360 Capital (ASX:TGP) share price edges higher on earnings forecast

Fund manager 360 Capital Group Ltd (ASX: TGP) today says it expects earnings to double in FY21, as the company aims to scale up its private equity business and expand its businesses across the investment strategies. The 360 Capital share price rose by 2.5% to 82 cents after the announcement.

What else was said by 360 Capital today?

360 Capital is forecasting a distribution of 4 cents per share in FY21. As such, the company expects its earnings per share (EPS) to be above 4 cents, but more clarity around these figures will be announced in its half year FY21 results in February 2021.

The company says its focus in FY21 is to continue to scale each of the funds under its management, and to start getting efficiencies from scaling up…