Class Limited IPO, page-37

Limited upside in the smsf admin space verda. There's only 530k funds on offer. Half of the accounting for these live out in country towns and on crappie software and excel spreadsheets and the like and quite frankly these accountants have never heard of class super and don't give a rat's about cloud based solutions. AMP is a big loss for class, they lose 11k of existings and the ability to piggy back off all future acqusitions and gains. AMP want a major footprint in the space ie they want 50k to 100k in funds. BGLs desktop solution is also a big player. Just be weary of upside limitations and the headwinds when fighting for mkt share in this space. It's a cottage industry alright.