FID fiducian group limited

Ann: Half Yearly Report to Shareholders, page-5

  1. 1,462 Posts.
    lightbulb Created with Sketch. 122
    Peter, you seem to have a really good handle on FID.
    What do you make of the lower earnings over the last two periods with the FUM segment? Margins have dropped from 26-28% down to 15.5% in H2 last year and 18.2% this half...
    I assume they earn no performance fees, so I am assuming it is due to an expense relevant to that segment? I can't seem to narrow it down.
 
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