Ann: Response to ASX Query re Appendix 4C, page-14

Yoda try lightsaber stab in dark. DYOR.
But first notice CGA now trading sub one dollar.
CGA no profit, no dividend. Try simple metric like market cap/ fum of 1% to 3%.
Depending on fum retail and sticky, or wholesale and skittish.
Half of CGA fum in insto mandates. Overall performance across all strategies from micro to large cap , nothing to shout about.
Also, the more strategies CGA offer, the more the cost base. Micro manager cannot be PM for large cap or fixed interest,for example.
Use 1.5%?
Assume fum doubles to $1.5 billion in 3 years.
That equals $22.5m market cap or slightly more than 50c.
All roads lead to one conclusion.
Less than ipo issue price.