35 billion fund outflows over 4 years Macquarie said, well is it an estimate or they know for SURE ?? I can name a figure too but I think it is only an opinion, I don't believe anyone can see the future ?? AMP actually said the asset under management for three months ending in March is UP not down and naturally the next three months to JUNE would tell the truth.
If Macquarie estimate was right then AMP needs to lose about 8.5 billion a year out flows or about 2.1 Billion ?? every three months......time will tell the truth !!
My logic says if I had money with AMP and they are giving me good returns/profits year after year or comparable with others then I would not pull my funds out just because some people within the company or some at the management had been dishonest .....as my goal to invest with any fund manager or wealth management is to get the best possible return BUT I would definitely pull my money out if they don't give me the return I need regardless whether they are the most honest operators or not.....how much return I will get is the criteria I use.
What they have done is insane and a crime and sure the people responsible should face justice but not everyone who has funds invested would pull their money out just because of this......some will wait and not everyone will get panic.
It is a very risky game to go long and capital/risk need to be managed properly but it is risk v reward and in most cases big companies survive....how long...no one knows ? but the fund outflows for the next 4 years Maqcuarie know for sure.
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