I initially bought a very small amount to force myself to understand the biz. Over time, as I understood it better, I've built on that position mainly buying the dips (we're currently seeing a unjustified dip at the moment, imo).
i suggest listening to the earnings call by Hamish which took place recently. He explains the biz well (at least to me). It's available on the website.
One thing which I still can't really wrap my head around is the runway or prospects to grow FUM (which translates directly to performance and management fees). 117bn is a really large amount although that spreads across the various funds they offer. If anyone can offer their thoughts about this or point me to any relevant reading material, I'll be very grateful. if for example there are books or biographies of fund managers which discuss how they had set about to grow FUM, that would be extremely useful as well.
cheers
DYOR!!
MFG Price at posting:
$43.65 Sentiment: Buy Disclosure: Held
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