In the announcement to purchase CAML the company claimed there were $650m under management (17th October 2013).
In the present announcement to sell they claim just over $620m in management (includes new CIE fund so privately managed funds have shrank).
So on the face of it making a profit on the sale is not too bad.
However, CAML may have held shares in CTN and now hold CIE and the notes. I am not sure how these are accounted. Lets hope they do not crush the share price if they unload. It would have been nice to see the books before the sale, perhaps that is why it is been rushed through before end of financial year. At least as a public entity the books will be visible for the new manager.
Still, a share of the manager would have been nice.
Ann: Sale of Funds Management Subsidiary,TDX-CTN.AX, page-8
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