Ann: Funds Under Management - May 2023, page-35

you'd miss me if i wasnt here - admit it

and to those expecting big divs....yep, theyve paused the buy back to ensure sufficient funds to give you one last hoorah....but....you'll be starting FY24 with opening FUM at ~38bn.....not $61bn like this year...hmmmm....wonder how long those divis will last ....crunch the numbers ....itll all make sense (maybe - to some)....esp if you drop anopther $10-15bn next year in net client outflows and land somewhere mid $20bns next year.....watch out PTM (whats their mkt cap again vs yours?) but their net margins are twice yours.....hmmm...(what should your mkt cap be then )....! fine, strip away some investments and cash and lets see how you land...