Agree it's super cheap but feels like a value trap. Dividend cut...

Agree it's super cheap but feels like a value trap. Dividend cut till FY25, highly exposed to markets which are going down, net inflows are poor in a market where alternatives should be doing well, growth through minority non-controlling interests (which always deserves a discount), far too complicated structuring (via deferred consideration, convertibles etc), trades A$ yet reports US$ (and share price down even with A$ crashing!)

Management that think they are the smartest guys in the room, yet share price says otherwise. Suggest some introspection. Sigh.