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Ann: AEF FUM at 30 June 2016-AEF.AX, page-11

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gosouth

2,582 Posts.

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18/10/16

12:18

Post #: 19935179
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Originally posted by peterdoobes ↑

Thanks gosouth.

When I asked the company about it back in August it sounded like the provision was a best estimate the board had decided on. I was under the impression the cause and extent was still been investigated. Potential blame may lie with AEF or their platform provider or maybe a combination. It all depends how far back the errors go back. You don't need a very big error on $1b of funds to make a significant number and I'm surprised the market has basically ignored the issue. Errors like this can also cause reputation issues if the problem starts getting publicity.

Until they can announce to the market the final cost and resolution I am treading carefully. Perhaps I've over-reacted but I've sold down significantly until there is further clarity which is a shame because AEF is one of the better growth plays out there.

Expand

Solid growth in FUM today, nothing wrong with those stats.
But PeterDoobes, as you suggested there is a very clear 'flag' raised around the superannuation unit pricing issue......
And what do they mean 'costs are being incurred'??
There does seem to be clear scope for an unwelcome announcement in the half yearly.....
Gosouth

AEF Price at posting: $88.97 Sentiment: None Disclosure: Held
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(20min delay)
Last $4.95		Change 0.030(0.61%)		Mkt cap ! $483.8M

Open	High	Low	Value	Volume
$4.97	$4.97	$4.91	$9.729K	1.975K

Buyers (Bids)

No.	Vol.	Price($)
1	91	$4.95

Sellers (Offers)

Price($)	Vol.	No.
$4.97	3465	6

View Market Depth

No.	Vol.	Price($)
2	3054	2.360
2	321	2.340
1	370	2.290
2	5353	2.260
1	9000	2.250

Price($)	Vol.	No.
2.380	8849	3
2.390	8260	1
2.400	4200	2
2.460	280	1
2.500	1500	1

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