Pleasing that the business had net fund inflows of A$309 million in 'platform administration' (see page 7) given that media publicity about some competitors, one in particular (Magellan) has been all about declining balances.
I don't know FID's fees but at face value to take a small hit of A$1 million in reducing fees to attract more business seems sensible.
NPAT has however not increased by as much as revenue.
I am not an accountant so completely lack expertise in this sort of setup but seems a quite solid result. It'll be interesting what the peterdoobes of Oz think.
Pleasing that the business had net fund inflows of A$309 million...
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