"With a mere $420m market cap, MyState (MYS) resulted from the merger of Tasmania’s Trust Bank and Tasmanian Perpetual Trustees with the Rockhampton based The Rock building society.MyState is benefiting from the surprise resurgence of Tasmania’s economy, but also has been growing strongly outside of its traditional Tassie and Queensland heartland. Notably, MyState has a wealth management division, last year growing funds under management or advice by 6 percent to $1.153bn. With all the Big Four except for Westpac retreating from advice and with AMP in disarray, it’s a nice business to emphasise."
MYS Price at posting:
$4.68 Sentiment: Hold Disclosure: Held