I agree the performance fees are effectively just a bonus for shareholders and as each of the funds gets more mature the high watermark makes it more difficult to eke out a pf. That's why new mandates are always nice.
The retail inflows are just as nice as a pf. Its good sticky money at a very high MER. We should net 1% from these funds.
I also think there will be a few more international insto wins this year, as flagged by Hamish.
This is not a raging buy but is a nice anchor to my portfolio. I think fair value is around $23-24.
I agree the performance fees are effectively just a bonus for...
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Last
$11.39 |
Change
0.115(1.02%) |
Mkt cap ! $1.740B | |||
| Open | High | Low | Value | Volume |
| $11.19 | $11.45 | $11.18 | $2.892M | 254.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 1005 | $11.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.39 | 2487 | 16 |
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| Last trade - 12.39pm 04/12/2024 (20 minute delay) ? |
| MFG (ASX) Chart |
