I’m reasonably happy, because I compare pcg with aef and the...

I’m reasonably happy, because I compare pcg with aef and the consistency of pcgs dividends is atrocious. I agree AEF has put their foot on the cost accelerator with a 40% jump in costs due to big staff hiring in 2018. Check out industry moves website about staff movements.
https://industrymoves.com/organisations/australian-ethical

That surge in costs would have cost $3M (per tax) each half. So we would be roughly on par without that spend. The staff recruitment has slowed, but we need to trim management fees next. We are above average in terms of costs and need to push lower for a more competitive product. I haven’t check pcgs inflows compared to others but it is unlikely to surpass AEF’s. That’s probably why pcg’s share price is not growing as fast as AEF’s. What is pcg doing about their poorer sp growth rate?

If pcg is so great sell all your AEF and change ships.