Disappointing but understandable. Extra marketing is delivering returns and IT restructure should be a one off. More encouraging is growing FUM already offsetting lower fees. Ethical slant provides a point of difference and long term future of super bodes well so FUM (and hence earnings) should continue to grow. Good value at these prices for this cash laden, growing, profitable business. Plus they're making the world a better place.
AEF Price at posting:
$38.00 Sentiment: Buy Disclosure: Held
