Ann: Analyst Briefing - June 2021 Yearly Results, page-7

Optionality in terms of not just continuing to be a vanilla fund manager with a stable of mature funds with struggles to attract new money. Optionality such as private investments in other ventures such as Barrenjoey, Finclear and GYG.

These funds are well advanced in terms of age and eventually will be redeemed upon by ultra long term holders/entities. I haven't even mentioned redemptions due to long term underperformance. For younger investors, ETF's and passive investments are all the rage given low fees and better performance (ironically in part because of the low fees). Managed funds still have their place in the investing world, but where's the products which cover where investors are going from Platinum such as ESG, Infrastructure and Income?

For closed pool asset fund managers, the attraction of new money is through advisors. Magellan is killing it compared to Platinum in terms of inflows, perhaps due to new innovative products such as Future Pay and ETMF's. Plus it still has its "superstar" fund manager as CIO whereas Platinum's retired a while ago.

@lost thanks for the info