the problem is 3 fold: loss of investment mandates (one now apparently lost)
reduced management fee: notice the reduction of 50 basis points, pressure will be on to replicate this across the board
the reality is that earnings are a function of the market and fum, this is so different to other listed companies where their earnings are not directly related to the market pricing of the listed vehicles, ie the listed company produces/manages something independent of the market.
hence I see huge risk in trying to extrapolate historical earnings into the future using only the current year earnings
hence I see the wisdom in those posters talking about “average historical earnings”
Hence why I am happy to be patient before adding to the position
MFG Price at posting:
$29.36 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)