Hi Sabine : That's an interesting analysis but as a long-term holder of IOOF shares I hope you're wrong
IOOF has about $100 billion assets under management so, AEI withdrawing approx $9mil assets is not material in a numerical sense but it's good publicity and will appeal to it's target market. Overall, IOOF has served Australia well for over 170 years. Newbies like AEI & industry funds would doubtless benefit from lowering IOOF's reputation and share price, and drawing SMSF funds away into their own coffers.
I've posted previously about the collateral losses for SMSF investors (like myself) due to the Royal Commission. I blame government agencies for not managing transgressions of financial instos in an effective but less public and adversarial way than the RC and thereby preserve the greater good.
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