From what I can see, Nucleus is moving to FNZ because its acquirer (James Hay) has a strategic alliance with FNZ (who knows whether the software is better, but it makes sense for the combined firm to use one software tool).
Also the article I saw indicates that Nucleus has 17.4bn pounds AUA and 101k customers.
The contract BVS signed with Aware I would imagine is much bigger than the Nucleus loss....Aware are managing A$130bn for over 1m members.
With EPS of 16.5c last year and guidance for a similar NPAT in FY2021 is the market overreacting (although I do have concerns about the CEO indicating 80% of NPAT would be weighted to 2H21.....makes no sense given the recurring nature of revenues, but perhaps he was talking about pipeline). He also flagged it was covid & brexit related...not sure UK is any better in 2H.....if anything the UK is a bigger basket case than 1H
BVS Price at posting:
$2.82 Sentiment: Hold Disclosure: Held
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