Ann: AGM Presentation 2019, page-2

Impressive. I bought some more.

In 1 month:
Client cash +10%
Active clients up >10%
Trades 41.5k for Oct vs 78.5k for past 3 months. (I think this can be inferred from the numbers, from the "120k trades in FY20")

Advisors on the advisor platform - 28 advisor groups, including 700 advisors, I think. Sounds good.

At some point lately, it seems that their interest earned on client cash changed from RBA+0.75% to RBA+0.8%, offsetting a little of RBA's cuts.

So a very strong October. With December sure to be seasonally down, it's hard to predict whether Q2 will look strong or not, but a strong October surely suggest a strong Q3 (since that Quarter will have 3 regular months).

"Development still required for outstanding functionality" - I'd hope so. Improving the platform can only improve other metrics, like participation/interaction/word-of-mouth.

$103-104m AUM in the ETF after ~10 days. With the first $100m earning nothing, that equates to $20k fees PA currently, but it can only grow from here. As they say, if it reaches $200m AUM, that'll get $480k fees. It's possible to reach that after a year. The other divisions look to be growing strongly in the mean time, with the only real headwind being RBA cuts (and possibly a surprise like Robin Hood cutting into their idea of offering international trades).


From the old announcement - "Jul-Aug beats Q419 trades count", that suggests September alone had <22000 trades. If October had 41500 trades (am I not miscalculating?!) that October sounds VERY impressive. Maybe that is regular retain growth combined with advisor platform starting to make trades.

And a little side question: for the $100m seed fund: say the ETF rose in value by 5%, so the seed fund changed to be $105m AUM. Would the $5m above the initial $100m seed start paying fees? If that is the case, then SWF can actually start earning some money on those seed funds, if the ETF rises.