Ann: Appendix 4C quarterly & Update, page-2

This morning 'The Australian' is reprting how the number of licensed financial advisers in Australia is continuing to dramatically decrease, and how the best operators are now continually 'booked out' due to the shortage.

There's also been much publicity about how ETFs are dominating funds inflows.

Yet during the past year, funds under management through FID have risen from A$9.6 billion to A$12 billion - up 25 per cent. I am no expert re this sector but on the face of it, pleasing.

Notable how acquisition costs were only $1 million in the six months to December 2022 but in the March quarter were $7.118 million. Given that Mr Indy Singh has commented IIRC that acquisitions are accretive, again, pleasing.

'Mr Market' may have a savage day today but FID seems to be motoring along fairly well.