For me the take-home bits were:Everest will begin the winding...

For me the take-home bits were:

Everest will begin the winding down of approximately
50% of Everest Funds. So I'm presuming the $1.1bn FUM as at 31/3/09 may drop to $0.6bn over the next 2 years or so?

Generally exiting from the provision of retail funds to the public, and will concentrate on investing institutional and wealthy client monies only.

The decrease in the employee headcount will impact the 2009 results. Could read this either way, but I take it to mean a short term negative, ie that redundancy and payout costs might be substantial, so negatively impacting the 2009 result and cash held.

No additional financials or year end forecast given. Always makes me uneasy when this is ignored. The presentation only covered the desired business strategy going forward. All well and good but incomplete without financial projections.

And as an aside, showed an interesting chart comparing global sharemarket losses to the cost of the various US intervention programs.

Interested in others perceptions.