Hi @MarkHGOThere is also likely to be an announcement of a new...

Hi @MarkHGO

There is also likely to be an announcement of a new investment soon. The half year may be a bit below expectations due to AUD/USD exchange rate and potential execution of the Nereus Capital sale. PAC will announce HY results on the 24/02.

The positives are:
1. Banner Oaks continues to grow and will contribute income through the Preferred Investment payments. Assume this is AUD 7c for the half year (the AUD/USD exchange rate has decreased from 0.7268 at the time of Banner Oaks investment to PAC's rate of 0.6813) The AUD/USD movement will increase Banner Oaks payments from 6.5c forecast at the time to 7c.
2. GQG will announce its latest quarterly dividend on Friday 17-02 and its Full Year results, expect this to contribute to PAC's earnings in the second half. GQG's first half earnings contribution will be approx $AUD5.5M to PAC after tax (approx 10c in EPS).

PAC has done well to grow FUM over the last couple of years and as PAC management have stated, the second half of FY23 will result in an increase in EPS due to old funds closing.

Any further drop is likely to be returned back by the end of the year.

Best of Luck
Lost