Chart, page-36

CR - the general purpose of a placement (insto or sophisticated anyway) is to entice instos a decent entry into the stock. These funds are typically a lot more sticky than the average punter and most of the time benefits in the long run. The higher the proportion of big money which goes into these things the better - register tightens and runs up quicker on good news. Are your rants just a bit of tall poppy syndrome? PS - you had half of your SMSF in a $20m mkt cap company? (insert dumbfounded face).

I think these guys are a while off needing any extra money anyway but when they do, happy for it to go into safer hands than someone who happily just takes their stakes off the table when it goes up in a week.