 kello 22.00 Sisäpiiritieto: United Bankers Oyj ostaa Fondita Rahastoyhtiö Oy:nUnited Bankers Oyj ("United Bankers", "Yhtiö") on sopinut tänään 22....                             A quite significant deal from UB to kick off the weekend. @Sauli_Vilen will have something to chew on over the weekend.

Really good interview with UB on AMWatch (paywall).                   amwatch.com – 22 Apr 26              Finnish fund manager looks across the border for an acquisition: "Our aim is...    CEO of Finland’s United Bankers John Ojanperä tells AMWatch what kind of acquisition target the Finnish company is looking for.                             Below are the most important highlights: “Our primary aim is to double our AUM to EUR 10bn by 2028. This isn’t a target we will be able to reach without making acquisitions, so we are looking for acquisition targets both in Finland and overseas,” Ojanperä says at the company’s office in Helsinki. “The ideal acquisition target would be an international company with an AUM of around EUR 0.5–1bn,” Ojanperä says and adds: Companies in the Nordic countries – particularly in Sweden – are on United Bankers’ radar, though firms in German-speaking countries may also be of interest, according to Ojanperä. “The target company does not necessarily need to be an asset or wealth manager; it could also be a niche alternative manager in forestry or real estate, a distributor with strong sales know-how and a solid team, or a consultancy with expertise in a specific field,” Ojanperä explains. The fact that the AUM target won’t be reached without M&A is nothing new, but specifying the targets this precisely hasn’t been done publicly before. Of course, with those same specs (+ cultural fit), practically every asset manager in Helsinki would like to find something to buy  “Fourton, whose funds we acquired, has an AUM of EUR 150m, and that kind of size is easy to digest. However, if one acquires a company from overseas, it is very difficult to buy a company with such a small AUM and then run it from Finland.” Good to remember that international M&A is a difficult game in this business. “Our product portfolio is already in good shape, but I believe we can still expand it somewhat with new offerings. Outside Finland, we are focusing on growth in German-speaking countries and the DACH region, in France, the Netherlands and Belgium alongside the Nordics – where we have offices in Helsinki and Stockholm,” says Ojanperä. The product offering could still use a bit of expansion; I think this refers to closed-end PE funds, which I’m still expecting by the end of the year.

An article from UB about the sustainability of data centers, as these are projects spanning decades. “Data center projects are investments of an exceptional scale, with impacts extending for decades. Therefore, their development is a strategic choice linked to the development of the municipality and society as a whole.”                   Inderes – 17 Apr 26              Vastuullisen datakeskuksen peruspilarit: näin hanke rakennetaan kestävälle...    Datakeskusten vaikutukset yltävät vuosikymmenien päähän.                             Risto Siilasmaa also touched on the subject from a strategic perspective on LinkedIn. Data centers consume a massive amount of electricity, which is not produced in infinite supply even in Finland. We must carefully consider which projects truly create value and strengthen security here in Europe.  "That is why we should favor investments that:  • bring long-term tax revenue  • create significant employment  • strengthen the security of Finland and Europe Not all data centers meet these criteria.  Especially in a situation where vast amounts of electricity are consumed, but the value and decision-making power flow out of Finland."                    LinkedIn              60-vuotias | Suomi on tekemässä virheen, sanoo Risto Siilasmaa datakeskuksista...    Annoin Helsingin Sanomille haastattelun, jossa nostin esiin yksinkertaisen mutta tärkeän kysymyksen:  Mihin Suomen rajallinen vihreä sähkö kannattaa käyttää?  Vihreä sähkö ei ole meille vain tuotantotekijä – se on strateginen resurssi.  Siksi meidän...

UB’s article about data centers.                   Inderes – 16 Apr 26              Mitä datakeskus tuo kunnalle? Vaikutukset nyt ja tulevaisuudessa - Inderes    Datakeskukset ovat investointimahdollisuus ja strateginen valinta.

We chatted with Sauli about UB’s situation, more on earnings growth and new sales in the video as well.                    Inderes              United Bankers: Uusmyyntiin tarvitaan potkua - Inderes    Aika: 17.03.2026 klo 13.15 United Bankersin pitkän aikavälin tuloskasvunäkymä on edelleen erittäin hyvä, mutta lyhyellä aikavälillä vaihtoehtoisten haastava markkinatilanne heittää kapuloita rattaisiin.                             Topics:  00:00 Introduction  00:19 Asset manager focused on real assets  01:26 High share of performance fees in the result  04:15 Challenges in new sales  08:18 Financial targets and AUM growth  10:25 M&A  13:25 Forecasts for the coming years  16:10 Stock valuation

