Ann: Change in substantial holding, page-5

Well there it is, Ausbil was buying 20M shares cheap while Zeta sold them for a loss cheap, NUTS.

And look at Ausbil.
Its a New York super fund owner with $650B AUM that clearly believes in Ni & PAN and has been net buying for 6 months at these dirt cheap lows under 19c.

Where are all the other top 29 fund managers who have ignored PAN?
Soon the conga line accumulation by INSTOs & ramp imho.
If Ausbil/NYLI want cheap PAN shares what about all the others?


"Ausbil Investment Management Limited is a leading Australian investment manager. Established in April 1997, Ausbil’s core business is the management of Australian and global equities for major superannuation funds, institutional investors, master trust and retail clients. Ausbil manage over $16.4 billion¹ in active Australian and global equity investments. Ausbil is owned by its employees and New York Life Investment Management (NYLIM), a wholly-owned subsidiary of New York Life Insurance Company. NYLIM has more than US$650 billion in assets under management. NYLIM has a number of boutique affiliates including MacKay Shields, Candriam Investors Group and Apogem Capital.
Ausbil’s company structure embraces four criteria important in the selection of an investment manager:

• Solid ownership structure providing strong financial integrity to the investment manager;
• Key management incentivised by way of ownership in the business;
• Proven investment processes and performance track record in core areas of expertise with a strong focus on risk management skills;
• An experienced and stable team of investment managers.

The investment philosophy and corporate goals of Ausbil have been formulated to provide a tightly defined and disciplined investment management style that is active and incorporates quantitative inputs and risk awareness. Ausbil’s style pursues the goal of adding value from a clear set of transparent processes that seek to enhance performance, whilst managing risk.

Ausbil is a signatory to the Principles for Responsible Investment (PRI) and has a dedicated environmental, social and governance (ESG) research team who provide an in-house service. ESG research is integrated into Ausbil's investment process. Ausbil believes that a consideration of ESG issues as developed by well-founded ESG research can identify mispriced stocks and assess a company's earnings sustainability. Similarly, engagement on ESG issues can drive long-term value and reduce the risk of value destruction.   Ausbil has monitored and engaged with companies on their corporate governance record and to this extent has historically regarded proxy voting as an important part of its fiduciary duties.


New York Life Investments, a wholly owned subsidiary of New York Life Insurance Company, is a premier investment management firm serving a variety of sectors – retail, institutional, bundled defined contribution and defined benefit, and guaranteed products. New York life Investments is the 30th largest asset management firm in the U.S². New York Life Investments hold over $650 billion in assets under management³. Learn more about New York Life Investment Management."