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clock Created with Sketch. 21/06/16
20:37
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Originally posted by Occam Logic
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Well, you have a microcap stock which as a fund manager is a leveraged play on the markets. Sure they have done well as Ethical/SRI investing has gained greater traction. But they need to maintain Funds Under Management (FUM) growth. They are coming off a low base, so results are amplified somewhat. In addition, while their individuals funds have done pretty well, you get a free kick when dealing with a (relatively) small fund base, so you would reasonably expect to get some return erosion as they grow. Also, a caution would be their PE, which looks pretty full compared to other listed fund managers.
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Appreciate the info.
