Ann: AGM and Trading Update, page-15

even a bit better now! I think they are a good low risk buy alright but they are being punished for the mistakes of soulpats... and that is unusual because Sol pats don't make many mistakes!
Of course their biggest mistake seems to have been taking on a lot of shares with the merger while the share market was at the top of the market.... I have not followed fum either so whether there was some outflows there I don't know.... certain fund managers have been on the nose particularly if they get a loss of fum.

The thing is one would assume that the reserve bank would know that putting interest rates up will not help commodity price caused inflation , bar making our dollar stronger I guess!
But the higher oil prices and other costs have surely got to be a weight on the economy ( America as well where high oil prices tend to slow consumer spoending) which might mean interest rates will not take off as fast as the finance markets believe! Sol's may yet get a win in their big equities purchase, which I believe they got at a bit of a discount also!

worst thing about merger in my eyes? diluted NHC effect here, and also BKW holding here through cross shareholding