All steady as she goes really, nothing really concerning.
A few points worth noting:
- Net inflows at record figures... nice work given the environment - CTI increased by 2%. Given the effort involved in PCUU integration/acquisition, my guess is this drops back down when it's done - The financial planning segment is performing strongly (profits). I always assumed this would be breakeven, almost as a loss-leading product to attract FUMAA - Platform Administration looking interesting. Cutting fees by ~$1m (on current FUA) and marketing externally. At 60% margins, this could be a big win.
And just in case people missed it - retail preso on thursday.
FID Price at posting:
$7.16 Sentiment: Buy Disclosure: Held
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(20min delay)