some peeps just cant understand it....at $120bn + funds performing + perf bonuses = wolf of wall street, charge + up fees plus mega perf bonuses + do what you want! life's bliss....
at $45bn...hmmm, barely cover overheads, ratings on alert - get out, zero perf fees (as confirmed already), any remaining talent looks to leave (those egos need mega bonuses), clients follow, margins drop, death spiral.....further profit squeeze....expenses reaffirmed mid $130-150m were they not? whats left?? pale shade of the $120bn fum glory dayz...!
dont worry - itll sink in at full year. half year is still above ~50bn FUM avg - so A SOFT LANDING, but full year which may end sub 30bn FUM at current hemorrhage - ouch, itll be UGLY....and FY24 will be wayyyy worse....
....now when is that NEXT interest rate rise.....5% risk free in the bank, recession on its way globally...hmmm....mfg.....hmmmm wonder which way markets may turn...."hmmm i dont know-let me think about this one"
NOT HELD for MANY reasons
MFG Price at posting:
$9.12 Sentiment: Sell Disclosure: Not Held
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