Hi AllFor those who missed attending the conference call, the...

Hi All

For those who missed attending the conference call, the recording can now be found here:

https://paccurrent.com/wp-content/uploads/2021/03/1H-FY2021-Results-Conference-Call-Audio.mp3

Some interesting points:
1) “If Astarte management execute well, they could become the largest contributor to the group in 3 to 4 years”, said Paul Greenwood.
2) Expect another similar sized investment this financial year.
3) Expect stable expenses through the financial year (this is great news for shareholders, 24% expense reduction will increase Net Profit Margin)
4) Last couple of years there has been a skew of 2/3 profitability toward end of year. Paul Greenwood expects (I should say I interpreted what he said) this to decrease as GQG and others with growing FUM start to contribute more evenly over the year due to management fees”
5) No buybacks, due to when they look at investments in Fund Managers it could have a material impact on share price - therefore inside information on upcoming share price jump.
6) If SPACS list this financial year it will be a material contribution to PAC’s profits. Looking forward to this, as posted previously, I believe this could be tens of millions of dollars, increasing PAC underlying NPAT far more than any commissions or management fees.

Best of Luck
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