re: Ann: HUB24 - Addition of Fund Manager Por...
I think short term they will struggle to get $400m under management by 30 June. You can't turn the tap on and roll in clients funds just like that. Plus the advisers need to be convinced and unfortunately some are stuck in their ways for a period of time.
However it's a great platform, is unique and very fee competitive in the Australian market so they won't have any troubles fulfilling FUM expectations in 2 to 3 years time which is where it counts.
Short term just don't be too surprised or upset if they miss some of those early FUM targets outlined in Southern Cross research report.
INQ Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
