Ann: Funds under management as at 30 June 2021, page-14

Hi @Shake It, it does take a lot to understand PAC. I believe the primary reason investors avoid PAC is the financial adjustments that occur every year. Seizert was disappointing over the last two years, Nereus and other write offs over the previous years to that. Significant contributors to devaluation losses (apart from stupid joint venture).
It clouds the bottom line and investors do not trust on this basis. Particularly when you look at data in trading platforms, as opposed to reading financial reports.
It has taken a long time, but current management have finally cleaned up balance sheet with decisions to sell off Seizert and other write offs. There are minimal risks remaining - comfortable that there will be no risks of write offs in upcoming financial report.

Hi @Bearman, PAC/TRG hit its straps between 2001 to 2007 and 2013 to 2015 (pre-merger). We are due for a change in PAC valuation if we use the 6 year gap between high PE ratio trend. Will last for a while this time, similar to 2001-2007 period. For current shareholders, fingers crossed.

Best of Luck
Lost