We can now tally up FY23.
Retail outflows = $5.6bn (average retail margin I estimate at 1.22% = $68.32m annualised of lost revenue)
Institutional outflows = $19.5bn (average Insto margin I estimate at 0.33% = $64.35m annualised of lost revenue).
The full year tally of reduction in revenue ($132m) basically equates to their annual operating costs (approx $128m). Will be interesting if we see a cost-out plan being announced with the FY23 financial results.
Ann: Funds Under Management and Performance Fee Update- June 2023, page-5
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$10.43 |
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Mkt cap ! $1.793B | |||
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