:yes well said. However should anyone make an agreed bid, its very easy to bulk transfer the near $5bn of managed account clients to a better platform. PAS is more problematic being presumably individual HIN. I have been very wrong on this one, keep chasing it down. At the AGM they mentioned they were adding in a SQL overlay front end. Since they’ve reaffirmed relabelling in February, I would have thought that software effort is in testing phase. Time will tell. I confess I don’t know too much about their software other than its American and they claim it is very good on international. I know Linear spent a fortune on developing the Iress software, presumably thats all just dead money.
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