Share Price

I have just made IFL one of my major holdings, I believe that the price as of now, renders IFL as quite undervalued. When I was reading the annual reports I came across an interesting statistic. In the opening pages from 2014-2019 it says that IFL services 650k Aussies in 2014, compared to 500k during 2019, however in the 2020 annual report, they serviced 1 million Australians! This shows the need for financial services as a result of covid, and I personally see this continuing into the future, as individuals and corporations utilise financial advisories as they encounter economic hardship. the new acquisition of MLC also means that the market cap is now 3 billion AUD, it seems that if IFL can integrate MLC correctly (which they have proven to do when reading through annual reports), we will see an increase in earnings which should help to bolster the share price and dividend price. As well as this I believe the management team Is very good and heading in the right direction, they have delivered on all of their goals stated in the annual report which gives me confidence, although earnings have been falling significantly from about 2016, I believe that the combination of MLC and management, we will see a new IOOF. what do you think?