They absolutely smashed it last half and had heaps of earnings growth and momentum. The momentum's stalled and they really need to keep growing cos it was priced for it IMO.
1. I think the plan was if Digico went well they can roll out a whole heap of other funds to get to that that $50bn, and collect the juicy transaction fees that Digico delivered as well. With how Digico has gone (and also HCW), it's a lot tougher to do now. I think they gotta come up with a way to fix HCW and Digico so that they can keep growing the FUM.
2. The HMC-CP portfolio gains made up about 40% of last half's revenue (mainly Sigma/CW going up over 100%). HMC-CP stocks are up a little from Dec-24, but like 10% vs over 100% for last half, so a lot softer.
They gotta get either or both of those engines going again. I wouldn't bet against Di Pilla, but he's got his work set out to get it humming again.
HMC Price at posting:
$6.96 Sentiment: None Disclosure: Not Held
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