I think looking at funds management alone, it comes down to net flows and fund returns. They had a magical performance for many years, but are a huge business now, and have thrown in distractions on top with these new businesses. They may not realise how distracting this will be. Their first inkling today?
This is also a funny business to lump onto investors who signed up to invest in a fund manager. There may need to be a transition period, with a new kind of shareholder buying in, who can evaluate the new business. Really Barrenjoey is a highly opaque business ATM - industry insiders will have a big advantage, as they will know more about what is going on IMO.
I have loved trading MFG regularly - Barrenjoey adds a big wrinkle for me. Do I need to read "days of our lives" in the media to find out who ate lunch with whom now? lol
MFG Price at posting:
$46.55 Sentiment: Sell Disclosure: Held
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