Ah, now I get it. Didn't see those announcements. And what a friggin debacle. Can't get a financial report out on what is virtually a shuttered business? Really?
So they are saying they are going to look for investment opportunities with a view to announcing an acquisition within 6 months. Unless they already have something largely in the bag, I don't think it will happen, not for anything quality. I my view, Simon Lindsay is a marked man after the failure of Aurora. John Corr and Sandy Morgan, maybe. They have reasonable reputations albeit tarnished by the Aurora debacle.
SIV sales in the broader market are falling rapidly and SAM have said basically that it's dead in the water on that path. Lindsay has also set up another business (Quay Funds Services) looking to be a RE for hire as well as being a market making agent for Exchange Traded Managed Funds. But to be honest, who would use them? Betashares have got a firm foothold in that space for the ETMF crowd. Absolutely no reason to use SAM unless you were desperate in my view.
I maintain the view that this is a dead duck.
SAM Price at posting:
4.0¢ Sentiment: Sell Disclosure: Not Held