UB is pretty cool. Ruoholahti proletarian Sauli has produced a comprehensive report on United Bankers, and like other comprehensive reports, it is available for everyone to read and there are no paywalls  UB’s investment story has improved significantly in recent years, and it has emerged as a high-quality asset manager. We believe the longer-term earnings growth outlook is very good, but in the short term, the challenging market situation for alternatives is throwing a wrench in the works. Without brisk earnings growth, the stock has no upside, but if forecasts materialize, the expected return is good. We want to see concrete signs of accelerating earnings growth and reiterate our Reduce recommendation with a target price of EUR 19.0 (prev. EUR 18.0).                   Inderes              United Bankers laaja raportti: Kasvumoottori hakee vielä kierroksia - Inderes    UB:n sijoittajatarina on parantunut merkittävästi viime vuosina, ja pidemmän aikavälin kasvukuva on houkutteleva. Vaihtoehtoisten haastava markkinatilanne heittää kuitenkin kapuloita tuloskasvun rattaisiin lyhyeillä aikavälillä.                             Quotes from the report: Still potential in scalability Due to the fixed cost structure, the operating leverage of the business is significant, which has been reflected in Asset Management’s figures in recent years: from 2018 to 2024, approximately 50% of the growth in Asset Management’s revenue has flowed through to EBITDA. We believe this level is reasonable but clearly pales in comparison to the sector’s top companies, where operating leverage has consistently been between 70% and 100%. The company’s fixed costs have increased continuously as it has expanded its product offering and grown its sales force. The company should therefore have the potential to raise its Asset Management profitability significantly from current levels, especially if performance fees remain at a high level. We believe this higher operating leverage is realistic over a couple of years as the company’s sales accelerate from current levels and the growth investments currently being made are completed.

United Bankers

United Bankers PlcNOTIFICATION13.07.2026 at 12:00UNITED BANKERS PLC: ACQUISITION OF OWN SHARES on week 28DateQuantityAverage priceTotal price06.07.202642321.50549,096.7807.07.202626222.38245...

<table><tbody><tr><td>United Bankers Plc</td><td align="right">NOTIFICATION</td></tr></tbody></table><p>13.07.2026 at 12:00</p><p>UNITED BANKERS PLC: ACQUISITION OF OWN SHARES on week 28</p><table><tbody><tr><td>Date</td><td align="right">Quantity</td><td align="right">Average price</td><td align="right">Total price</td></tr><tr><td>06.07.2026</td><td align="right">423</td><td align="right">21.5054</td><td align="right">9,096.78</td></tr><tr><td>07.07.2026</td><td align="right">262</td><td align="right">22.3824</td><td align="right">5,864.19</td></tr><tr><td>08.07.2026</td><td align="right">435</td><td align="right">23.7759</td><td align="right">10,342.52</td></tr><tr><td>09.07.2026</td><td align="right">443</td><td align="right">22.7000</td><td align="right">10,056.10</td></tr><tr><td>10.07.2026</td><td align="right">360</td><td align="right">22.8000</td><td align="right">8,208.00</td></tr><tr><td>Total in week 28</td><td align="right">1,923</td><td align="right">22.6561</td><td align="right">43,567.59</td></tr></tbody></table><p>The shares held by United Bankers Plc, Including the shares acquired on 10.07.2026:</p><table><tbody><tr><td>&nbsp;</td><td align="right">UNITED 71,470</td><td align="right">&nbsp;</td><td align="right">&nbsp;</td></tr></tbody></table><p>&nbsp;</p><p>The share buybacks are executed in compliance with Regulation No. 596/2014 of the European Parliament and Council (MAR) Article 5 and the Commission Delegated Regulation (EU) 2016/1052.</p><p>&nbsp;</p><p>On behalf of United Bankers Plc</p><p>Skandinaviska Enskilda Banken AB (Publ) Helsinki Branch</p><p>&nbsp;</p><p>Jaakko Kosunen Janne Tiihonen</p><p>For more information, please contact:<br>John Ojanperä, CEO, United Bankers Plc<br>e-mail: <a href="mailto:john.ojanpera@unitedbankers.fi">john.ojanpera@unitedbankers.fi</a> <br>Phone: 040&nbsp;842 3472, 09 25&nbsp;380 356 <br><a href="https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Funitedbankers.fi%2Ffi&amp;data=05%7C02%7Cjaakko-hermanni.kosunen%40seb.fi%7C4f762adb7c504592326d08dd07f201a3%7C9a8ff9e30e354620a724e9834dc50b51%7C0%7C0%7C638675458056090197%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=9FBCfN3sLMIerUpkHWEiPmhe2KMu%2BiiPc1h6tXy16%2Fk%3D&amp;reserved=0">www.unitedbankers.fi</a></p>      <div>        <hr>        <div><strong>Attachments</strong></div>        <div><a href="https://storage.googleapis.com/inderes-widgets-prod-assets/ub/attachments/ab14fd8a-b555-4e74-bd29-8bdedd6abb8d/ub-sbb-week-28.xlsx">UB SBB week 28.xlsx</a></div>      </div>

Date	Quantity	Average price	Total price
06.07.2026	423	21.5054	9,096.78
07.07.2026	262	22.3824	5,864.19
08.07.2026	435	23.7759	10,342.52
09.07.2026	443	22.7000	10,056.10
10.07.2026	360	22.8000	8,208.00
Total in week 28	1,923	22.6561	43,567.59