why would it be downhill from here? FUM is only going to grow......as the market rises and they get access to MLC's funds.......they earn a % management fee on the FUM they manage.... plus synergies from integrating MLC and ANZ platforms will drive further profit growth.... also MLC is a great brand name that wasn't tarnished in the royal commission ......buying MLC also gives them the option to rebrand the whole business as MLC next financial year...
plus they will be selling MLC's asset management decision next financial year......we know that Ares are looking for an asset like that.....another good upcoming announcement....
IFL Price at posting:
$3.48 Sentiment: Buy Disclosure: Held
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