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14:27
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Originally posted by andy777
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Thanks for the page 12 reference Transversal, now I see where your numbers came from. Part of the problem seems to be identifying exactly what counts as funds on a platform. But looking at the numbers in the slide, BT panorama makes up less than 11bn of Westpacs 145bn platform business, so reading into the fineprint the actual product that has the price reduction does only constitute the 1.2% you gave. The quote in the AFR could refer to all of westpac's platform business (145/803 * 100 = 18%). Thanks for clearing up. As usual journalism was able to make a major story out of a much smaller industry change than I realised.
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As usual journalism was able to make a major story out of a much smaller industry change than I realised.
(20min delay)