Share Price, page-286

I don't know anything about PAC but looking at their FUM and revenues it doesn't look like they are in the same game. Their management fees look very low. In terms of PNI they hold a lot of minority interests in other fund managers and also have been acquisitive so their FUM growth isn't organic. Also, I think the overall point is that do you believe Australia lags behind in ethical investment/acknowledgement/awareness? Typically, the investors investing into such a fund will be seeking a solid return but they may be willing to let go of a few basis points in order to stick to the ethical agenda. Also, naturally the universe of investable options is significantly reduced so the fact that AEF has been able to generate almost 10% pa over the past 10 years is a fantastic outcome.

Re. the moniker sorry but I disagree. AEF has been growing FUM organically at 25%+. They are clearly not as well known as Platinum, Pinnacle or MGF. The fact that they have been growing at such a rate is an achievement and should continue as they gain popularity.

Investing in AEF doesn't mean you cannot invest in another fund manager.