Ann: IFL: IOOF Divests Stake in Australian Ethical Investment Ltd, page-11

Perhaps, but I am not sure this is the best way to raise it. If (like any oridinary investor) this is a story with long-term compounding potential, I would be inclined to consider other alternatives before divesting my stake here, especially if I got set nice and early in the company's evolution as they seem to have.

So their action has a big signalling effect to the market, as is evident from today's price action. Not saying they are right or wrong, but it does give pause for thought.

If they are going to keep their residual stake and this move was done primarily to reduce exposure after a good run, that makes for better optics for the rest of the shareholders, but we'll never know now that they don't have to disclose changes. Price action over the coming weeks may provide a clue though.